Let’s celebrate patriotism, love of country, and willingness to serve and sacrifice for the common good! Observed annually on November 11, we come together to recognize Veterans Day—the official United States holiday that honors the brave men and women who have served in the U.S. Armed Forces, past and present.
VETERANS & FRANCHISING: FAST FACTS
- According to the U.S. Small Business Administration (SBA), becoming a business owner attracts approximately a quarter of all U.S. veterans.
- Over 600 franchise companies are members of VetFran, leading their industries in making a tangible commitment to recruiting veterans.
- Even though veterans account for about 7% of the population, 14% of franchisees are vets. (VetFran)
- Veteran franchisees are more likely to hire veterans as employees, and 65% of franchisors have indicated that their rate of hiring veterans has increased in recent years. (VetFran)
- According to the International Franchise Association (IFA), one out of every seven franchises in the United States is owned by a veteran.
- An unbelievable 99% have reported that veterans have proven to be a good fit as corporate employees, and 97% said the same thing about their veteran franchisees. (VetFran)
Military experience makes for skilled franchise owners.
Veterans emerge from service with strong leadership skills and a thorough understanding of strong camaraderie through teamwork. Military experience includes leading and motivating people, improving processes, and accomplishing a defined mission. Like the military, successful franchisees and employees accomplish the mission with a dedicated team.
For veterans transitioning out of the U.S. military or looking for more income, franchise businesses are a popular choice.
Why? Because the leadership skills acquired in the military are assets to any entrepreneur.
Even if people think you followed orders all day, the reality is that veterans’ leadership qualities distinguish veteran franchise owners in many ways:
- You don’t shy away from problems. Many businesses go awry when owners hesitate to address problems. Veterans were trained to address them quickly and completely. Even in the face of chaos, military franchisees will take command and make sense of problems and actively develop possible solutions.
- You value relationships. The armed forces demand interdependency—each person a part of a whole. Veterans know that the success of their business mission requires other skills, other types of people, and more than just themselves. Veterans excel at networking and building a trusted corps of people who will help advance their goals.
- You show initiative. Any successful franchise owner will tell you that there is no job they are too proud to do. Veterans’ training uniquely includes all levels of needed skills. On the other hand, non-veterans may be college educated and have some private sector experience, and yet they will balk at doing inventory or washing trucks in their fleet. Veterans get their hands dirty and don’t tolerate leaving something undone, even if they have to do it themselves.
- You are dedicated. Venturing into entrepreneurship can be intimidating and fraught with doubt. Veterans, however, have learned to be confident in the result. And while a business will inevitably present its challenges, military veterans are focused on building something broader than themselves, bigger than the challenge, and better than anything else. They seek to conquer and thrive.
Normally, food franchises are the largest share of new franchises. However, among veterans, the wide variety of franchise types supports the fact that veterans have wide-ranging skills that are uniquely suited to business ownership.
Over 90% of the top 30 veteran-friendly franchises are not food-related. Veterans truly stand out and succeed.
Some offer reduced franchise fees and lower investments because they want to lure experienced military veterans. Franchisors recognize that veterans will contribute to their brands’ success, and they are smart enough to provide incentives.
