Seriously, veterans; don’t buy a franchise.
Don’t do it. Not yet.
Wait a bit. Get all the information.
Then decide.
Okay?
Veterans: Don’t Buy A Franchise
Just because you come from a background that’s highly regimented and full of rules doesn’t mean that you should automatically invest in a business model (franchising) that features a highly regimented business system that’s full of rules, too.
Now, it’s true that, in general, most veterans can be a terrific fit for franchise business ownership-but it’s not necessarily a slam-dunk. There are lots of other factors that go into successful franchise business ownership.
The business model of franchising is a great model, no doubt. But, a lot of things come into play.
You have to have:
- Enough money up-front
- Enough money stashed for ongoing expenses
- Enough money to pay your household expenses
- Family support
- The willingness to put in long hours
- An ability to manage people and processes
And, much, much more.
Here are 5 franchise ownership tips for veterans.
My Experience With Veterans
I’ve worked with a fair number of veterans over the years.
A gentle tip from The Franchise King®:
Do not buy a franchise until you know EXACTLY how to do thorough research.
Learn how here
I’ve only been able to work with around 20% of all the veterans I’ve met over the years. The reason: Money-or rather, lack of money.
Unfortunately, a lot of veterans these days…especially the ones who are coming back from Iraq and Afghanistan, are light on upfront money. (If you’re one of our returning veterans, this isn’t exactly news to you) That makes it tough to buy a franchise. It’s not like today’s lenders are being aggressive with their small business loan approvals-especially loan requests that come in with very little money down.
I’d really like an opportunity to work with more veterans. I really enjoy it. But, the reality is that it’s tough for a lot of them (you?) to gain access to small business loans.
Good News For Veterans
The White House, along with the SBA and the IFA, have been pushing to get more veterans involved in small business for the past couple of years, and it’s worked.
It was just announced that 5,192 veterans and military spouses have become franchise business owners since 2011, when the Operation Enduring Opportunity initiative started.
But, just because there’s been some good progress made in getting veterans like you hired and buying franchises, doesn’t mean that buying a franchise is the right thing for you to do, although it could be.
To help you (if you’re a military veteran) decide if becoming the owner of a franchise is the right thing for you to do now, I’m providing you with a copy of my popular eBook, free of charge.
“How To Carefully Select And Properly Research A Franchise” normally sells for $69.95, but for you (veterans), it’s free.
It’s my way of thanking you for your service to our country.
Grab the download of my eBook now by filling out the form below.
And, good luck!
