THE HAND-UP SCHOLARSHIP PROGRAM: Paying It Forward!
Business and Franchise Professionals Have a New Legacy Tool to Help Others Succeed
There is a huge difference between a hand up and a hand out! The hard work that newer entrepreneurs and franchise professionals invest in their companies proves that they don’t need a hand out – but sometimes, they do need a hand up.
Opening a new franchise location is no small undertaking. Even with a good amount of capital and assistance from the franchisor, there is still a lot to know to simply get the doors open. When a single wrong step can impact financial resources in the tens of thousands of dollars, it can take years for the words 'If only....' to stop echoing in the background. The National Franchise Institute, which educates newer entrepreneurs and franchise professionals about the intricacies of opening new locations, created the Hand-Up Scholarship Program to help them to successfully do just that.
The Hand-Up Scholarship Program is a pay-it-forward opportunity that helps to strengthen the franchise industry. By pairing already-successful business and franchise professionals with newcomers to the industry, there is a domino effect of success that extends for years.
Few successful business professionals became so without help from a number of different sources. Franchisors, franchisees, suppliers and service providers who have 'made it' in the franchise world can easily reflect back to their own humble beginnings. Each one knows the struggles they faced and they remember the people and the companies who were there to help them along the way. It becomes a significant milestone in each one’s career when they are able to be ‘that’ person for someone else.
Corporate Sponsorships vs. the Hand-Up Scholarship Program
In the business world, companies partner together to share the mutual benefit of corporate sponsorships. On a practical level this is great -- yet it represents only a two-dimensional benefit (to the sponsor and its receiver). Unfortunately, corporate sponsorships miss an opportunity to really help change the life of someone who needs it the most.
The idea for the Hand-Up Scholarship Program is a creative twist on corporate sponsorships. By accepting scholarships in lieu of sponsorship dollars, the Hand-Up Scholarship Program becomes a three dimensional benefit (for the sponsor, the Institute, and now for someone whose business can be positively impacted for the rest of their career: a new franchisee, perhaps even a Veteran who is joining the franchise family).
Scholarships can be presented to the Institute on behalf of a specific individual or they can be earmarked for someone that the sponsor doesn’t know yet. People tend to associate with other people who are more like themselves. When someone is already an experienced, successful professional, chances are high that their closest business associates have already achieved success in their own rite. They want to help ‘someone’ yet they don’t personally know who. It is exciting for the National Franchise Institute to be able to bring the two together to help someone whose franchise career will be forever changed by receiving a much-needed hand up in the form of free tuition to attend one of our programs.
The Hand-Up Scholarship Program, hands down, is one of the most rewarding gifts to give and is one of the most valuable gifts to receive.
The National Franchise Institute offers two programs:
ESSENTIAL COMPETENCIES Effectively building brick & mortar locations
GROWTH STRATEGIES The pros and cons of growing as an independent vs. pursuing the franchise model
If You Would Like to Apply for a Scholarship
If you would like to apply for a scholarship, please click the APPLY button in the upper left-hand margin of this page which will take you to the National Franchise Institute’s company page on LinkedIn. By clicking the FOLLOW button, we will have your contact information on hand. As Scholarship Application windows are announced, you will receive invitations through Linkedin and our Newsletter to apply.
If You Would Like to Sponsor a Scholarship
If you or your company would like to donate to the Hand-Up Scholarship Program, please click the DONATE button in the upper left-hand margin of this page. Whether you have a specific Nominee in mind or would like the National Franchise Institute to share your scholarship gift with someone you have yet to meet, we would be honored to partner with you to help a special person who needs it most.