U.S. military veterans make great franchise owners when transferring communication, management, and leadership skills to entrepreneurship. Veteran franchise owners are also set up for success with financing from veteran-focused grant and loan programs, as well as supportive communities.
Why Are Veterans Great Franchise Owners?
The same qualities prized in the military are equally valued in franchise entrepreneurship:
- Pride and Dedication – The best franchise business owners take great pride in their work and aspire to higher standards, which elevates the brand’s reputation for everyone.
- Structure and Organization – A strong franchise comes with structured, tried-and-true systems that can be easily replicated and followed to achieve sustainable profitability.
- Leadership and Teamwork – Franchise business owners are top in command, but they must also delegate responsibilities to management and staff.
- Work Ethic and Resilience – No two days are the same when running a franchise. Veterans have the necessary resilience to deal with unexpected challenges.
- Branding and Image – Americans increasingly want to spend money on businesses with missions, values, and causes they support. Veterans also like to support one another.
Why Do Veterans Love Franchising?
Acclimating from a highly rigorous military schedule to civilian life can be difficult– but franchise businesses come with name-brand recognition and turnkey support for planning, marketing, and operations. All of this sets veterans up for success. In addition, they can work in a position of leadership, taking pride in building a local establishment and working toward a higher mission.
How Many Veterans Own Franchises?
Though 7 percent of the U.S. population have served in the military, veterans comprise 14 percent of franchise business owners. Franchises have also employed over 238,000 former military members over the last decade. The U.S. Small Business Administration runs a Veteran Advantage Loan Program that lends financial support to veterans looking to start their first franchise.
What’s the Best Type of Franchise for Veterans?
While there are many different franchises to choose from, many veterans like working in the fast-paced and social restaurant industry. The National Restaurant Association reports that over 250,000 military veterans work in the food service industry, with one-third working in management or supervisory roles. This natural inclination to lead has inspired veterans to own or operate some 58,000 restaurants across the country.
Why Veterans May Love a Smokin’ Oak Franchise
Smokin’ Oak is a pizza franchise operating in multiple states since 2009, renowned for fresh ingredients, fast service, and consistent quality. The fast-casual environment is equally suited for quick lunch takeout or leisurely sit-down dinner. Franchise owners are treated like family with a high level of ongoing training, knowledge sharing, and mentor support from a team with over 100 years of combined experience. To learn more about a Smokin’ Oak Franchise, contact us today