The diverse skillset you built in the military is the same one that can make you a successful entrepreneur in civilian life. In today’s competitive business landscape, franchise brands are looking for mission-focused individuals with the ability to assess risks, lead and motivate others, and stand up to any challenge. No one fits those requirements better than a veteran.
According to the International Franchise Association, 97 percent of franchisors say veterans are excellent franchisees, and 70 percent report they brought on a veteran franchisee or corporate employee in 2022. With more than 3,000 franchise brands for aspiring business owners to choose from, and another 300 ready to hit the market in the next year, franchisors are stepping up recruitment efforts and offering incentives to attract those veterans ready to take on a new adventure.
The benefits of franchising for veterans
Franchising offers you the chance to build your own business, but just as in the military, you don’t have to go it alone. By becoming a franchise owner, you have a dedicated team by your side to help you accomplish your mission. The franchise business model is ideal for veterans for several reasons:
- An affordable point of entry – The cost to open a franchise varies by brand, but the average fee is between $20,000 to $50,000. To bring more veterans on board, many brands are providing discounts to those who’ve served, and in some cases, are waiving the fee entirely. In addition, resources like the Office of Veterans Business Development through the Small Business Administration, offer loan assistance, business plan preparation, and mentorship.
- Set procedures and protocols – During your time in the military, you had defined procedures to follow each day. Franchising is similar, but a lot less stressful. A successful franchise brand operates on a proven and precise corporate system to guarantee a consistent experience for every customer. You have a plan in place to make the transition from servicemember to business owner seamless.
- Training and support – Like the military, franchise brands offer you the chance to develop new skills through extensive training programs. Even if you’ve never run a business, developed a marketing strategy, or managed sales, you can master new tasks to help ensure your new venture is a success.
- Business opportunities that fit your interests – The best part about franchising is you can do what you love without building a business from scratch. No matter your professional background or personal interests, you can find a franchise that aligns with both. For example, did your military career center on IT or cybersecurity? Consider a tech-oriented franchise that provides computer support. Love the physical aspect of training? There are hundreds of sports training, fitness, and boot camp franchises available right now.
Helping you take your next career step
The franchise consultants with FranSelect specialize in connecting veterans to franchise opportunities in your area. We’ll work one-on-one with you to understand your goals, interests, and budget and offer recommendations to find your perfect match. In addition, we have a network of resources to help you secure funding or provide additional start-up support. Best of all, our services are free to veterans – all consulting costs are covered by franchisor referral fees!