Military Veterans have an added advantage over other people who want to start their businesses. They possess the two crucial skills that are needed to thrive in a business; discipline and passion to serve others.
If you are a veteran pondering the idea of starting your business, then here are 32 franchise opportunities that you can consider.
Why Are Veterans A Better Fit For Owning Small Businesses and Franchises?
If you observe former service members’ qualities, such as being hardworking, disciplined, and detail-oriented always top the list. Therefore, when Veterans take up the task of owning a small business or a franchise, they bring their skills and qualities to the table. They are familiar with working in a team environment and taking orders from a superior. All such qualities help a business to move in the right direction.
How Is The Franchise Industry In 2022?
The Franchise Industry is a prosperous business model that is raking in almost $826.6 billion, according to the International Franchise Association (IFA).
Whereas, the Small Business Administration (SBA) has stated that out of 31.7 million small businesses in the United States, 11% are franchises.
Why Is It Better for Veterans To Own A Franchise?
- A franchise has a secure business model and a track record. This means that when you are buying a franchise, you are investing your time and money in a small business that has already proven to be successful.
- When you buy a franchise, you will surely receive basic training and assistance to help you get started. However, many franchises continue to offer their support even after the initial phase. This ensures that you will get support from the franchisors to help get your business up and running.
- Some franchises adopt a system known as the ‘turnkey franchise system’. In this system, the franchises help the franchise owners with site selection, build-out, and even grand openings. This way the franchise owners can establish their businesses much more quickly.
- Small Business Administration (SBA) has financing programs that are specifically customized for Veterans. This way the Veterans can get the funding they need to own their franchise.
- When you opt to purchase a franchise, you are buying into a brand that has already made its name and whose customer base is already established. By this, you get an edge, in terms of marketing, over other business owners who choose to start their own business.
What Are Some Of The Best Franchises For Veterans?
Becoming a franchise owner is a great opportunity for Veterans, especially because of all the perks that come with it. This is why we have organized a list of some of the veteran-friendly businesses or the best franchises for veterans to own:
1. Snap-On Tools
Snap-On Tools is a great prospect as a franchise for honorably discharged veterans. This company offers countless incentives to these veterans. Other than this, Snap-On Tools offers its franchises an initial investment ranging from $171,385 to $359,767.
2. BIGGBY Coffee
If you are a Veteran who is passionate about coffee, then BIGGBY Coffee is the brand for you. BIGGBY Coffee offers a half-off discount to qualified veterans on any initial franchise fees. The cost of a franchise can be anywhere from $276,000 to $439,000.
3. Dream Vacations
If you want to work from home and want to invest as little as possible, then Dream Vacations is the answer for you. As a U.S Veteran or a military spouse, you can avail a 30% discount on the initial franchise fee. Besides this, you can get your hands on the franchise for as low as $3500.
4. Anytime Fitness
Anytime Fitness is a great opportunity for veterans who wish to enter the fitness industry. It has a business model that can get you to stand on your own two feet in little time. If you wish to own this franchise, then the total investment ranges from $381,575 to $783,897.
5. UPS Store
It may seem like a burden to own your own UPS Store franchise as it can cost you over half a million dollars. However, if you are a qualified veteran, UPS Store can get you a $10,000 discount off the franchise fee.
6. Mathnasium Learning Centers
If you wish to invest in the education industry, then Mathnasium Learning Centers provide a great opportunity. They have an investment fee combined with an initial franchise fee that is less than $150,000. The Mathnasium franchise considers a low-cost franchise and is suitable for those veterans who do have not good money to start the franchise business.
7. Budget Blinds
Budget Blinds offer financial assistance to its qualified candidates from their in-house financing. They are willing to give away up to $56,000 in financial assistance. Besides this, if you are a veteran, you are entitled to a 15% discount on the purchase price. If you are looking for a small business with low cost and fewer teams Budget Blind is the best option for you as a veteran because of the 15% discount.
8. Visiting Angels: Senior Home Care
Visiting Angels: Senior Home Care is another opportunity for Veterans to invest in. They will have to pay as much as $130,000 to gain ownership of the franchise.
