Through the Social Equity Franchise Fund, managed by Mission Driven Finance, a California-based social impact investment firm, franchisees can access loans ranging from $250,000 to $300,000 to cover initial personal capital investments. This initiative ensures that community members and those with limited financial resources can participate in small business creation and wealth accumulation.
The program actively promotes economic empowerment among entrepreneurs from marginalized communities by offering a well-supported and expedited path to business ownership. It serves as a model for a more diverse and inclusive approach to franchising, addressing the lack of representation by people of color and women. Graduates qualifying for the program receive critical access to capital, along with hands-on training, equipping minority entrepreneurs to operate Everytable restaurants in their communities. Repayment of the loan is facilitated through a portion of the franchisee’s profits.
Everytable places significant emphasis on efficiency in food production processes to maintain its cost advantages. The company uses fresh produce and ingredients from local farmers and suppliers. Meals are prepared at a centralized production site and delivered through various channels, including retail locations, subscription boxes for home delivery within the local service area, Everytable-branded vending machines at workplaces and campuses, and bulk purchases for corporations or government. Pricing is flexible, with meals costing between $5 to $7 in low-income or low-food access areas and $7 to $9 in higher-income areas.
According to Everytable’s 2022 impact report, they opened 38 stores, prepared 5.2 million meals, served 181,000 retail customers (including 96,000 in low-income/low-food access areas), and established 32 strategic partnerships to address food insecurity. In addition, in 2022, the first cohort of five franchise candidates graduated from Everytable University and started their journey to become franchise owners.
Reinvestment Fund, along with a $1 million contribution from Community Vision, provided $8 million in financing for the fund-to-fund program. This partnership furthers our vision of social and racial equity in the food system as well as wealth creation, particularly for Black and brown borrowers.