Franchises Offer Start Up Discounts to Veterans
As a way to to honor those men and women who have served in the U.S. military, the Veterans Transition Franchise Initiative, known as “VetFran,” was developed to help veterans of the armed forces transition to civilian life and go into business for themselves. VetFran is a voluntary effort of International Franchise Association member-companies that is designed to encourage franchise ownership by offering financial incentives to honorably discharged veterans.
About 400 franchise systems offer some sort of discount to veterans and over 1,300 men and women now own their own businesses through the Vetfran program. You can find a comprehensive list of the companies participating in VetFran on the IFA website and using the website, you can also request information directly from the franchisor.
April 12th, 2009 at 8:26 am
I know of many franchise systems that are doing this. I’m not crazy about the program. I feel that few veterans are probably pre-wired for success in the franchise industry. It is often difficult for franchisees to make a good living, while the franchisor is paid fees even if the new business owner is losing money. It can be a risky endeavor, unless you know exactly what you are getting yourself into. I’ve successfully owned 5 franchises, and I know first hand that it is now for everyone. Giving vetrans a “discount” could potentially get them into something the should not be signing up for.
April 13th, 2009 at 9:02 am
bfranchise - Good comments. Franchising is not for everyone - that’s for sure. And veterans shouldn’t feel like franchisors are trying to coax or force them into a business that’s not right for them. I like to look at the financial break as a “thank you” for serving our country.
Some veterans are great franchisees. By being in the military they’ve learned to follow as system and many more established franchises have also refined a specific process for success. So the combination of finding something you’re passionate about and following the system can be a great match!