Why would anyone invest in a franchise? You’re smart – you could start your own business, right?
The reality is, for most people exiting the military, where they report to someone else, starting a business from scratch is a lot harder than they could imagine. Our brains have been hardwired to do work for someone else – and then complain about it. That’s where we are comfortable. Veteran’s especially have been in a comfort zone in the military, but starting a business asks us to step outside of that zone and many people find it difficult to do that without some coaching of some kind.
Enter Franchising, a Hybrid Approach to Entrepreneurship for Vets
Now, we’re not talking about what most people think of when they consider a franchise – burgers or chicken sandwiches. Franchising is not just fast food. Many of the businesses you walk into everyday are franchises, although you might not realize it. Franchises are structure. Franchises are predictable. Franchises are executable. Franchising is a plan of action to follow. Perfect for veterans.
Franchising can work in different ways for different people:
- Fill a need in the community from something that people use everyday
- Operate a semi-passive franchise business and keep a regular job
- Dive in and be the owner-operator, AND your own employee from day one
- Invest in multiple units and build an empire quickly, or grow slower from one location
- Invest in a mature or emerging brand to match your risk tolerance
- Find a business that fits you, your family and your lifestyle, without starting from scratch
Veterans, know your options! Understand why some of the most successful entrepreneurs (and military veterans) own franchises, and why you can do this as well. Watch 7 Reasons Why Veterans Invest in Franchises Over Starting Their Own Biz to get the full scoop from a franchise owner, consultant and expert in the field, Cindy Rayfield.