For many African American business owners, the entrepreneurship journey is often a long, winding road with numerous challenges and obstacles. Access to education, mentorship, and business capital can be critical to their business’s success. To provide many of these tools, the International Franchise Association (IFA) created the Franchise Ascension Initiative (FAI). Now in its second year, the six-month accelerator program aims to prepare qualified individuals from underrepresented groups, U.S. veterans, and economically disadvantaged communities with the education, mentorship, resources, and support to successfully launch a career in franchise ownership. The FAI is an immersive hybrid learning program with live, virtual instructor-led classes and self-paced online learning. It also provides individual and group mentorship sessions, access to expert speakers, experiential assignments, case studies, and research opportunities. The program covers Franchising Fundamentals, Franchise Law, Selecting the Right Brand, Financing Your Business, Marketing & Sales, Building Successful Teams, and much more.
The FAI was spearheaded by Omar Simmons, president of Exaltare Capital Management, and his wife, Raynya, in partnership with the IFA. The Simmonses were inspired to launch the FAI as a springboard to help underrepresented entrepreneurs interested in franchising. Last year, the IFA received 70 completed applications from prospective franchisees nationwide. Seventeen finalists were chosen after an extensive IFA screening and interview committee review. Chandler Hayden, an inaugural cohort member, is the Franchise Development Coordinator at Taco John’s International. Hayden describes her experience in FAI as a dream come true. “This program opened the doors to world-class education and endless resources. FAI gave us not only the tools but also offered hope and the tangible opportunity to succeed as franchise owners.”
For minorities, who often lack the same access to networks and capital as others, this program is a game-changer,” said Calvin Parsons, Owner & CEO of Kidokinetics RVA, also part of the inaugural cohort, who was surprised to learn how tight-knit the franchise community is. “It’s like one big family, where collaboration is key. It’s refreshing to see competing brands working together to drive progress and make a positive impact on small businesses, their owners, employees, and the communities they serve,” shared Parsons.
“Franchising offers a remarkable path to entrepreneurship, with over 3,000 brands in the U.S. spanning virtually every industry. It’s not just about owner-operators in quick service restaurants; there are also opportunities for investors and small business owners to participate in the franchising space in diverse ways.” Finally, Michael Gatewood, who began his career on Wall Street and is now a managing principal at Westview Management Group and a multi-unit franchisee, said of the FAI program: “I would highly recommend the FAI program. You will be equipped with the tools needed to launch your endeavors, be surrounded by like-minded individuals who want to help you succeed and grow as a person and professional. This is an amazing opportunity.”
Applications are being accepted for the 2025 cohort, which begins in August 2025 and ends in February 2026. Participants will be reimbursed for expenses incurred to attend at least two signature IFA conferences. The application deadline is May 16, 2025, and includes a brief essay and video component along with the written application. Each participant is assigned an FAI mentor –- a franchise professional who will volunteer to coach them through the program. There is no cost associated with the application or the program; however, its heavy content workload should be considered before applying.
To learn more about the FAI and how to apply, visit FRANCHISE.ORG/ASCENSION.
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