GI-Jobs-Logo-Blue-Website
G.I. JOBS VIRTUAL JOB FAIR   I   SEPTEMBER 28TH

Is Franchising For Me?

3 reasons you might be a better fit than you think.

The important thing to know about franchising is that it requires the same attributes needed to run any successful business: leadership, passion and the willingness to do whatever it takes to succeed. Your franchise may come with a proven model, but you still have to run it, market it and manage it—and that takes work.

SOP INCLUDED 

“The harsh reality is that most businesses won’t make it past their five-year anniversary,” said Mike Haynie, Air Force veteran, founder of Syracuse University’s Institute for Veterans & Military Families (IVMF) and an expert in entrepreneurial decision-making and strategy. “A franchise has a recognized brand, established supply channels and standardized operating procedures, but the personal qualities, skills and attitudes that a franchisee must have are the same for all entrepreneurs.” 

VETS HAVE THE SKILLS 

As a veteran you are a step ahead of other potential business owners in this area. 

“Veterans historically have been in great demand in franchising because of their character qualities,” said John Hayes, franchise author and speaker. “They can follow orders—so they can follow a system.” 

A PREPACKAGED PLAN 

Franchises usually come with a proven method of business, which is a primary difference from a non-franchised business. 

On the other hand, depending on how much control you want, franchising may not be for you. 

“You will also be required to adhere to the rules and requirements imposed by the parent company,” Haynie said. “For example, you probably will not have the discretion to add items to your menu, or change packaging, and in some cases even your hours of operation may be dictated by your franchise agreement. An individual considering franchising as an alternative to starting a business on their own should be aware of these important differences.” 

MONEY! 

Make sure you can afford it, too. Many veterans use their pensions to fund a franchise until it breaks even.

WHEN TO TAKE THE PLUNGE 

If you know you have the business qualities and specific skills for the franchise you’re considering, have done your research on the franchise and are financially prepared, it’s time to act.

“The more you can prepare those close to you for these realities, the more likely you can successfully navigate the ups and downs of launching a new venture,” Haynie said. 

Share:

Facebook
Twitter
LinkedIn
register-login

Easy Access Account

Save your favorite information and recieve the latest on jobs, education, and franchise oppertunities. Just enter your email address for initiall registration and subsequent logins


register-login

Easy Access Account

Save your favorite information and recieve the latest on jobs, education, and franchise oppertunities. Just enter your email address for initiall registration and subsequent logins


register-login

Easy Access Account

Save your favorite information and recieve the latest on jobs, education, and franchise oppertunities. Just enter your email address for initiall registration and subsequent logins


Learn practical skills to achieve your goals.

Identify the companies, schools, and franchise opportunities that fit your goals

Discover the range of possibilities for your future.