Yum Brands launch a new franchise accelerator program to support young entrepreneurs

Yum! Brands recently announced its collaboration with two universities to assist female entrepreneurs and people of color on a master's program to franchise in any of the brand's companies. Yum! Brands is the parent company of KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill.

The franchise accelerator started with 10 grad students being selected for the five-month fellowship program. Six students were chosen from Howard University, D.C., and four from the University of Louisville in Kentucky – all second-year MBA students. The intensive course of study will include hands-on training and mentoring by the brand's top franchises. The participants will also be taken on a visit to Yum’s franchisor’s restaurant support center in Louisville.

All the participants will compete in a final pitch at the end of the program. The two top competitors will receive start-up capital, mentoring, further training, as well as an opportunity to operate any Yum! Brands’ restaurant franchise of their choice.

Chief legal and franchise officer at Yum! Brands said the program was created to provide training and support to underrepresented people to enable them to have a spot in the franchising industry.

“Yum! Brands is proud to work with n=both the University of Louisville and Howard University on this groundbreaking partnership to train and advance underrepresented people of color and women entrepreneurs interested in building a career in the franchise restaurant industry,” said Scott Catlett, chief legal and franchise officer for Yum! Brands.

“The fellowship is a win-win as the students will receive educational experiences, mentoring, and hands-on training unlike any other, while Yum! has the opportunity to welcome two talented business leaders and aspiring diverse franchisees to our U.S. system."

Lori Stewart Gonzalez, interim president of the University of Louisville said in a news release that the accelerator was going to hugely benefit directly for the selected participants and it would create a ripple effect beyond that.

“It will have a life-changing impact not only on participating students but far beyond, through their future entrepreneurial success and with those they mentor and inspire.”

The Yum! Brands franchise accelerator was first announced on February 3 as part of the brand’s global Unlocking Opportunity Initiative which is funded through Yum’s $100 million, five-year commitment in a campaign for global equity and inclusion. The announcement came through the Yum Center for Global Franchise Excellence which began operations in 2021 at the University of Louisville’s College of Business.

Since June 2021, more than 200 undergraduate, graduate, and executive-level management certificate students had already gone through the Yum Center for Global Franchise Excellence. The goal of the center is to promote Yum’s franchising model alongside diversity to create generational wealth, according to Wanda Williams, head of Yum Global Franchising.