Buy a Franchise
As unemployment rises, veterans are defying the trend, making up 15% of U.S. franchise owners, supported by affordable programs guiding them toward franchising success.
Boasting distinct leadership traits alongside strength in areas like team management has long equipped veterans reentering the workforce with a unique skillset, and franchises are another area where veterans can thrive.
Training to embrace ideas like risk and structure has made veterans a natural fit as entrepreneurs, with the U.S. Department of Veterans Affairs reporting veterans are about three times more likely to own a franchise in America.
Doubling down on concepts like structure and process, the military has rendered veterans adaptable in a world that provides franchisees with access to proven systems as well as continual support.
Franchising also allows veterans the chance to offer hiring opportunities to others with military experience, encouraging teamwork within a structured workplace where they can work together side by side, improving camaraderie and morale.
Last year, according to the Department of Labor, 8.19 million veterans were employed in America, with a 3% unemployment rate amongst veterans falling about 1% lower than the national civilian average.
A bright spot amidst an otherwise general increase in American unemployment, veterans are further supported by a number of programs offering financial support and entrepreneurial guidance, empowering the start of their franchise journey.
The VA provides coaching services at no charge as part of its Vetrepreneur effort, teaching veterans how to buy a franchise. Finding the right opportunity is crucial and the program offers them the chance to collaborate with a franchise coach as well as fellow veterans on the path to entrepreneurial success.
The International Franchise Association encourages such endeavors as part of VetFran, illuminating possibilities within the franchise world via the education of veterans and franchisors alike, while helping to coordinate discounts for potential veteran franchisees at more than 500 businesses.
When it comes to launching a franchise and scaling the business, Warrior Rising can assist, while Second Service Foundation helps with capital, offering grants and loans. Meanwhile, The Rosie Network focuses on networking with an eye on mentorship, connecting military spouses.
Veterans possess the rare ability to lead teams while adapting on the fly, just a small part of the reason they account for nearly 15% of franchise ownership despite making up only about 7% of the population.
Ultimately, skills developed in the military continually translate to success as franchisees, making franchises a great choice for veterans looking to explore entrepreneurship with a clear potential for long-term growth.
For more info on veterans in franchising, check out these related stories on 1851 Franchise:
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