Veteran Small Business Ownership Spikes
Great news coming out of the International Franchise Association’s Operation Enduring Opportunity campaign – an industry-wide effort to hire as team members and recruit as franchise business owners 75,000 veterans and military spouses by 2014: A new report by GI Jobs says that the total number of veteran-owned franchise businesses jumped at least 4,000 or 35 percent to a record 11,469 since the launch of Operation Enduring Opportunity last year with Joining Forces.
This is a huge leap - over 6,000 veterans have started careers in franchising as team members or franchise business owners since last year. And the numbers are growing.
To be successful as a franchise business owner, you need to follow a system with precision, respect procedures and structure, be a good leader, and understand operational excellence. These are the same traits developed in military training and experience - and America's veterans have them in spades.
That’s why the franchise industry started the VetFran program in 1991, launching a renewed effort last year with Joining Forces.
In franchising, it is said that you’re in business for yourself but not by yourself. The structure and support systems work well for veterans entering civilian careers. Also, veterans tend to hire veterans. The average franchise business employs 10 people.
And these companies are now renewing their efforts. The UPS Store, which has enabled 10 veterans to become franchise business owners by waiving all its franchise fees, just announced it will extend this opportunity to 10 more qualified veterans. WIN Home Inspection has allocated $1.2 million to offset start-up costs for qualified veterans joining its company as franchise business owners.
This is great news for our veterans, and great news for America’s franchise brands. “From honor…to owner,” goes the franchise slogan. VetFran’s Operation Enduring Opportunity is enabling veterans to become leaders in the U.S. economy and create the jobs we need.
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