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Franchise Discounts for Military Veterans

Written by: Mary Tomzack

Article Overview: VetFran is a simple voluntary program designed to be a win-win. It provides franchise companies with a pool of exceptional potential franchisees while offering very real help to veterans who want to acquire a franchise.

Franchise Discounts for Military Veterans

Military veterans are one of the most successful groups of small business owners in the country according to the U.S. Census Bureau. They own proportionately more small businesses than the general population, plus their gross income is more than twice that of non-vet owned small businesses.

Franchise companies have long recognized that veterans fit the ideal profile of a great franchisee. The parallels in background and orientation between veterans and franchises are clear. Veterans are disciplined, understand the importance of teamwork, and are willing to follow the rules to execute a proven system. It is no surprise that VetFran, a program created to help veterans become franchise owners, is one of the most poplar programs in the history of the IFA.

VetFran, originally known as the Veterans Transition Franchise Initiative, was spearheaded by the late Don Dwyer shortly after the Gulf War ended in 1991. It was reinitiated in 2003 with the cooperation of the U.S. Department of Veterans Affairs, the Veterans Corporation, and the U.S. Small Business Administration. VetFran now boasts more than 200 participating franchise companies and has enabled more than 600 former military personnel to become franchise owners.

VetFran is a simple voluntary program designed to be a win-win. It provides franchise companies with a pool of exceptional potential franchisees while offering very real help to veterans who want to acquire a franchise. There are two basic areas of tangible assistance:

1. Information: Through VetFran, the information available to veterans goes beyond what is available to the general public. The program provides specific information about financial and other assistance available from specific franchises.
2. Financial: Participating franchise companies offer special financial incentives to qualified veterans that are not available to non-vets. Incentives typically total tens of thousands of dollars worth of aid through reduced initial franchise fees, scholarships, additional training and support, or material credits.
Are you a veteran? For more information on the VetFran program, including a listing of the participating franchise companies, visit the IFA's website: www.ifa.org

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Re: VetFran Program - Hi Michele, Interesting video on the link you provided, especially when IFA President Matthew Shay was saying how Veterans are perfect for running franchises since they're accustomed to working within a system, and how franchising isn't for people who are independent and who want to do their own thing. More importantly, Matthew warns that you better love the franchise industry you're in because you'll have to wake up to it every morning, stay late and even work weekends to ensure its success. The article never stated how much of a discount they give to Veterans.
Re: Enticing Franchises - Top 9 List - All Franchise listed above are in millions of dollars. Do you have the list of Franchise in thousands
Re: Info for would be franchisers... - [quote="Sebastien":1d29sdv1]Like Franchise Times, Franchise Update is a very practical magazine. There is no blah blah, just straight facts that anyone in the franchise community can relate to. I just want to mention that all these magazines are NOT franchisee oriented. I mean these magazines are for franchise professionals. If you're looking to buy a franchise, you won't find much information in there. To answer your question, getting published in Franchise Times was fairly easy. I don't want to brag too much but I think I am known in the franchise industry. I was the marketing guy at Franchise.com for a few years before joining my new company, the World Franchising Network. So people know me and I have a very good relationship with Nancy Weingartner, the Managing Editor at Franchise Times. I was talking with her at the last Franchise Expo South in Miami and she mentioned she'd like me to be profiled. I was like "ok, sure!". I like this franchise executive profile thing in Franchise Times as it is rarely BS. People are usually really natural in there.[/quote:1d29sdv1] Thanks for the follow up Sebastien! And I can't say that I'm surprised that networking with the right people and managing your relationships with them properly are the keys to being published. I guess the old adage holds true of "it's not who you know, but who knows you" that's important.
how much for a franchise fee? - Dear Colleague There is no easy answer to this question. Things to consider: [list=] The sizeof the Franchise Clent base Expected Turnover Intellectual Property costs (recoup) Number of Franchises Number of employees Original Set up costs Franchise admin costs An example: A franchise that I was involved in setting was to a simple "lawn mowing/home repair" franchise. The Franchise included national/local advertising - preparation of client lists - general admin - central accounting etc The Franchise involved 300-500 clients - and an annual turnover of about $300,000 . The annual franchise fee was $30,000. Hope that this gives you some idea Take care Ian[/list]
Re: Franchise Surveys - Another good tool to researching a franchise is to speak with their existing franchisees. This contact information is included in most Franchise Disclosure Documents. In order to get a Franchise Disclosure Document or FDD as it is often referred to, you will have to complete a basic franchise application. The franchisor will then usually provide you with the FDD at that time. Included in that book of information is a list of the existing franchisees, the contract, the investment information etc... This information is required by Federal Law to be disclosed to your prior to making a purchase. So be sure to do your research and start with the Franchise Documents to get the initial information.


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