Strong leadership skills, understanding of teams, following procedures with precision, and comprehensive training expertise. This is how Franchise Business Review reported why veterans are successful in franchising. According to a progress report that was prepared for the International Franchise Association (IFA), 97% of franchisors indicate that veterans are a good fit as franchisees within their company.
Truth be told, veterans have lived their lives with unique qualities that are best used in franchising instead of traditional business ownership. After all, every franchisor is looking for true leaders that believe in teamwork, run on systems, can follow precise procedures, and are capable of training their teams to ensure business success. For veterans, these requirements are built within them. They prove an outstanding record of leadership, discipline, and guidance for others.
“Franchising is good for veterans and veterans are good for franchising.” –IFA
Starting a business from scratch is a hard process to go through, especially if you have been away from the market for a while. But some people ignore the fact that you don’t have to start from scratch.
According to the International Franchise Association (IFA), veterans make 14% of franchisees in the United States alone. That makes 1 of every 7 franchise business owners a veteran. The association even explains it by saying “Franchising is good for veterans and veterans are good for franchising.”
The process of owning a franchised business is much easier than starting your own. Having the brand name, training, and support, will allow you to put your business on the map in the quickest time possible. And because operating a franchise is not as easy as owning one, franchisors are always looking for people with the right skill set and mindset to operate their franchises. For veterans, this is definitely an advantage.
The Mission
Many operating managers live in the present moment, they fear the future, they hide risks, they use their teams to find solutions, they report results, they blame other people, and they hide knowledge from their teams. Now, this is not the right way to operate a business. Unfortunately, many underestimate effective communication and relationship building in business, which puts their business at risk of closure.
Look at how chefs communicate with each other behind the scenes of a restaurant, or how soccer players pass the ball from one to another; giving each other the chance to score a win. Collaboration is key in building any team, and eventually a successful business. For veterans, teamwork is common sense. It’s the right thing to do, allowing them to pass their knowledge and experience from one to another and ensure both personal and professional success.
In addition, veterans know exactly what it takes to operate a mission; the importance of planning ahead, calculating the risks, thinking on their feet, analyzing the results, spreading knowledge, and build a team of warriors who are ready to face anything that may come. Operating a mission sounds very similar to operating a business, probably because every business has its own mission.
Veterans already have the skills to ensure proper operation management. Now all they must do is put their experience into action.
Skills in Action
Soldiers’ training covers different aspects that make veterans strong, creative, and flexible. For example, physical strength training in rigorous situations builds endurance in veterans. On the other hand, franchisors are looking for hard-working individuals who are willing to commit and succeed in business. Mental training allows soldiers to adapt quickly to different events. Meanwhile, franchisors are looking for individuals who are mentally strong and can make handle stress just fine; allowing them to make the right decisions in business.
Even in tech, soldier training empowers them to get up and running with new technologies. Meanwhile, franchisors are looking for individuals who are easy to onboard with brand new technologies.
Putting their lives on the line and serving their country allowed veterans to think of the greater goal before themselves. No cheating, no selfishness, and no greed which allows them to excel in operating their franchised business operation and keep both their employees and customers satisfied.
The skills and values veterans bring to franchises can actually be a great addition for the franchise itself. Sometimes, even experienced corporate managers don’t bring the same leadership skills veterans do.
As veterans, always ensure that the franchise you are choosing is the right franchise for you. After all, your values, experience, and skills should fit nicely with your new business. Now that you know what it takes to run a business, it’s time for you to work your magic.