Why veterans can make great franchise business owners
I believe that veterans have numerous characteristics that can make them successful business owners and franchise operators. Operating a franchise requires a variety of skills – and the military tends to cultivate these skills. Following are the top skills that veterans often gain from their service to our country that benefit them when they operate their own business.
Standard operating procedure (SOP)
This is a term well understood by those having served in the Armed Forces. Veterans are accustomed to following a plan, a system or a step-by-step method for accomplishing a goal or mission. They readily follow a systematic approach and that’s exactly what the best franchise opportunities offer in their business models.
The military demands discipline from members of our Armed Forces. It’s a necessary component of military procedures. Successful franchisees are very disciplined, following the playbook as provided by the franchisor.
Ability and willingness to learn
While franchisees must follow a set process and structure, they must also have the ability to learn new skills in order to run their businesses. Veterans are open to learning new skills and embrace the concept of life-long learning.
Some people say that franchisees must be risk takers. Quite the opposite is true. Franchises and veterans take on the franchise business model because much of the risk has been removed. The business model has been proven and works. Veterans have been taught military tactics and that avoiding big risks is critical to successful military operations. That trait carries over to business ownership.
Today’s veterans are tech-savvy. Veterans are graduates of the world’s largest technical training school system. They have acquired technical skills in many areas that transfer to franchises: supply, IT, electronics, transportation, finance, employee healthcare, logistics, legal, clerical and more.
Exceptional people skills
Franchisees interact with people all the time. Retail franchises typically require managing frontline employees and handling numerous transactions with consumers. Other franchises may provide business services that require more time intensive and personal interaction with clients. Most career veterans achieved a role where they supervised people, so they know the importance of building goodwill and gaining loyalty and trust.
Last, but not least is perseverance. Franchisees must have perseverance, resiliency and confidence. Veterans have been trained to persevere, to fight through the tough challenges. They know when to ask for help and are good at adapting to an entrepreneur’s mindset.
Operating a franchise creates numerous opportunities for veterans seeking to own and grow a sustainable business. Please be aware that there are numerous resources available for veterans if they’re interested in pursuing franchise ownership. Veterans seeking to better understand the franchising business model should do their research. Talk to other veterans that are operating a franchise business. Ask them about the pros and cons. And don’t forget that a franchise coaching firm, like Franchise Strategy Partners, offers free franchise coaching and consulting services to veterans. A franchise coach can really help a veteran sort through the programs available and identify the franchise models that best match their career and life objectives.