Social Capital Partners

News
Franchise Update
on June 15th, 2012

This June marks a number of important anniversaries for our franchise fund and community hiring program.   

One year ago we facilitated our first investment in the hospitality sector by partnering with Shoeless Joe’s Sports Grill.  The owners of Shoeless Joe’s Meadowvale in Mississauga – Mike, Adam and Launce – have been very committed to our community hiring program over the past 12 months, working with community service agencies to provide job opportunities to individuals facing challenges (re)entering the workforce. Two employees initially hired through Shoeless Joe’s agency partners have been promoted in recent months, demonstrating the importance of accessible entry-level positions.

This June also marks our two-year anniversary with Mr. Lube.  Since facilitating our first investments with four Ontario Mr. Lube locations in June 2010, our partnership with the automotive franchise has expanded to almost thirty locations across three provinces -- British Columbia, Ontario and Quebec. Over the next year, SCP intends to further expand within the network, increasing our impact by facilitating access to more and more technician positions which provide job candidates with valuable development and training opportunities.

Lastly, our partnership with AG&R reached its six-year milestone this year. Owing to the tremendous dedication of AG&R’s management and franchisees in making community hiring integral to the company’s recruitment practices, over 200 community hires have been made, representing thirty percent of the workforce at stores engaged in community hiring. Not  surprisingly, these AG&R business owners have also experienced higher-than-average retention rates, with the average tenure of current employees hired through community agencies at 21 months.  Most significantly, three of AG&R’s first employees hired through partner agencies in 2008 and 2009 recently completed their licensing to become certified automotive technicians. For their employers, this signifies a strong return on investment, having provided these individuals with entry-level positions with meaningful career paths that in turn have led to a loyal, dedicated and high-performing workforce. Our annual review of the AG&R portfolio is available here, with stats on the percentage of employees hired from community agencies, retention rates and progress from last year across the portfolio.