You sacrificed everything to keep your country safe and now that your military service is over you may be feeling a little at loose ends about what your future will hold. Don’t worry though there is still a lot of support out there to help you start this new chapter in your life.
Here are 3 benefits of franchising for veterans:
Perfect Fit for Your Skills
As a veteran, you have many skills from your time in service that will also be an asset to you as a franchisee. From your leadership skills to your ability to create and execute a plan successfully, your military training will help you run a successful operation.
Many veterans have found success in the franchise business. According to report by the Franchise Business Review, about 5,608 veterans became franchisees from 2011 to 2014. Veterans find it similar to the military environment because you are not starting a business from scratch and are given a support structure with different systems and procedures to follow. By joining a franchise program you have a safety net that you wouldn’t have if you were venturing out completely on your own. Franchising still allows you to be your own boss, but in a way that provides you the training and resources that will ensure that you succeed.
Special Incentives Offered to Veterans
Many franchisors offer veterans special incentives to join their franchise because they appreciate the skills you bring to the table. Franchises like 7-Eleven and the UPS Store offer discounted fees and special financing for veterans and Zac’s Burgers is working with several organizations as well to offer veterans special franchise opportunities with their burger bus.
If money is your biggest obstacle to becoming your own boss, then make sure you do plenty of research on the many financial assistance opportunities for veterans that are out there before you give up on your dream.
Luckily there are many loan program available to veterans and their families. To qualify though you will need to have a credit score above 650 and most likely a down payment of at least 10%. You will also need to demonstrate the ability to repay the loan. Another option is to borrow money from your retirement account, but only do this if you have $50,000 or more in your retirement account.
There are also other resources for veterans. By becoming registered as a veteran owned business with the VA’s Office of Small & Disadvantaged Business Utilization, you will be able to qualify for certain government contract processes that are reserved for veteran owned businesses and you will be able to apply for certain veteran financing programs. A government website called Business USA also provides a large number of tools and resources for veterans interested in either starting or improving their business.
In addition, StreetShares is a name you want to be familiar with. Not only do they provide loans from anywhere between $5,000 to 100,00, with repayment terms of 3 to 36 months, they also run a foundation through which they give out cash awards to veteran owned businesses every month.
The U.S. Small Business Administration (SBA) also offers a Veteran Advantage Loan Program which helps veterans get loans of up to $350,000 quickly. Typically you will get a response from your application within 36 hours.
VetFran, a strategic initiative of the International Franchise Association, has made it its mission to help veterans interested in joining a franchise program. Not only will they help a veteran determine if franchising is right for them, they will also help them find the types of franchises that will be the best fit for them. The franchise brands in their network also offer special incentives for veterans.
If you are looking for other types of resources and training, The SBA also sponsors a special entrepreneur training program for women veterans called Women Veterans Igniting the Spirit of Entrepreneurship (V-WISE). It is a 3-day conference that provides advice and resources for starting a business or improving upon your current one and is a great opportunity to network with other women veteran entrepreneurs. And the SCORE Veteran Fast Launch Initiative offers veterans free software, templates and business calculators. It also provides other resources like business workshops, one-on-one mentoring and five free hours of financial advice from a Certified Public Accountant. See if there is local SCORE office near you
Advantages of Choosing Zac’s
When you license a burger food truck from Zac’s Burgers who has locations in Philadelphia and the Delaware Valley, not only do you get a preset menu but you can also take advantage of their brand power. Zac’s Burgers is known for being a family-owned business that treats its customers like family. For the last 33 years, they have prided themselves on delicious made-to-order meals and friendly service at a reasonable price. All the food is made fresh with the highest quality ingredients and with unique twists like wacky zacky sauce.
The benefits of choosing Zac’s franchise program includes low start-up costs, low cost of goods, easily replicated franchise model, signature products and classic favorites as well as diverse menu offerings. You are given a sustainable business model to follow and plenty of training and resources, including marketing and advertising help.
If you license a Zac’s burger food truck, the benefits include low startup cost, minimal operating expenses, two weeks paid, personalized training, access to a commissary, as well as ongoing business support.
In addition, Zac’s is committed to supporting veterans like you. As a thank you to all you do, Zac’s offers special incentives to help veterans interested in becoming their own boss thrive in the business world. Zac’s also supports a lot of local veteran’s events as well. A family owned business, Zac’s believes in giving back and investing in the local community.
For more information about Zac’s Veterans Franchising Opportunities, click here.