How the VetFran Program Can Help Veterans Become a Franchise Owner
When veterans separate from the military, they often aren’t sure what comes next. However, there are many opportunities to consider, such as exploring franchise opportunities for veterans. Becoming a franchise owner is a logical choice for veterans who possess leadership skills, the drive to reach objectives and the determination to carry out established procedures. No matter how long it’s been since you separated from the military, you can take advantage of the VetFran program for the support you need to launch a franchise business.
What is the VetFran program?
The VetFran program was established during the early 1990s. It was initially named the Veterans Transition Franchise Initiative but is commonly referred to as “VetFran.” Originally, the VetFran program was launched to support military veterans who served during the first Gulf War. Its reach began to wane about a decade later. However, it took on renewed vigor following 9/11 with the involvement of the International Franchise Association (IFA).
Today, tens of thousands of military veterans have successfully launched their own franchise businesses with assistance and support from the VetFran program and its member franchise systems. More than 500 different franchise systems currently participate in VetFran.
How exactly does the VetFran program help veterans become franchisees?
The VetFran program recognizes that military veterans and franchise businesses make ideal partners. This fact bears out in the statistics. Although veterans account for just 7% of the U.S. population, they comprise about 14% of all franchise owners. To encourage more individuals to explore franchise opportunities for veterans, the VetFran program brings together franchisors and franchisees. Each franchisor must commit to offering a discount off the initial franchise fee to all veterans who were honorably discharged.
How large is the discount?
The discount on the initial franchise fee for veterans varies. The VetFran program has established a tiered system. Companies are ranked as one-star, three-star, or five-star members in accordance with the discounts they offer. A one-star franchisor member offers a discount of at least 10% on the initial franchise fee. Three-star franchisors provide a discount of 15%, and five-star franchisors offer a discount of 20%.
The amount of the discount isn’t the only factor that determines a member franchisor’s star ranking. It depends on the number of years they have been in business, the results of an audit and other factors. Regardless of star ranking, military veterans can rest assured that any VetFran franchisor they choose to work with is committed to giving veterans a leg up to thank them for their service.
Become a proud franchise owner with Clothes Bin®
At Clothes Bin®, we proudly support our military veterans for their sacrifices and service. We’re also proud to offer franchise opportunities for veterans as a member of the VetFran program. Our VetFran business franchise operates on a proven, time-tested business model built on years of industry experience.
With our textile recycling franchise opportunity, military veterans can receive all the training and support they need to launch a semi-absentee, zero-inventory business that operates on a flexible schedule and helps protect the earth for future generations. Fill out our contact form today to request more information about becoming a franchise owner.