FranNet of DFW & Oklahoma
Blog – “Why Veterans and Franchising are a Good Match for One Another”
Nov. 14, 2022
Why Veterans and Franchising are a Good Match for One Another
On Friday of last week, the nation celebrated Veterans Day, a day set aside to pause and remember the brave men and women who’ve served in the U.S. Armed Forces. The annual homage we pay to our Veterans is a stark reminder for us to recognize the debt of gratitude we all owe to those who have put on the uniform and defended our country. But our reverence shouldn’t end when their time in the service is up. In fact, it’s even more critical to provide our support as many transition to civilian life.
Those who have served in the military have gained valuable skills and experience that can easily translate to success in civilian life – especially for those who desire an entrepreneurial future. Yet they remain unaware that these experiences are transferrable – especially as it pertains to franchise ownership. FranNet of DFW & Oklahoma reviews why that is…
Why Veterans Make Good Entrepreneurs
Approximately 10% of all small business owners are Veterans, which should come as no surprise when you consider the factors that make them a great match for entrepreneurial pursuits. Veterans understand the value of leadership and success that’s shared by a team. Their level of discipline makes them excellent candidates for franchising, as they can intuitively follow a proven business model’s roadmap to success. They’re also no strangers to hard work and sacrifice, qualities that new business owners must possess to launch their pursuits. Lastly, the courage to perform under difficult conditions and critical problem-solving skills are required for entrepreneurial ventures – especially franchise-related opportunities.
According to some of the most recent data from the nonprofit VetFran, Veterans make up approximately eight percent of the U.S. population, but they’re twice as likely as individuals in the general population to own a business of their own. In fact, the SBA reports that almost a quarter of all Veterans are interested in business ownership. And why not? Almost 10% of all small businesses in the U.S. are owned and operated by Veterans. They currently own 14% of all franchise units and over 70% of all franchisors report having at least one Veteran owner in their system.
Incentivizing an Entrepreneurial Future
There are endless resources available to military Veterans interested in an entrepreneurial future. Almost all franchisors offer some form of Veteran-based discount to initial franchise fees and there are countless grants, programs, and funding operations geared to those who’ve served. A great place to start is the SBA’s branch of Veterans Business Development Resources, a series of programs and initiatives to help veterans launch a small business of their own. And once you’ve made the decision to go entrepreneurial, FranNet of DFW & Oklahoma can demonstrate the many advantages that come with franchising your way to business ownership. For veterans seeking organizations designed to help them establish a transition to civilian life, we can share the following links:
For a full rundown of available help, FranchiseWire put out a comprehensive list of resources in 2022, focusing solely on Veteran and military franchise discounts. If you’re a veteran or preparing for a transition from military to civilian life, FranNet itself has a dedicated Veterans-Only landing page with resources designed to help you take that all-important first step towards an entrepreneurial life.
If you’d like to know more about franchise opportunities and ownership, we’d like to hear from you. We are uniquely qualified to match your potential with the possibilities that come from small business ownership through franchising. All you have to do is allow FranNet of DFW & Oklahoma to be your guide. Our no-cost, no-obligation consultations have helped hundreds of entrepreneurs in North Texas and Oklahoma secure a future that belongs to them and them alone. If you’d like to get started on your own entrepreneurial journey, we’d love to introduce you to a whole new world of possibilities through franchise ownership.