WASHINGTON, May 2, 2017 /PRNewswire/ -- The International Franchise Association (IFA) Franchise Education & Research Foundation announced today it is accepting applications for its annual NextGen in Franchising Global Competition, a worldwide program that engages millennial entrepreneurs seeking careers and business opportunities in the franchising industry. Applications are open from May 1 – Sept. 1, 2017 at www.NextGenFranchising.org.
"While there are many entrepreneurial competitions and accelerators out there, NextGen in Franchising is the only competition focused on helping millennial business owners grow their concepts through the franchise model," said David McKinnon, CFE, Foundation vice chair and chair of the NextGen in Franchising Committee. "According to the IFA's Franchise Business Outlook for 2017, the franchise sector is expected to grow by $36 billion this year and we are excited to drive that growth as we identify the top up-and-coming entrepreneurs worldwide who are positioned to become the next big thing in franchising. This truly unique competition will allow NextGen winners to have the opportunity to meet personally with leaders within the industry to utilize as resources as they build their companies."
The NextGen in Franchising Global Competition is open to entrepreneurs ages 21-35 with businesses that have been operating for 1-5 years. Winners receive a trip to the IFA's Annual Convention in Phoenix from Feb. 10-13, 2018; a spot at the NextGen in Franchising Summit, a two-day educational and networking program for next generation entrepreneurs; an accelerator program with industry leaders and CEOs; an opportunity to participate in the FRANSHARK competition for additional cash prizes; and opportunities to network with leading franchisors, franchisees and suppliers and with other young entrepreneurs.
Winners of the 2017 NextGen in Franchising competition hailed from 10 countries around the world, including the United States, Canada, the Philippines, Australia, Mexico, Tanzania, and Hungary, among others. Jennifer Turliuk, founder of Toronto-based MakerKids, was named the 2017 FRANSHARK winner.
"Competing at NextGen was an extremely valuable experience for MakerKids," said Turliuk. "After winning the competition, we started to receive much franchise interest to help us hit the ground running. We also gained media coverage from local and international publications, and were able to meet veterans of the franchise industry. We have been able to further develop our business from the mentorship from several of the judges. As first-time franchisors, we could not be more pleased!"
The NextGen in Franchising program is made possible due to the generosity of its donors and sponsors, which include David McKinnon, the founding sponsor; the Stewart & Jane Bainum Fund; Lawrence "Doc" Cohen, Doc & Associates; Stephen P. Joyce Fund; Choice Hotels Foundation; J. Willard and Alice S. Marriott Foundation; Tariq Farid, Edible Arrangements; Charlie Chase, FirstService Brands; Amit Kleinberger, Menchie's Frozen Yogurt; Aziz Hashim, NRD Holdings; Joe Bourdow, Valpak; Melanie Bergeron, Two Men & A Truck Intl.; Amit Pamecha, FranConnect; and the Fred DeLuca Foundation/Subway.
About the IFA Franchise Education & Research Foundation
Founded in 1983, the International Franchise Association (IFA) Franchise Education & Research Foundation is a 501(c)(3) tax-exempt organization and supported through the generous contributions of IFA members and others. The Foundation's mission is to advance franchising and the free enterprise system by increasing the knowledge and professional standards of all members of the franchising community; educating the next generation of franchise practitioners; increasing recognition of franchising's key role in the free enterprise system; and providing comprehensive information and research about important developments and trends in franchising.
About the International Franchise Association
Celebrating 56 years of excellence, education and advocacy, the International Franchise Association is the world's oldest and largest organization representing franchising worldwide. IFA works through its government relations and public policy, media relations and educational programs to protect, enhance and promote franchising and the more than 733,000 franchise establishments that support nearly 7.6 million direct jobs, $674.3 billion of economic output for the U.S. economy and 2.5 percent of the Gross Domestic Product (GDP). IFA members include franchise companies in over 300 different business format categories, individual franchisees and companies that support the industry in marketing, law, technology and business development.
IFA Franchise Education & Research Foundation
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SOURCE IFA Franchise Education & Research Foundation