Franchisors like to recruit military veterans as franchisees. The reason is veterans consistently have shown the capacity to excel within franchise systems due to their experiences. Specifically, successful veterans are familiar with following documented procedures as part of their service in the armed forces. This skill is one that franchisors value, and one that can dramatically contribute to success as a franchisee.
“There are a lot of attribute reasons [why franchising is suitable for military veterans,” according to Drew Myers, head of Recruit Military. “Character, integrity, work ethic, discipline—all of the things it takes to be really successful at running your own business.”
There are also talents and accomplishments associated with military service that are directly applicable to franchise brands. “Take Mr. Electric, perfect fit for an electrician on an aircraft carrier or ship,” says Drew.
The emphasis on recruiting military veterans into franchising is only going to intensify in the near future. The number of servicemen and servicewomen returning home from active duty will number in the hundreds of thousands each year.
Franchise expert Joel Libava nonetheless cautions, “Veterans can make great franchise owners. But they have to do great research and have enough resources to make it through the initial startup period. Franchising isn’t for everyone, and that includes veterans.”
Most importantly, veterans need to have a clear and informed understanding of what franchising is and how it works.
Franchising is a business structure where franchisors grant franchisees rights to operate their business system under an agreement in return for ongoing fees. Optimally, a franchise is a fully operational business concept with established and clearly documented processes. The franchisee becomes an individual business owner, and uses a pre-developed framework, typically in the form of training, operational guidelines, and marketing support, to refer to or use for ongoing guidance.
In a franchise partnership, the franchisor gains the capital of the franchisee as well as their drive and commitment to the success of the brand and their own franchise operation. Conversely, the franchisee gains important benefits in terms of established branding appeal and has the advantage of an existing developed business model to guide them.
One of the largest differences between franchises and independent small business counterparts is the presence of an operations manual.
The operations manual details all of the procedures involved with successfully running the business. Military veteran and writer on franchising for military veterans, Jim Wilson, writes:
“More important than their familiarity with the services produced by a franchise they may own is a veteran's familiarity with the structure and manner of producing those services from his/her military experience. Franchises are operated according to an Operating Manual in which the franchisor provides all procedures that must be followed to run the franchise... Veterans are familiar with having such a manual that details much of what they need to do to fly a plane, drive a tank, set up and operate a field hospital or kitchen.”
This element of franchising provides veterans (and all franchisees) with the information necessary to apply talents and thus successfully run a business by filling in some of the gaps along the way.
Running a franchise certainly requires effort just as any other business concept. The added benefit for franchise partners though comes through in the tried and true franchise system which serves as a valuable and established road map to business ownership.
Franchise Direct offers this military veteran information center to provide an overview of the funding, support, and opportunities available to military veterans interested in starting their own business through a franchise opportunity. Read on to find out more.