For many military veterans, returning to civilian life and the 9-5 workplace can be a complex transition. The skills you learned in the field don’t always translate to a traditional desk job, and staring at cubicle walls all day can take a toll on your well-being.
If you’re looking for a fulfilling career designed around your talents, leadership skills, and interests, the best way is to build it yourself. By starting your own business through franchising, you can take on a new mission that offers the freedom and flexibility you can only get from being the one in charge.
The U.S. Small Business Administration (SBA) reports that veterans are 45 percent more likely to launch a new business when compared to their non-military peers. In addition, according to the International Franchise Association (IFA), one out of every seven franchise businesses is veteran-owned, and 70 percent of franchisors in 2022 said they brought on a veteran franchisee or corporate employee over the past year.
What makes franchising such an incredible opportunity for returning servicemembers? Five main reasons stand out:
- Incredible incentives – Because franchisors recognize the determination and skillsets veterans bring to the market, they are more than willing to provide industry-leading benefits to servicemembers. In 2023, over 630 franchisors had veteran-focused incentive programs, offering everything from 50 percent discounts on franchise fees to no-interest financing. For entrepreneurs wanting to avoid a traditional career path, the ability to launch a business with minimal risk is hard to pass up.
- A variety of franchises to choose from – There are more than 3,000 unique franchise companies in the U.S. with available opportunities across the country. While many veterans take the fitness and wellness franchise route, opening boot camps, training gyms, or CrossFit facilities, servicemembers can find almost any option that aligns with their experience and interests. For example, there are hardware store and car care franchises for the mechanically-inclined, restaurants that appeal to culinary specialists, and IT service companies ideal for cybersecurity experts.
- Ready-built entrepreneurial skills – After their time in the military, veterans return home equipped with diverse talents, traits, and proficiencies that empower them to take on any business challenge. From an unyielding work ethic and admirable leadership skills to logistics expertise and an aptitude for organization, the core values they hold are vital for a successful new career. In addition, veterans who launch their own franchises are 30 percent more likely to employ their fellow vets, helping to widen the job market for other servicemembers.
- A full support crew – When you start your own business, you usually have to go about it alone. However, opening a franchise means you have an open door to a variety of resources that can help you pull together a successful action plan. Franchisers not only have a built-in customer base and national brand recognition, but they offer their franchisees ongoing training, marketing and advertising assistance, technical support, and access to increased purchasing power.
- Help to get you started – Veterans interested in opening a franchise can enlist the assistance of public and private partners who are able to connect them to essential programs centered on the creation of small businesses. For instance, the Office of Veterans Business Development is the SBA liaison to the military community and provides access to loans and grants, counseling and education, and training. VetFran through the IFA Foundation offers support services for entrepreneurs as well as an online library of information. And companies like FranSelect, can connect you to franchise opportunities that match your risk tolerance, interests, and budget.
Veterans who take advantage of franchise opportunities take their commitment to helping others in a new direction, offering consumers the services and products they need delivered with the ultimate in customer service. Just as important, these franchisees employ 800,000 of their fellow Americans and generate $41 billion for the U.S. economy.
Please call Nancee Roberson (501-500-0175) or click Learn More if interested in learning more about franchise options through CBI Team.
Provided by: Dick Mueller, Founder & CEO FranSelect