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Veterans Can Make Good Franchisees

by Ed Teixeira

There are a number of reasons why military veterans can make good franchisees.

Approximately 17% of franchisors offer franchisee candidates who qualify as veterans, a discount off the initial franchise fee. This benefit is based upon several factors: some franchisors appreciate the sacrifice made by veterans and the personal qualifications they possess. Some franchisors believe that recently discharged veterans seek an opportunity to own and operate their own business and a franchise can provide that opportunity. Whatever the reason, the fact remains that veterans can make good franchisees.

Having served in the U.S. Army, I can attest to the skills, I believe veterans can bring to a franchise system.

1. Working in a highly structured environment and recognizing the benefit of following instructions

2. Knowing the value of teamwork and how important it is for an organization to foster and promote teamwork.

3. Leadership skills learned in the military can be transferred to civilian occupations including franchising.

4. Many veterans have been in the position of having had to make decisions under difficult circumstances.

5. Owning a franchise can provide a benefit that being an employee doesn't offer.

On the other hand, franchisors need to treat veterans with what I referred to as TLC in a previous article. This is especially true of:

· 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 techniques.

You can read the article by clicking here.

Veterans have certain traits that can help to make them successful franchisees, however, its important for franchisor staff to carefully evaluate the motivation and qualifications of veterans that seek a franchise opportunity.

2015 FranchiseKnowHow, LLC

Ed Teixeira is the President of FranchiseKnowHow.com and Chief Operating Officer, FranchiseGrade.com. He is a former franchise executive and franchisee. He can be contacted at 631-246-5782 or at  franchiseknowhow@gmail.com

 

 

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