Do you qualify for franchise ownership?
Most franchise companies require a liquid capital investment which can be in the form of cash, securities, 401K (with no tax penalties), or home equity. The following are minimum requirements:
→ Typically, a minimum of $25,000+ cash
→ A reasonable credit score.
TOP FIVE Reasons Veterans Succeed as Franchise Owners
The latest statistics show that 1 in 10 U.S. business owners are military veterans (U.S. Census Bureau). This is because they do a great job building their own businesses. This is why:
Leadership Experience ✓
When business owners have good leadership skills, they can build solid growth, keep their employees motivated, and make decisions that affect the success of the business.
Veterans lead in a selfless way that makes people want to be loyal and committed. Members of the military are often better prepared to handle the many needs of their business and staff. The health and mood of their team members are affected by the decisions they make as leaders.
Ability to Build a Team ✓
Teamwork is very important, but many business owners find it hard to communicate and give up control.
Teamwork is a big part of the military way of life, so veterans have a clear advantage in this area. Members of the military train and carry out their duties within a group. A lot of the time, their success depends on how well the team does. When you bring this attitude to a business, it builds stronger bonds and motivates other team members to do better, which all leads to better results.
Strong Discipline ✓
The truth is that when you work for yourself, no one is watching over your shoulder to make sure you stay on task. Business owners often have to do a lot of different things, and they need to be very disciplined to stay on track and do everything that a growing business needs.
When people think of people who have served in the military, discipline is one of the first things that come to mind. When this discipline is used regularly, it can lead to more productivity and faster growth.
Ensuring Performance Under Pressure ✓
New business owners have to deal with pressure every day. They have to deal with emergencies, give tasks to other people, and make quick decisions that move the business in a certain direction.
Many military veterans have been under the most pressure and had the most responsibility, so they are often well-equipped to deal with the stresses of being an entrepreneur while still being functional and effective.
Understanding Sacrifice ✓
Most business owners will say that, especially in the beginning, they had to give up things. In fact, it's almost always a key step on the way to success. Entrepreneurs may feel overwhelmed when they have to give up some of their social lives or time with their families to get their business going.
Military service is all about making sacrifices. Some veterans were stationed far from their families, others moved around a lot, and some were in danger of having to make the ultimate sacrifice. Making sacrifices to make sure their business does well seems like a small price to pay.
These are just a few of the best things about veterans who want to start their own business by buying a franchise. Each veteran's experiences and points of view give them a unique set of tools they can use to make their business dreams come true. We are excited to help you make your dream come true.
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Do you have questions about franchising or the services we offer? If so take a minute to complete the form and a Best Franchises To Own advisor will contact you right away.
Tony Brooks CFC Navy (Ret'd)
Certified FranServe Consultant
Best Franchises To Own
386-338-0203 - US
519-672-6397 - CAN
1-866-640-3375 - Toll Free
tony@bestfranchisestoown.com
www.bestfranchisestoown.com
Dream.Plan.Act
E2 Visa, Retired Military and Opportunity Specialist
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