Small Business Opportunity for Veterans
Veterans comprise roughly 7 percent of the U.S. population, but they account for 14 percent of franchise business owners. More than 238,000 former military and their spouses have capitalized off franchise opportunities for veterans in the last five years alone. Financial incentives like investment discounts and small business grants make it easier for veterans to make the transition.
Why a Franchise Makes the Perfect Small Business for Veterans
When it comes to small business for veterans, few opportunities are as suitable. Here’s why:
- Freedom – A franchise, particularly the semi-absentee franchise, can be managed in less than 40 hours per week, leaving room to spend time with family and pursue a civilian career or other investments.
- Structure – It’s easy to feel adrift when transitioning from the rigorous, highly structured military life to civilian life. Franchise operators receive all the information they need to run a successful business.
- Hit the Ground Running – It can take a long time to build a business from scratch. By contrast, franchises are turnkey-ready businesses that allow veterans to put their skills to work immediately.
- No Experience Necessary – Franchise businesses appeal to first-time business owners, as they offer support for planning, operations and marketing. Most brands have name recognition already.
- Special Rates – Over 500 franchise companies openly promote investment opportunities to veterans and offer discounts or incentives to help veterans get their franchises started.
- Executive-Level – It can be frustrating to move from a top rank in military service to the bottom of the ladder. Owning a franchise allows veterans to maintain high status in an executive role.
Why Veterans Make Great Franchise Business Owners
Franchise companies love veterans and promote veteran business opportunities for many reasons:
- Skills – Veterans possess strong management and communication skills. They are well-suited to the highs and lows of running a business and appreciate the structure that franchising provides.
- Referrals – Veterans often keep in contact with other like-minded individuals. If a particular opportunity is working, they are likely to hire veterans as employees and help friends grow the franchise.
- Customers – Veterans spend 16% more than the average U.S. household, and they like to support veteran-owned businesses whenever possible. Also, the general public places great trust in veterans.
- Company Standards – Veterans take great pride in their work and often elevate the company’s standards by working toward a higher mission, acting respectfully and strengthening the franchise.
- Branding – Consumers are choosing businesses based on mission, values, and which causes they support. Providing veterans with business opportunities puts the franchise in a more favorable light.
Business Grants for Veterans
While the V.A. itself doesn’t facilitate a transition to franchise ownership, many other organizations offer business grants for veterans. The U.S. Small Business Administration runs a Veterans Advantage loan program to support veterans looking to start a franchise. Additionally, companies like Clothes Bin® provide a $5,000 discount for veterans opening their first franchise.
Contact Clothes Bin® for Veteran Business Opportunities
Clothes Bin® proudly ranks among the top franchise businesses for veterans to start. The concept is simple: the green bins are located around town; contributors add their used and unwanted clothing to the containers; you send them for recycling. Then, you get paid. Most owners put in less than 40 hours per week managing their franchise, which makes it an ideal opportunity to scale up or pursue on the side of other pursuits.
Entrepreneur Magazine lists us as one of the “Top 100 New Franchises.” The Clothes Bin® team combines over 125 years of experience in collecting and distributing recycled textiles. An astounding 17-BILLION POUNDS of clothing waste ends up in landfills unnecessarily each year, so you can think of us as part of the Green Movement to turn this tide.
Contact us to learn more about mission-driven business opportunities for veterans.