Franchising to Veterans Requires Some TLC
by Ed Teixeira
As more franchisors provide returning veterans with franchise incentives
itís important not to treat them like other franchise candidates. They require
some special attention.
The franchise community, the International Franchise Association and Vet Fran
should be congratulated for its efforts to provide veterans the opportunity to
purchase franchises at a reduced cost. These efforts can be in the form of a
discounted franchise fee and/or other financial concessions. Although
these programs are intended to assist and reward our veterans, participating
franchisors should view these individuals differently than other franchise
candidates. Given the experience and leadership skills many veterans possess
these traits can make them excellent franchise candidates. However, the
franchise process should be conducted with the following in mind:
- The existing U.S. job market provides challenges for
returning veterans. The lack of job opportunities can make
franchising more appealing for veterans who can make some overly
eager to acquire a franchise.
- A number of veterans may have received separation or bonus
pay which they could use to invest in a business. Hopefully,
this extra income is invested wisely.
- There may be an emotional desire on the part of certain vets
to return to some form of work and participate in the economy.
This can make them somewhat vulnerable to aggressive sales
- Since the military provides direction and discipline
operating a new franchise could be difficult to adjust to. Going
from a highly structured to an unstructured environment could be
- Consider a transition program where a veteran could work in
a franchise location for a week or more in order to acquaint
them with the role of a franchisee before completing the
- Establish a mentor program where a veteran could work as an
employee and transition into franchise ownership.
The franchising community should be applauded for its role in providing
returning veterans financial concessions for purchasing a franchise. These
individuals can bring a skill set that most franchise candidates donít have.
However, there are other factors that separate a returning veteran from the
typical franchise candidate. As a result they deserve some TLC as they wind
their way through the process of investing in a franchise.
© 2011 FranchiseKnowHow, LLC
Ed Teixeira is the President of FranchiseKnowHow, LLC. He can be reached at
Manual For Franchise Buyers
Endorsed By American Association of Franchisees and Dealers.
you thinking about buying a franchise? There's a lot you need to know
before you invest if you want to be successful as a
franchisee. My guide,
Buyer's Manual, is a self-help tool that helps you decide whether or not
franchising is for you and teaches you how to get the information you really
need to choose the best franchise opportunity.
for more information.
Support Our Sponsors
Lead by eminent Franchisor Attorney