LOUISVILLE, Ky. (WDRB) -- Students who have ever wanted to own their own restaurant are getting some help thanks to a new program geared toward minority business majors.
It’s called the Franchise Accelerator Fellowship, a partnership between Yum! Brands, U of L, and Howard University. Ten students have been chosen to go through a “boot camp-style” fellowship with the final goal of owning a franchise.
“The idea of doing something that can be generational wealth building is most exciting,” said Yuvay Ferguson, assistant dean for impact of engagement at Howard University’s School of Business.
Howard University is one of the two Universities chosen to be part of the program.
Yum! Brands is calling it a one-of-a-kind MBA elective opportunity for the 10 business Grad students. Following the fellowship, two students will be chosen to own either a Taco Bell, Pizza Hut, KFC, or Habit Burger Grill franchise.
“They are interacting and meeting our largest franchisees in the U.S. and being mentored by them, being trained in the restaurants,” said Wanda Williams, who heads Yum! Global Franchising. “I think we have a nice group of people who truly understand, 'Hey, I want to be an entrepreneur — what it takes to be an entrepreneur — but I really want to learn what it takes.'"
The program a way for the second-year business students to receive a scholarship and accelerate to what is the final goal for many: ownership.
Part of the country’s Historically Black Colleges and Universities, dozens of students at Howard University applied for the chance to be part of the program.
“The breath of what they understand about this world and the opportunities that are being presented to them by this opportunity are just mind-blowing,” Ferguson said.
Professors at U of L’s School of Business said the journey to get to franchise owner ship will be a rigorous one.
“We have content and their activities and exercises around that make it a graduate course," said Kathleen Gosser, a professor of franchise management at U of L. "So we actually have six courses that they are going through."
While it is a pilot program, both universities and Yum! Brands are confident it will continue based on the interest and applications so far.
“This is actually speaking to building a diverse pipeline and building up leaders that are of diverse qualities. ... and that's huge,” Ferguson said.
The two winning students will be chosen at the end of this current semester.
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