Veterans comprise around 6% of the U.S. population, however according to the International Franchise Association (IFA), they represent around 14% of all franchisees. Why are veterans so well-represented within the franchise market? Since they’re an ideal suitable for franchise ownership, thanks to their management abilities, capability to follow recognized treatments, and familiarity with believing on their feet and adjusting to obstacles. And numerous franchisors provide rewards such as franchise charge discount rates that make it simpler for veterans to begin an organization with them.
Which franchisors use the finest chances for veterans? Each year, we look for to learn by welcoming brand names to inform us what their veteran reward is, the number of their systems are veteran-owned, whether they hold any franchise free gifts for veterans, whether they have veterans on their management group, and more. We took all of those aspects into account– together with each business’s 2024 Franchise 500 rating, which is based upon an analysis of 150-plus information points in the locations of expenses and costs, size and development, franchisee assistance, brand name strength, and monetary strength and stability– to come up with our last ranking of the leading 150 franchises for veterans.
Our list is not meant as a suggestion of any specific business, however rather as a beginning point for your own research study. If you’re a veteran thinking about franchise ownership, it’s essential to do your research before investing. Check out the business’s legal files thoroughly, talk to a lawyer and an accounting professional, and talk with as lots of franchisees as you can to discover if the chance is best for you.
Related: 5 Business Lessons I Learned Working With Military Veterans
Satisfy a veteran franchisee …Joan Follmann of Cruise Planners (No. 14)
Joan Follmann served in the U.S. Navy for 21 years, retiring in 2003 with the rank of Yeoman Senior Chief (YNCS) with the classification of Aviation Warfare Specialist (AW). Now she assists individuals prepare their ideal getaways as a Cruise Planners franchisee.
Why did you select to franchise with Cruise Planners?
My option of Cruise Planners was deeply individual. My hubby and I had actually been dealing with a Cruise Planners franchisee to book our own cruises, and the smooth experience we had with him constructed a strong rely on the brand name. Rather just, we never ever thought about another business– it was Cruise Planners all the method.
How has your military experience assisted you as a franchisee?
My function as a YNCS(AW) and Flag Writer in the Navy sharpened my organizational and multitasking capabilities. Flag Writers resemble civilian executive assistants. I was accountable for handling travel plans, visits, and interactions for admirals, all while preparing for difficulties and setting top priorities. These jobs equated completely into running a franchise, arranging intricate travel plans, and preserving clear interaction with my customers.
What guidance would you offer to other veterans thinking about franchise ownership?