Franchising is Big Business these days. It allows people that have entrepreneurial ambitions to hedge their risk and start a business, but not from the ground up, avoiding a major part of a brand new business’s pitfalls.
Right now, if you’re looking to get into the food service business as your own boss, the best chance you have is a franchise, and very few food related franchises are a better investment than Taco Bell.
Taco Bell franchisees own about 93% of the 7,000-plus locations worldwide, according to Entrepreneur magazine. One of the main characteristics of Taco Bell franchises is the fact that franchisees are trusted and listened to when it comes to innovation and growth. Taco Bell simply requires that the ideas contain some degree of consistency with the brand.
Now, Taco Bell is taking its support of the franchising industry a step further by creating the Taco Bell Business School in a partnership with the University of Louisville.
The program is supported through the Yum! Center for Global Franchise Excellence, which is also a partnership with the University of Louisville’s College of Business. It will teach fundamentals of franchise ownership in a 6 week business boot camp. The work will be counted as accredited education that will cover critical business and entrepreneurial skills, financing, growth and development, marketing, and human resources.
Scholarships will be given to cover tuition, and, of course, completion of the program will be internally recognized by Taco Bell. It will create an easier pathway to Taco Bell franchise ownership. The first class starts this month, and in 6 weeks, well I’ll be able to see just how much the program is worth.