Why Veterans are nearly three times more likely to own a franchise compared to non-Veterans

Disclaimer: The sharing of any non-VA information does not constitute an endorsement of products and services on the part of VA.

According to the Department of Labor, about 1 in 20 working age adults is a Veteran. According to the International Franchise Association, about 1 in 7 franchise owners is a Veteran. Put those together, and it means that Veterans are nearly three times as likely to own a franchise as non-Veterans.

Most people are shocked to hear this. But you shouldn't be. Here's why.

Veterans are wired to tolerate risk

As Veterans, we signed up to go into harm's way. Risk of physical and emotional harm is inherent in military service. In civilian circles, we often find people getting stressed out and concerned about seemingly trivial things. In response, I've heard many a Veteran say something to the effect of, "Relax. We'll be fine. Nobody's getting shot at."

A proven business model and multi-layered support network mitigate the risk of franchise ownership versus starting a business from scratch, but it does not eliminate it. Veterans are trained to perform under pressure and assume risk because we're wired that way-and trained to do it well.

Military training and franchise training look very similar

When I was in Naval Aviation, the NATOPS manual told us how to safely and effectively operate and maintain the airplane. All Veterans have had similar training on weapons systems and warfighting processes.

Operating a franchise is similar. You're given an operating manual, are trained by experts and then told to execute the business plan, which Veterans do in a very disciplined manner. That franchise operating manual took lots of time and money to perfect. When you buy into a franchise, you benefit by learning from someone else's mistakes. Unlike a stand-alone business where it can be lonely at the top, the franchising model is being in business for yourself, not by yourself. Franchising is a business in a box, with a tremendous support network.

Veteran benefits and passive income

Many Veterans have earned VA disability payments and military retirement pensions at a young age. This provides greater financial stability and passive income while you are starting your franchise. This gives you more financing options and gives you passive income while starting your franchise.

Plus, many Veterans have access to free VA or military retirement health care. Many civilians choose not to open a franchise because they'll have to go without health care insurance after they quit their job, or because it's so expensive. Not so for many Veterans.

And last, most franchises offer a discount on the franchise fee to Veterans. Few if any other groups are offered this discount.

Free franchise coaching services for Veterans

From deciding if you're cut out for franchising to selecting the best fit to walking through the due diligence and purchase, getting into franchising can be an intimidating process.

But you don't have to go it alone. Vetrepreneur offers a franchise coaching team who will walk you through a structured, 10-step, 10-week process for finding the right franchise. Vetrepreneur's services are free to Veterans and we will give you access to over 600 franchises in 15 different industries.

If you think you have what it takes to be your own boss, schedule a call with our team today. Simply go to www.vetrepreneur.com and schedule a call with one of our coaches, sign up to attend one of our Virtual Franchise Workshops or apply to the Vetrepreneur Franchise Academy.

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