Take a look at the statistics, and you’ll see that veterans are struggling to enter the private job market after serving our country. Here is just some of the latest research from the United States Bureau of Labor and Statistics:
- Female veterans see the highest rates of unemployment at 5.4%
- Of the 495,000 unemployed veterans, 57% were over the age of 45. 37% were between 25 and 44
- 5.4% of veterans with a service related disability are unemployed.
The silver lining in all of this is that unemployment overall is down. Jobless rates for all veterans is 4.6%, which is about 1.4% less than the previous year.
Still, finding a job in the private sector after serving the country isn’t always easy. This vulnerable workforce have tremendous leadership skills and have proven to be hard workers, yet their lack of experience in non-governmental roles makes it harder to compete in the private market.
One solution? Starting a franchise.
Veterans Make Exceptional Leaders
Entering the private sector is a challenge for many veterans. Although this demographic of employee has experience operating under stringent work environments, earning a paycheck from someone else isn’t always ideal. Veterans have put in their time of service and now, they want to experience the upsides of entrepreneurship.
Many veterans want to use the leadership experience they gained during their time of service to start their own business. That drive proves beneficial when leading a team in the private sector too. They’ve learned how to communicate effectively and rally a group of people to work toward a common goal.
Risk and Reward
For many veterans, risk is less of a factor than for those people who have never ventured far from home. Although the types of risks faced in business ownership are worlds apart from the types of risks experienced in war zones, the mentality that veterans have proven to have of facing challenges head on is beneficial. It’s unique to people who have served in this capacity, and it transfers well to the risks of putting your financial life on the line to start a business.
Which Franchises Are Best for Veterans?
Yes, veterans make strong leaders and are uniquely able to take on the risks of starting a business, but which franchises specifically are good for those who have served?
The Military Times recently released a list of the top 43 best franchises for veterans. The list was compiled taking into consideration the franchise culture, performance, costs, and financial support available to veterans and active-duty service members, as well as their families.
The type of franchises deemed best for veterans varies greatly. From planning dream vacations with CruiseOne to putting together dream homes with Budget Blinds, there are a wide variety of options to choose from.
Are You a Veteran Ready to Start Your Franchise?
If you’ve always dreamt of working in the private sector but don’t love the idea of earning a paycheck from someone else, starting a franchise might be an excellent option for your future. Clearly define your personal skillset, goals, interests, and then research the best franchises for veterans. This will help you decide whether franchise ownership is right for you.
Susan Payton is the President of Egg Marketing & Communications, a marketing firm specializing in content writing and social media management. She’s written three business books, including How to Get More Customers With Press Releases, and frequently blogs about small business and marketing on sites including Forbes, AllBusiness, The Marketing Eggspert Blog, and Tweak Your Biz. Follow her on Twitter @eggmarketing.