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. Our 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: a) if franchising is right for them, and if so, b) finding and vetting the right franchise. 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 will admit between 25 and 35 veterans. There are six group classes which are one hour long. Each veteran will be assigned a franchise coach who will meet with them virtually about once every one to two weeks and will be available any time between scheduled calls. Along the way, our franchise coach will introduce the veteran to other partners as we travel down this exciting journey path together.
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.
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. We also recommend 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.