From Military Life to Franchise Owner | VetFran

According to Statista, there are around 773,603 franchises in the United States.

While the amount of opportunities in franchising is certainly exciting to people who are looking for a change in their career, another benefit is the fact that you do not have to be an established business owner in order to moving into the world of franchise owner. All you need is passion and drive!

Ready to make the move from the military into franchising? Our VetFran team has three key steps that will help:

Choosing a Franchise

The first thing you want to do when deciding to move into the franchising world is to decide they type of franchise you want to own. From restaurants to hospitality, there are a variety of industries in which to franchise.

All you need to do is decide on the one right for you.

• Is it a brand you believe in?
• Is it a brand you can sell?
• Does the brand ultimately meet your goals?
• Do you believe in the people who are guiding the brand?

Funding a Franchise

Don’t have the money to fund a franchise on your own? No problem! There are many avenues you can take when it comes to funding your own franchise.

First, you want to consider speaking with the franchisor about the franchisor financing options that might be available to you directly with the franchisor. If available, this might be the only financing program you need to use in order to get your franchise off the ground.

Second, you might want to consider a commercial bank loan. In this process, it will be the bank who decides whether or not to fund your franchise.

Finally, small business loans (SBAs) can also help to fund a franchise, as these loans are very similar to a bank loan. However, they are partially funded by the Small Business Administration and are often most desirable for franchisees.

There are also often loan and grant options available for military veterans specifically, so keep an eye out for those opportunities.

Setting Up Your Franchise

Now that you have chosen and funded your franchise, it is time to start establishing your franchise within the community. Pick your location, hire your team and start marketing your franchise to let people know you are coming and are here to help people.

Remember, you don’t have to make the move into franchising alone. Our team at VetFran is here to help you every step of the way!

Are you looking to transition from a life in the military to a life in franchising? Contact us today to learn more about how we can help you get started by finding the right franchise.