The biggest hurdle facing military veterans when considering any business opportunity is the start up funding. However, the International Franchise Association has taken steps to address this problem. The IFA set up VetFran to meet the growing needs of military veterans in the USA. The program brings together over 350 franchises dedicated towards the promotion of franchising as a viable business opportunity for veterans. Typically, although it is not a requirement, franchises offer a discounted franchise fee. Some franchises, such as Little Caesars waive the franchise fee in some circumstance.
In addition, the Small Business Administration offer the following program:
Small Business Association’s Patriot Express: The SBA’s program accepts applicants from military veterans for business loans to kick start their career following transition. This program is not strictly confined to franchise opportunities. Loans are available up to $500,000 for business start up, expansion, purchase of equipment, working capital, inventory or business-occupied real-estate purchases.
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