Tariq Farid Franchise Institute Integrates Franchising into Babson’s Rich Entrepreneurial Curriculum
When Babson College announced the creation of Tariq Farid Franchise Institute back in 2021, it was a natural addition to the Arthur M. Blank School for Entrepreneurial Leadership, a resource for Babson’s Centers and Institutes. After all, entrepreneurship and franchising go hand in hand. But it also marked a significant step for franchising as a whole. Until recently, few programs focused on franchise curriculum or espoused franchising as a career path. “If you ask most people how they found their way into franchising, they will tell you it was by chance,” says Ab Igram (above left, posing with Tariq Farid), who serves as Executive Director of the Institute. “We aim to change that.”
The Tariq Farid Franchise Institute at Babson College, named after the founder of Edible Arrangements, Tariq Farid, was created to develop tomorrow’s franchise leaders and expand global opportunities for rising entrepreneurs. By providing tailored courses, interactive workshops, and practical experiences, Babson is spreading awareness and generating excitement about careers in franchising. “We are just getting started with this program,” says Igram. “I love franchising, and I’m not alone. Most everyone in franchising is super passionate. Franchising creates a one-of-a-kind path into business ownership and generational wealth creation.”
Franchise Education at Babson
While franchising is not an official major at Babson College, it is incorporated into many aspects of the school’s programming thanks to the institute. “By adding franchising to our student’s toolkit, we can help them find their way to careers in franchising,” he says. Babson College takes a unique approach to learning with its business-centric curriculum that focuses on entrepreneurship. “Franchising is such a huge part of the business world and is built on a foundation of entrepreneurship. It just makes sense to weave it into our curriculum,” he says.
Franchise-focused programming at Babson includes experiential learning with franchise guests, franchise case studies, and graduate courses in specialized areas, such as licensing and distribution. Igram teaches a graduate course in franchise sales and marketing. In addition, the Institute is developing online franchising certificates for corporate partners and other franchise professionals.
Igram sees a world of possibilities for exposing students to franchising. He’s excited about hosting events that highlight these opportunities. “We [Babson’s Centers and Institutes] are unique because we have one foot in the practitioner world and one foot in the world of academics.” At a recent event in April, for example, students learned from Clayton Farms, a food start-up, about scaling a business through franchising. This experience provided valuable insights into the extensive opportunities that franchising offers.
How it Started
Igram first discovered franchising while pursuing his MBA with a focus on Entrepreneurship and Finance at Babson College. During this time, he worked as a graduate assistant to Stephen Spinelli Jr., Ph.D., a renowned figure in franchising who co-founded Jiffy Lube International, holds a Babson MBA, and is the 14th president of the College. Igram and Professor Spinelli collaborated on research exploring the benefits of creating a franchised-focused investment fund and vehicle.
“I was hooked on entrepreneurship,” Igram says. Under Spinelli’s mentorship, Igram launched his 25-year career in entrepreneurship, finance, and franchising. He has since become an accomplished corporate venture capitalist and leveraged finance leader, as well as the co-founder of two start-up companies.
Years later, when Spinelli invited Igram back to Babson to lead the Institute under the Arthur M. Blank School for Entrepreneurial Leadership, he was thrilled to share his experiences with Babson’s students. “This feels like home. I am so excited to lead this program and introduce franchising to a new generation of entrepreneurs,” he says.
Babson Alumni
Igram is just one of Babson’s graduates who launched impressive careers in franchising. Babson has given rise to a number of notable multi-unit franchise owners who have built their own empires. For example, Elizabeth Roberts, who graduated in 2006, owns 11 Pure Barre boutique fitness exercise studios in the Northeast, employing roughly 130 women. Jeff Klein, a 1991 Babson graduate, owns 15 branches of Capriotti’s Sandwich Shops across two states, plus various Auntie Anne’s and Baskin-Robbins locations, among other food interests, as well as The Gents Place, an upscale men’s grooming salon franchise. “I think franchising makes business a little easier,” he says.
Since the business-focused school started in the early 1900s, it has attracted and educated some of the world’s most prominent innovators. Babson’s impressive alumni have made remarkable strides across various sectors. Jamie Siminoff, who started Ring doorbells, revolutionized home security. Terrell Braly, founded Sandwich World, a brand that laid the groundwork for what would blossom into the well-known Quiznos franchise. Arthur Blank, co-founder of The Home Depot, changed how Americans shop for home improvement products.
Among Babson’s newer alumni is Somia Farid Silber, a millennial who exemplifies the youth movement in entrepreneurship. As the President of Edible Brands and daughter of Tariq Farid, Silber has not only continued her family’s legacy in franchising but has also infused it with fresh, innovative strategies. Her leadership at Edible Brands is a great example of how Babson nurtures a new generation of entrepreneurs ready to make significant impacts early in their careers.
The Tariq Farid Franchise Institute
Igram is dedicated to elevating franchising through the Tariq Farid Franchise Institute. He continually introduces new initiatives and leverages his franchise network to boost programming. His collaborations extend to leaders from the handful of other colleges and universities that have also introduced franchising into their curriculum recently, including Palm Beach Atlantic University’s Titus Center for Franchising and The University of Louisville’s Center for Global Franchise Excellence. “We all want the same thing — to expose students to the world of franchising.”
One of Igram’s latest initiatives, “Stars of Franchising,” is a podcast for those interested in the franchise business model, but also doubles as an educational resource for students. Through the podcast, Igram and co-host Vini Onyemah engage with franchise founders, CEOs, and other leaders in franchising, exploring their inspiring stories and entrepreneurial journeys. These discussions are then shared with students, providing them with valuable insights.
Igram believes deeply in Babson’s unique approach to education and entrepreneurial spirit. “Babson is a special place with an emphasis on social thinking. I feel great how our students are equipped to head out into the world.”
For more information about the Tariq Farid Franchise Institute, visit https://www.babson.edu/franchise-entrepreneurship-institute/.
