In 2011, Franchise Direct launched its Mexican franchise portal, franquiciadirecta.com.mx. This was a big step for us. It was our first foray into franchising in Latin America and it meant we now had a portal in every major North American economy. It was also symbolic proof that the time for franchising 'south of the border' has arrived.
In line with the growth of franchising in Mexico comes a huge upsurge in Hispanic franchising in the US. QSR magazine explored the trend of Hispanic franchisees recently. Data from 2007 shows that Hispanic franchisees made up 5.8% of all US franchisees. That number is likely to have increased substantially over the past 5 years, as Hispanics have the fastest growing population amongst Americans.
As the QSRmag story outlines, there are many reasons why franchises should court Hispanic franchisees.
"The Hispanic culture is family centered and franchises simulate this structure. Like family, franchisors assist their fledglings, franchisees, with support and specialized training for success."
We expect to see big things from this group of entrepreneurs in the next few years.