Franchise FastLane Celebrates Military Appreciation Month

As the month of May dawns, Franchise FastLane is excited to recognize and celebrate its status as Military Appreciation Month. Back in 1990, the U.S. Congress designated this annual remembrance to ensure everyone in America pauses to honor and recognize the sacrifices, contributions, and service of all branches of our armed forces, including service members both past and present. The appreciation culminates in the solemn Memorial Day holiday at the end of May, in which we pay our respects to those who gave the ultimate measure of sacrifice in defending the freedoms we too often take for granted. 

In celebration, we thought we’d present some facts that highlight why U.S. active duty service members and veterans are particularly cut out for franchise ownership. 

Fast Facts About Veteran-Owned Franchises 

It’s widely reported that seven percent of our population has served in the U.S. armed forces. But when it comes to franchise ownership, they make up 14% of all owners - equating to some 66,000 establishments. All combined, these businesses contribute more than $40 billion in GDP on an annual basis. These statistics alone are quite telling. But the nonprofit VetFran, which is dedicated to helping veterans transition from military service to civilian life, has a few more surprising facts to share. According to their research, 65% of all franchisors have seen a jump in veteran-owned establishments, a figure no doubt aided by the majority of brands – including those in Franchise FastLane’s portfolio - that offer discounted franchise fees to former service members.  

Primary Reasons Veterans Make Great Franchise Owners 

There are multiple reasons why veterans are naturally cut out for franchise ownership, but a few aspects have more importance than others when it comes to operating a business. First and foremost, military service members are provided with an extensive amount of training and support to acquire the specific skills necessary to achieve their stated missions. Sound familiar? One of the key attributes of franchising comes in the form of the comprehensive training and close-knit, ongoing support provided to franchisees. It's the reason why most brands don’t require prior experience or expertise to own. And it’s also why veterans feel right at home – they’re experts in receiving instruction and following through with orders. The next most important reason veterans make great franchise owners has to do with the proven business models provided by franchisors. Veterans are extremely used to extensive planning, following specific orders to a tee, and doing whatever it takes to complete the mission at hand. Just like franchising! 

Secondary Reasons Veterans Make Great Franchise Owners 

We’ve covered the primary reasons why former service members are cut out for entrepreneurship, but what other contributing factors help make business ownership a reality? Let’s discuss. It’s well known that in franchising, you need to have a solid work ethic to be successful. If you happen to know any veterans, you understand the sacrifices they’ve had to make in order to get the job done. Early wake up calls, late nights, and lots of strenuous effort are often required. The same goes for franchise ownership, which gives owners more than a fighting chance to outwork, outwit, and outlast the competition. Then there’s the camaraderie factor. Service members are drilled into relying on one another to get the mission accomplished – much the same way that individual franchisees can access support from the entire network of owners in the system. Again, it’s a notion they’re already quite familiar with when it comes to success. It takes rapport, trust, and reliance on more than one’s self – both in the military and in franchising. 

Franchise Resources for Veterans 

If you’re a U.S. veteran or active duty service member preparing to transition back to civilian life, there are extensive resources available to you in pursuing franchise ownership. We’ve already mentioned VetFran, one of the leading nonprofits that offer assistance and guidance for entrepreneurial pursuits. But there are several other entities whose mission is to encourage the pursuit of franchise ownership for active duty and veteran service members. These include: 

• U.S. Small Business Administration (SBA) – the SBA has an office dedicated to veteran business development and a great place to start is their renown “Boots to Business” assistance program.  
• Veterans in Business (VIB) Network – investing in the education, economic growth, and opportunities to promote veteran-owned businesses. 
• Warrior Rising – billing itself as a one-stop-shop for veterans interested in becoming their own boss, this organization promotes multiple educational programs and a wide range of support to help veterans eventually become “Vetrepreneurs.” 

At Franchise FastLane, we believe Military Appreciation Month is a special time to acknowledge the limitless contributions and sacrifices that our U.S. servicemen and women have made throughout our nation’s history. If you, or someone you know, is an active duty or veteran service member who would like to explore business ownership, Franchise FastLane invites you to review the 25+ high-performing brands in our portfolio. 

Are You Ready to Take Your Brand to the Next Level? 

Franchise FastLane is the No. 1 Franchise Sales Organization (FSO) in the country and our mission is to responsibly drive extraordinary growth for the chosen few. If you are interested in learning more about the possibility of joining the FastLane or CarPool, please click here to submit an application. To keep up with all the latest happenings, make sure you follow us on LinkedIn, like us on Facebook, and check out our collection of photos on Instagram.