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IFA and University of Louisville Team Up to Offer Franchising Certifications to Graduates
The first-of-its-kind partnership aims to educate and empower up-and-coming franchising industry professionals looking to achieve the distinction of Certified Franchise Executive.
The International Franchise Association (IFA) and the University of Louisville (UofL) today announced a new partnership that will allow students of the UofL College of Business to continue their education and certification through the IFA Certified Franchise Executive™(CFE) Program and the Yum! Center for Global Franchise Excellence.
The CFE program, which offers business, leadership and legal education to help franchise executives, managers and local franchise owners succeed, has been the premier certification in franchising for nearly 35 years.
With this recent partnership, UofL graduates will be able to receive the best-of-the-best in franchising education through the university’s new "Fundamentals of the Franchise Model" program, which covers everything from “the foundations of the franchise business model, legalities, business growth, human resources, leadership and the franchisor-franchisee relationship,” the release states. The program, combined with “elective courses and participation events,” will put graduates on the path to achieving the honored distinction of Certified Franchise Executive.
"This landmark education and certification partnership will be transformational to the industry," said Matthew Haller, president and CEO of the International Franchise Association. “Building on the success of the CFE program, this new partnership will encourage more people in franchising to level up their skills by pursuing a CFE, ultimately creating a new level of professional excellence in franchising with standards-based education as the foundation. IFA is pleased to partner with the University of Louisville on this venture, which will make franchise education more accessible at a time when we are seeing more and more interest in the business model.”
In addition to helping graduates achieve the CFE designation, IFA notes in the release that they hope to further close the education gap and help more young people pursue a career in franchising.
As Millennials and Gen Z reach maturity, the younger generations are becoming increasingly drawn to franchising, especially following the COVID-19 pandemic and the Great Resignation. In addition to being the largest generation currently serving in the U.S. labor force, a study found that 60% of Millennials identify as entrepreneurs and are interested in investing in their own businesses. And according to a Harvard Business report, the highest resignation rate for Americans that recently quit their job falls between the age bracket of 30 to 45. Now, with Millennial buyers outpacing Baby Boomer buyers for the first time, the younger age group accounts for over 20% of franchise ownership.
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