The Big Apple Franchise
Initiative (BAFI) is a one-stop shop
where reliable information about franchising can be obtained by aspiring
franchise owners, existing franchisees and national franchisors focused
on reaching Asians, African-Americans and Latinos.
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By leveraging the power of
franchising, BAFI aims to impact:
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Ownership. Increase the number of Asian-,
African American- and Latino-owned businesses that create jobs for local
residents.
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Employment. Chip away at stubbornly high unemployment rates, particularly in the
African-American and Latino communities and especially among these youths.
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Revitalization.
Aid in revitalizing commercial sites in under-retailed and underserved
New York City neighborhoods by introducing well-known, established
brands.
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BAFI will use a variety of methods to boost
Asian, African-American and Latino franchise ownership. For example,
BAFI will:
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Create a citywide database of commercial
sites suitable for franchise development. |
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Produce educational programs about franchise
ownership and operation, including the annual
Minority Franchise Buyers Conference. |
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Provide technical support such as business
plan development, market research and workforce training to aid aspiring
and existing franchise owners. |
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Identify funding sources and strategies to
start, acquire or expand a franchise operation. |
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Conduct ongoing outreach to national
franchisors to educate them about opportunities to do business in New
York City. This will include conducting periodic "site tours" for
franchisors interested in increasing their presence in the area. |
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