By Joey Williams
It is important that, post-military service, veterans have access to economic opportunity. That is why at IFA, we support veterans through our VetFran initiative. VetFran, founded in 1991, provides incentives, training, and mentoring to veterans transitioning to a career in franchising. IFA partners with over 600 franchises to ensure proper benefits for veterans.
While many career paths meet veterans’ needs and goals, franchising is uniquely suited to their abilities. Accordingly, the IFA Educational Foundation found that veterans own one in seven franchise businesses in the United States.
Franchising requires strong leadership, teamwork, and direction-following. After serving in the military, veterans have unmatched leadership experience. As a result, they can lead of a team of employees to meet successful results. Their appreciation and utilization of teamwork, stemming from high-stake military action, makes them perfectly fit to create an atmosphere where employees work for each other. A team-oriented organization is likely to meet their goals. Lastly, franchises receive extensive training to follow specific organizational procedures. Veterans leave the military with an unwavering commitment to follow instructions closely. These characteristics make veterans leading candidates to own and operate franchises.
Franchises recognize veterans’ success at running businesses, leading many organizations to encourage veterans to franchise. UPS, for example, offers $10,000 off the franchise fee for qualified veterans. While companies like UPS that support veterans should be venerated, they do this largely because veterans overwhelmingly display qualities necessary for owning a franchise.
Every day show your appreciation for the veterans who have dedicated their lives to protecting our freedom. At the same time, make sure they are aware of the economic opportunities that fit their experiences and talents. While our appreciation of veterans if often based on their past accomplishments, their future is equally important. Franchising represents a viable and highly rewarding option for veterans with entrepreneurial ambitions.