WASHINGTON – ExxonMobil recently became the 100th company to join the Veterans Transition Franchise Initiative, commonly known as “VetFran,” which makes obtaining a franchise more affordable for veterans.
“Through their service, America’s veterans have earned the gratitude of the entire nation,” said Dr. Leo S. Mackay Jr., Deputy Secretary of Veterans Affairs. “I am encouraged that so many corporations have chosen to thank veterans by helping place the dream of business ownership within their reach.”
The International Franchise Association (IFA) first introduced VetFran in the early 1990s as a way for franchisers to express gratitude to military members for their service during the first Gulf War. The program was re-introduced last September. The 100 companies offering VetFran discounts to veterans represent a broad range of small-business ownership opportunities, including restaurant, retail, service and technology franchises.
More than a dozen veterans have acquired franchises through the VetFran program during the past year, and applications are now being considered from about two dozen other veterans.
Many VetFran franchisers allow veterans to acquire a franchise with a down payment of 10 percent or less of the initial franchise cost, which generally ranges from $45,000 to $150,000 for a small business. Beginning July 1, ExxonMobil will provide a one-time waiver of up to $5,000 for certain training fees to any qualified honorably discharged veteran who has been identified for training to operate a specific Exxon or Mobil franchise dealer site.
“Today’s young men and women who are in the cockpits of our frontline fighters, on the decks of our fighting ships and in the turrets of our main battle tanks will be the veterans of tomorrow,” said Mackay. “VetFran offers the means by which many of them can create a meaningful civilian career when they put aside their uniforms.”
Additional information for veterans and companies interested in participating in the VetFran program can be found at http://www.franchise.org on the Internet. For information about other business opportunities and programs for veterans, visit VA’s Center for Veterans Enterprise Web page at http://www.vetbiz.gov.
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Reporters and media outlets with questions or comments should contact the Office of Media Relations at vapublicaffairs@va.gov
Veterans with questions about their health care and benefits (including GI Bill). Questions, updates and documents can be submitted online.
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