9. Fast Signs
Fast Signs has a business model that has proven itself to be a success. To gain access to a Fast Signs franchise, you need to invest an amount ranging from $234,317 to $322,489. This amount is inclusive of the franchise fee.
10. Two Men and a Truck Moving Services
If you like a job requiring physical exertion, then the Two Men and a Truck Moving Services franchise is a perfect fit. It is a moving company that is offering its franchises for an investment fee from $164,000 to $435,600. Other than this, you also get an added incentive if you are a veteran or a spouse of the veteran. You get a 10% discount off the initial $50,000 franchise fee.
11. Tint World
Tint World offers the veterans community a 10% discount off the initial franchise fee if they wish to get ahold of the franchise. The investment will be up to $399,500 to attain the franchise.
12. Five-Star Painting
If you belong to the honorably discharged veterans’ community, then you are eligible for the VetFran program of Five-Star Painting Company. In this program, the company will offer you a 15% discount on your initial franchise fee. Five-Star Painting is giving away its franchises for a total investment fee of up to $185,000.
Experimax will give you a chance to flaunt your tech skills. You can invest a minimum of $175,000 to own their franchise and start offering your services at a Walmart near you.
14. Molly Maid
If you are interested in opening your franchise and providing maid services, then Molly Mid is the answer for you. To open your franchise, you will need to invest an amount between $127,000 to $184,450. If you are a veteran, then you get a 15% discount on the initial franchise fee.
15. Sports Clips
If you want to be a part of an award-winning franchise then Sports Clips is a good choice. To own this franchise, you will have to pay in the range of $266,300 to $439,500.
16. Baskin Robbins
Baskin Robbins needs no introduction. It is one of the most popular ice cream franchises worldwide. To become an owner of the Baskin Robbins franchise, you will need to invest as low as $90,000.
17. DreamMaker Kitchen and Bath
DreamMaker Kitchen and Bath is offering its franchises to qualified veterans at 20% off initial franchise costs. Besides this, you would need to invest a total of $209,775 to $396,650 other than the additional franchise fee.
18. Grease Monkey
If you are planning on investing in the automotive industry, chances are that your business will likely succeed. If you want to invest in a Grease Monkey franchise, then you are going to need a net worth of $450,000 and $150,000 to invest it.
19. Pillar to Post
Pillar to Post is a great opportunity for veterans. Not only because it has a low start-up cost but also because the company offers to deduct a percentage of the initial franchise fee.
20. Oxi Fresh Carpet Cleaning
Another great opportunity for veterans who desire a low start-up cost for their business is Oxi Fresh Carpet Cleaning. You will need to invest as low as $50,000 for the franchise as a start-up cost.
For all the fast food fanatics, Checkers is a good option to own a franchise. However, you will need to pay an amount ranging from $724,523 to $2,009,400 as a start-up cost.
22. Crunch Fitness
Crunch Fritters is a perfect opportunity for veterans who wish to help others get fit. The initial investment is a bit on the high side. The total investment would sum up to $2,129,500 apart from the cost of the real estate.
23. Mosquito Joe
If you want to step into the pest-control industry, then Mosquito Joe has a great opportunity for the veterans. If you want to own a franchise, you will need to invest an amount between $109,700 to $148,700. To top it off, if you are a veteran who is also a part of the VetFran program, then you get a discount of 15% off your initial franchise fee.
24. Mr. Handyman
If you are a veteran who loves to help around the house, then Mr. Handy is the right franchise for you to invest in. Even though the start-up cost is $117,500, qualified veterans will get a discount of 15% on their franchise fee.
25. Sylvan Learning
Sylvan Learning is a perfect opportunity for people who want to delve into the education industry. It employs a time-tested teaching method and offers franchises starting from $85,525. One drawback of Sylvan Learning is that they have made it necessary that you have at least $75,000 in cash without a bank.
26. Edible Arrangements
Edible Arrangements has a large fan base and franchises located all across the world. They offer honorably discharges veterans and current active military personnel a $10,000 discount off their initial franchise fee. The initial investment fee can range from $173,600 to $373,450.
