Veterans in franchising: Busting 5 common myths

Franchising is an ideal way for Veterans to get into business ownership. It’s the perfect hybrid between working for a company and starting your own business from scratch.

But countless Veterans who want to open a business through franchising don’t think they can. 

We compiled the top five reasons we hear about why think they can’t… and then bust those myths.

1.  It’s all restaurants, right?

If you can think of a service or product, there’s probably a franchise for it. Franchises run the gamut from home services, senior care, pet care, gyms, salons, tutoring and much more. There are even franchises for car detailing, drug testing, mobile flooring retailers and home cleaning.

All told, there are an estimated 2,000 different franchise brands available today, and the vast majority of those are not restaurants.

2. It’s too expensive.

Expensive is a relative term. Let’s talk numbers so you can judge for yourself. Most franchises are home-based, meaning they don’t involve a brick-and-mortar location. Most home-based franchises cost somewhere between $80,000 and $180,000 and require as little as $20,000 cash down. Franchises requiring a brick-and-mortar location will typically double that cost or more.

3. It’s too risky.

Sure, business comes with risk. But let’s put that risk into perspective. 

Few things are as risky as military service. As an old friend used to say, “In business, nobody’s getting shot at.”

In franchising, somebody else wrote, executed and perfected the business plan. Then they gave you all the answers on how to do it right. On top of that, franchises provide a support network of franchisors and other franchise owners. Top it off with aligned incentives. Franchisors are successful when their franchisees are successful.

4. I need business experience.

Never owned a business before? Don’t have experience in the industry? No problem.

Franchises train you. Then they follow up with a franchisor team that provides services like marketing, accounting set-up, vendor relations, operations, pricing and more. Plus, you have a team of fellow franchise owners who support one another.

Unlike a stand-alone business where it can be lonely, franchising is being in business for yourself, not by yourself.

Oh, and one other thing to think about. You didn’t have any experience when you joined the military, either…

5.  There’s no place to get trusted guidance on franchising.

From deciding if you’re cut out for franchising to selecting the best fit to walking through the due diligence and purchase, getting into franchising can be an intimidating process. But you don’t have to go it alone.

The Vetrepreneur franchise coaching team has boiled it down to a 10-step process that takes about two months. Our franchise coaches have impressive military and business backgrounds. They understand you. And they will introduce you to our financing, accounting and legal expert teammates along the way.

Our services are free to Veterans, and your cost to open the franchise is the same whether you use our free coaching services or not.

So if you want to see if you have what it takes to be your own boss, schedule a call with our team today.

Visit www.vetrepreneur.com/va to book a free call with a Franchise Coach or to register for our Virtual Franchise Workshop on Friday, Sept. 22, at 12 p.m. EST.

Disclaimer: Vetrepreneur is not affiliated with VA.