Compelling Reasons: Why Veterans Make Good Franchisees
By guest contributor Chris Coleman
If you’ve ever done any research into the franchising environment, you may have noticed that many franchise companies offer Veterans a discount on their initial investment. Why is that? Well, there are a couple reasons why. First, this is a way for many franchisors to say ‘thank you’ for serving. Many of us feel you’ve gone above and beyond to protect our country and secure our freedoms. Second, there’s a general consensus that Veterans typically make great franchisees! Franchisors find that Veterans, with their leadership and teamwork skills and propensity for following a system, make ideal business owners in the franchise space. Let’s take a quick look at some of the reasons why Veterans are so sought after by franchise companies.
You can’t investigate this without first establishing a key finding. For many, that key finding would be the similarities that exist between franchise operations and the order and structure built into military service. We in the franchising industry know that a franchise is successful because the bedrock of its operation depends upon a defined set of principles and procedures that, when replicated, have a high chance of success. Our friends in the military community know that having a defined mission is essential to success; a successful mission, in turn, can usually be replicated, mitigating risk in future operations.
One example of those similarities is training. One of the key advantages of franchising is the amount of training and support that goes into the development of franchisees and their respective franchises. In the military, many of you began with basic training. In a franchise system, you may be required to attend their version of basic training, alongside other new franchise owners. Both are examples of an accelerated learning atmosphere where you’ll ramp up your knowledge of processes and procedures quickly. And we all know that the training doesn’t stop once you graduate from your basic course. The same goes for franchise support systems, all of which make ongoing education, training, and support a key ideological framework.
No discussion about Veterans and franchising would be complete without a reference to teamwork. If you’ve ever heard the phrase, “teamwork makes the dream work,” keep in mind that it applies to franchise operations as well as military training and execution. Much of our military organizational framework is built around groups and teams of men and women – troops, squads, platoons, regiments, divisions, and so on. Franchises rely on the same framework, the same type of top-down leadership as the military, to ensure the success of their operations.
The remaining similarities are no less obvious. The ability to thrive under pressure is a suitable quality in both a Veteran and a franchise owner…neither are strangers to long hours, hard work, and a payoff for effort at the end of the day. Lastly, discipline will always win the day…the military and our Veterans depend upon it and strong franchise brands demand it. In some sense, we can actually tie teamwork and discipline together – successful teams tend to have some sort of accountability structure in place and good franchise companies facilitate accountability groups throughout their system to encourage franchise owners to be all that they can be.
There are plenty of statistics that speak volumes about Veterans and small business ownership. From 2012 U.S. Census Bureau and Small Business Administration information, data suggests that approximately 2.5 million businesses – nearly 9.1% – were Veteran-owned. Within the small business ‘space’, franchising itself is a successful business platform for many Armed Forces Personnel – Veterans, Family members, National Guard & Reserve, and even Service Members on active duty. Many reports detail that approximately one in seven U.S. franchises is owned by Veterans. Did you catch that? One in seven franchises is owned by a Veteran! There must be a compelling reason for that statistic…
While there are a lot of synergies between franchises and the military, researching the nearly 3,600 franchise concepts can be tricky. If you or someone you know is a member of the military community looking to establish a business foothold in civilian life, I recommend connecting with a local franchise consultant to help navigate those waters. And don’t forget what they say – ‘teamwork makes the dream work’…
Chris Coleman is a second-generation franchise consultant & a franchise owner with over 20 years’ experience in the industry. He and his team provide no-cost consultations to individuals seeking business ownership opportunities. Chris currently owns franchise territory in 4 states, sits on the Board of Directors for FranNet, and serves as Vice-Chair of FranNet’s Franchise Advisory Council. Connect with Chris on LinkedIn here or visit FranNet.com for more information on franchising.
Do you have any experiences you’d like to share about your military-to-civilian transition? Anything that might benefit others in our military community, facing the same challenges? If so, email [email protected] and tell us your story…