Veterans are making a significant mark in the franchise world! Their transition from military service to business ownership is proving to be a powerful move. Here’s why:
- Impressive Stats:
Veterans own 14% of U.S. franchises.
Over 66,000 veteran-led franchises generate $41 billion annually and employ 815,000+ people. - Higher Success Rates:
Veterans are 45% more likely to succeed as business owners compared to non-veterans, according to the U.S. Small Business Administration (SBA).
Why Veterans Excel in Franchising:
- Structured Systems and Discipline: Veterans are adept at executing established processes, much like following military protocols.
- Leadership and Management Skills: Leading teams under pressure is second nature to them.
- Resilience and Work Ethic: Their training fosters resilience, making them robust entrepreneurs.\
- Teamwork and Communication: Veterans excel in fostering clear communication and teamwork, crucial for business success.
- The Winning Formula: Veterans bring a unique set of skills to franchising. Their disciplined mindset and problem-solving abilities contribute to a thriving business landscape.
In Conclusion: Veterans are not just transitioning from service to business—they’re leading the way in franchise success. With strong support networks like VetFran and their exceptional skills, veterans set a high bar of entrepreneurial success.
