Veterans and Franchise Opportunities
When looking to take ownership of a franchise, a person has to look at the relationship as very long term. Unlike a bad job, where you can give a quick two week notice and move on, you can potentially get stuck in a franchise relationship for many unproductive years, so choose wisely. Make sure the franchise you choose offers the type of work you are looking for and can maintain the lifestyle you want. Consider if there is an annual income you will need or whether you will take out a business loan. When considering owning for example a burger chain franchise, for veterans it can be tricky. Many different aspects of this life changing business decision need to be considered. If you put in many hours of hard work and potentially your life savings the payoff potential can be huge.
There is no doubt in the work ethic of a United States veteran. They endured years of rigorous training and then are thrust into a war time environment. This makes Veterans ideal candidates to own a franchise. This amazing group of people are hardworking, used to systems and structure and willing to follow rules, all necessary qualities of a business owner. In addition to their amazing work ethic they often find themselves in need of a new career after their time of service is exhausted. Owning a franchise is a great way to be your own boss and build a successful business for generations to follow.
Discounts for Veterans
Many franchise opportunities are waiting on veterans. This ideal group of people can find many special incentives when looking to open a franchise of their own. Franchisors are eager to help veterans realize their dreams of owning their own business. Most likely the discount franchises will offer will come off the top of the initial fee. Some veterans that have been in the business longer have reported that occasionally the discounts will come off the yearly royalties as well. Either way, it is a great opportunity!
It only costs $40,000 to get started with a Burgerim franchise. Burgerim is offering a veterans discount of 20% off initial costs ($15,000 in savings). Click here to get started and a Burgerim franchise specialist will contact you with more information.
Do the Research
Any franchise owner should do exhaustive research before diving into a franchise deal, and veterans are no exception. Take your time and get all the information to consider. If you are new to the world of business it might be a good idea to hire a broker to help you navigate through all the paperwork. Brokers will also help guide you towards a franchise opportunity that fits the need in your community and fits your lifestyle. This is a great option for people to take advantage of. Always be careful of opportunities that sound too good to be true, because they likely are!
What to Look For
When you are evaluating a potential franchise opportunity to purchase, there are some key factors to consider. Make sure the chain you are investing into is a good fit for your community. For example, if the community already has two of these particular chains in business, maybe it’s time to look at something different. Also make sure you are financially prepared for what it will take to run a brand new business. Buying into a franchise takes a lot of hard work and many long hours getting the new business off the ground. When researching a particular franchise look at their growth margins and profits over the last several years. This will give you a great idea of whether or not this chain is successful.
Veteran franchising is on the rise because of several key factors. They are hard workers and hold great self-discipline. Surveys are clear in the results when they show veterans have a much higher success rate when running a franchised business. Another great perk that studies show veterans enjoy is working with partners and family members. But remember burger chain franchise for veterans is a process that should be taken slow and steady. This group of people have high hopes for great pay outs later and even to help future family members. According to research it only takes half the normal cost for a franchise to train a veteran as opposed to a civilian buying a franchise. Overall, it’s a great idea and an exciting business opportunity for veterans.