27. Pirtek USA
Pirtek USA has its roots in many industries such as agriculture, defense, earthmoving, manufacturing, and engineering. It would require you to make an initial investment somewhere between $346,800 to $782,300. Besides this, they offer qualified veterans a 30% discount on their initial franchise fee.
Dunkin’ is a household name in the United States but it has also spread its roots to over 45 countries worldwide. To own a Dunkin franchise, you have to make an initial investment of $95,700 to $1.6 million. As for the veterans, those who purchase a Store Development Agreement for up to five stores get a discount of 20% on the initial franchise fee.
29. Fetch! Pet Care, Inc.
Fetch! Pet Care, Inc. is a company that is all about pets and their needs. If you are a pet lover then this franchise could be your dream come true. Its estimated initial investment is around $19,967 to $28,167. It is also a great option for veterans as they get 25% off on their initial franchise fee.
30. ProSource Wholesale
ProSource Wholesale has the reputation of being the country’s largest home improvement franchise. Veterans who are willing to invest in this franchise will need to put up an initial investment fee ranging from $509,649 to $518,258. Other than this, veterans are entitled to receive a 57% discount on the initial franchise fee.
31. Eye Level Learning Centers
Although Eye Level Learning Centers originated originally from South Korea, they have since spread out all over the world. They aim to provide children with supplemental education so that they can learn and thrive at their own pace. If you are a veteran interested in this franchise, then you will need to make an initial investment of $59,388 to $126,750. Besides this, you will also receive a 50% discount on the initial franchise fee.
32. Home Helpers Home Care
Home Helpers Home Care is a company that aims to provide monitoring, personal, and in-home medical services to people who need them. These can be pre and post-natal mothers, seniors, or other people recovering or suffering from medical conditions. They are also committed to providing their services to veterans who need in-home care. If you are interested in owning this franchise, then you will need an initial investment of $84,750 to $136,900. As a veteran or qualified military personnel, you will also get $5000 off.
How To Pick Out the Best Franchise As A Veteran
Many veterans make the mistake of only focusing on the financial aspect when they set out to buy a franchise. In reality, they have to broaden their scope and focus on other characteristics to find the franchise that fits them best. If you are a veteran looking out for the best franchise for yourself, then here are some things that you should consider:
· The Company’s Reputation
The first step when you are planning to buy a franchise is to check the reputation of the company whose franchise you are considering buying. Not only this, but you also have to cross-check the reputation of their franchises to see what their customers and employees are saying about them.
· Support of the franchisor
Another thing to keep in mind is to gain insight into the kind of support that the franchisor is willing to offer. You should choose a franchisor who is willing to offer you life-long support.
· Evaluate Your Interests
It is also important when choosing a franchise that you see which piques your interest the most or what skills you possess that would take your franchise to the next level. So, you should pick a franchise that aligns with your interest and skill set.
· Initial Investment
Lastly, the amount that you are willing to invest in your franchise is very important to consider. Note down how much you are willing to put in your franchise and then act accordingly.
How Much Do You Need To Own A Franchise?
The price of owning a franchise can vary drastically depending on the location, industry, type of franchise, location, initial application fee, and initial franchise fee. The lowest cost of owning a franchise can be around $10,000 and it may go up to $5 million or even more. The cost of most franchises falls between these two limits. As for the start-up costs, they can also vary from $100,000 to $300,000.
How Popular Are Franchises With Veterans?
In the U.S, franchises are widely popular among veterans. Statistics indicate that more than 66,000 veterans have grabbed hold of the opportunity to own a franchise and this number is only going up with every passing year.
The secret behind the popularity of franchises among the veterans lies in their ongoing support, an established business model, and turnkey operations. All these factors make a franchise a success among the veterans.
Is It Profitable for A Veteran To Own A Franchise Business?
Generally speaking, it is profitable for a veteran to own a franchise business. This is because owning a business ensures that a veteran has financial stability after their military service period has ended.
Many veterans adjust well to the franchise system due to their qualities. They are disciplined, able to follow a system, and have great organizational skills. All these characteristics ensure that the business is run like a well-oiled machine.