One in eight franchises in North America is owned by a veteran. In many ways the military cultivates the ideal franchisee by instilling the same qualities it takes to be successful in franchising: discipline, leadership, and the ability to follow an established system and process.
But, just because vets are ideal for franchising doesn’t mean all franchise brands deliver on their promises to vets.
Franchise Business Review recently released its annual report on the Top Franchises for Veterans. This year, 100 brands were named to the list based on independent research from approximately 25,000 franchisees. Franchisees were asked about their experience owning a franchise, including questions about the overall satisfaction with the brand, training and support, financial outlook, brand leadership, and more.
Each of the brands featured in the list received very high marks in owner satisfaction, and were highly rated by the vets that own them.
“The reality is that two-thirds of the thousands of franchise opportunities available today are simply average or below average opportunities,” said Eric Stites, founder and CEO of Franchise Business Review. “That’s the whole reason we do what we do. Franchise Business Review is like the Consumer Reports of the franchise world. We help prospective investors understand which franchises are the top opportunities—based on the actual performance and satisfaction of franchise owners.”
The report notes that reviewing third-party satisfaction data is especially important for prospective franchisees who are on active military duty and may be located abroad, which can make it challenging to do the necessary due diligence - calling current franchise owners, visiting local stores, and meeting with corporate staff - before investing in a brand.
Click here to read the full report.