When Don Dwyer Sr. created VetFran as a way to thank our troops with a little financial support, he probably never imagined it would turn into what it has become today. The International Franchise Association’s VetFran, G.I. Jobs and Entrepreneur Magazine, Inc. have all created special resources for America’s greatest protectors. 1851 decided to do the same.
“[Veterans have] certainly been a hot topic the past few months,” said Joel Libava, aka The Franchise King. The reason, Libava says, is because veterans are often strong franchisees.
“In a perfect world, yes, military veterans make better franchisees than anyone else,” he said. “They come from a rigid place; the military. There are rules, rules, and more rules in military life, and, they must be followed. Also, military men and women are highly disciplined, which is crucial for the owner of a franchise business.”
However, not every Veteran should explore franchising, Libava warns. “We don’t live in a perfect world, so not every veteran is right for franchise ownership. There are lots of variables, one of which has to do with just how much a particular veteran actually wants to become their own boss. There’s also a real possibility that there are limited financial resources from which they can to draw from, and that in itself makes it a high-risk venture.”
For those veterans who can source financial support and are interested in venturing into franchise ownership, 1851 has created the first annual Vet100, a list that highlights the top 100 veteran-friendly franchise opportunities. The list was created based on several categories: VetFran participation; G.I. Jobs approval; unit size; Entrepreneur Magazine’s Franchise 500 ranking; and overall commitment to Veteran franchise awareness. Throughout the month of July, 1851 will highlight, from 100 to 1, the top opportunities.