The sharing of any non-VA information does not constitute an endorsement of products and services on the part of VA. Veterans should verify the information with the organization offering.
Are you a Veteran who wants to own and operate your own business? Do you have the ambition and work ethic but not the experience or business idea? Would you like to be in business for yourself but not by yourself?
If so, then you may be a good fit for joining the estimated six Veterans who open a franchise every day in the United States, and do so with discounts on franchise fees offered only to Veterans.
But the process of getting into franchising can be daunting.
Most Veterans start at the “franchise buffet.” They Google “franchising” and other similar terms and get bombarded with information. But this rarely leads to an informed decision, or any decision at all.
To make that decision, Veterans need the right information, at the right time, with the right perspective, in a structured process led by an experienced, trusted advisor.
That’s where Vetrepreneur comes in. Vetrepreneur’s advisors, who we call franchise coaches, are high achievers with years of military business and franchising experience.
About the Academy
The Vetrepreneur Franchise Academy guides Veterans through a comprehensive 10-week, 10-step process to determine if franchising is right for them and, if so, finding and vetting the right franchise for them. At the end of the Academy Class, Veterans should either own a franchise or have decided that franchising is not for them.
Each Academy Class admits between 25-35 Veterans. There are six group classes lasting one hour each. Every Veteran will be assigned a franchise coach who will meet with them virtually about once every 1-2 weeks and will be available any time between scheduled calls. Along the way, franchise coaches will introduce the Veteran to other partners.
Vetrepreneur Franchise Academy is run by Vetrepreneur, a magazine, advocacy and business consulting Veteran-owned business which has been helping Veterans get into business ownership since 2004.
The 10-week process of owning a franchise
Veterans sometimes pursue a franchise because it’s on the “Best franchises in this industry list” or the “Top income producing franchises list.” Those may be good reasons to choose a mutual fund for your retirement account, but they are horrible reasons to choose a franchise.
Why? A mutual fund is managed by someone else but a franchise is managed by you. The process of choosing the franchise best suited for you is a custom fit.
Vetrepreneur employs a comprehensive, six-part custom fitting process over several weeks leveraging both science and experience, including a free franchise matching personality test. Those six parts include:
- Your why.
- Your fears and dislikes.
- Your lifestyle.
- Your skills and interests.
- Geographical preferences.
- Financial qualifications.
But choosing a franchise is only part of the process. The Vetrepreneur Franchise Academy will support you through an extensive due diligence process including:
- Introduction to franchisors.
- The franchise disclosure document.
- Validation with other franchisees in that franchise system.
- Custom-fitted financing plan.
- Tax strategies.
- Forming an LLC or corporation.
- How to maximize your chances of being offered to become part of the franchise system you’ve chosen.
- Discovery Day preparation.
- Negotiating and signing the Franchise Agreement.
After signing the Franchise Agreement, which takes about 10 weeks, it typically takes another 3-9 months to open the business. So if you’re within one year of wanting to open your business, now is the time to go through the Academy.
Qualifications
The most successful applicants for Academy admission are Veterans with a strong desire to open a franchise in the next 12 months, have the time to put at least several hours per week into the process and have a spouse or significant other that is open to it.
No prior business experience or franchising knowledge is required. So you don’t need to do anything to prepare for the Academy. It’s also recommended that Veterans do not go to the franchise buffet prior to the Academy or Coaching. Doing so will send you down pathways that may be irreversible and not in your best interest.
How to Apply
Register to attend the next online Information Session on Friday, March 14 at 3 p.m. EDT, or Friday, March 28 at 3 p.m. EDT. You can also watch a recording if you’re not available for the live Information Sessions.
Apply for the Academy Class that best fits your schedule. Applications and admissions are rolling, with a new class starting every 2-4 weeks.
Seats in the Academy are limited and demand is high, so please apply early. FAQs, class dates, syllabus and application deadlines can be found online at http://vetrepreneur.com/academy/va.
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Statement of Endorsement
Reference herein to any specific commercial products, process, or service by trade name, trademark, manufacturer, or otherwise, does not necessarily constitute or imply its endorsement, recommendation, or favoring by the United States Government, and shall not be used for advertising or product endorsement purposes.
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The sharing of any non-VA information does not constitute an [...]
I believe it is important that it be disclosed upfront how “franchise coaches” get paid. That in fact, they are going to steer the veteran into some franchise that pays a very healthy commission or fee for bringing them in and giving them over to the franchisor sales team. For example, if the franchise initial fee is $50,000, then possibly half of that could go to the franchise coach. Pretty good money.
Only a few states regulate franchise brokers/coaches/consultants’ activity. Veterans should be forewarned. Do not take advantage of veterans. See IFPG https://www.ifpg.org/ .
Is the spouse of a deceased veteran illegible for the program/