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Bouncing onto the VetFran Roster

Veterans are ideal franchise candidates for most franchisors. Perhaps that’s why more than  200 franchisors participate in the VetFran program providing financial incentives to veterans.  BounceU is the newest company to add their name to that roster, according to an article in this week’s Business Journal of Phoenix. BounceU is a franchisor of children's play centers. BounceU offers indoor stadiums filled with giant inflatable structures as well as additional play equipment and video arcade games. The program was created to provide children a place to celebrate birthdays and other special events with center personnel available to supervise activity.

Happy Veteran's Day!

CNNMoney.com featured a story on businesses for veterans, mentioning VetFran the program offered by the International Franchise Association. More than 14 percent of businesses in America are owned by veterans, according to the U.S. Small Business Administration. Since the VetFran program began, more than 600 franchises have been acquired by veterans through VetFran and another 150 contracts are currently in negotiation. Franchise companies mentioned in the online piece are Juice It Up!, a smoothie and juice bar chain headquartered in Irvine, Calif., Synergy HomeCare, headquartered in Gilbert, Ariz., a franchise that provides in-home care to individuals requiring daily living assistance, PostNet, headquartered in Denver, Colo., a franchise that offers shipping, printing and copying services and Express Personnel out of Oklahoma City, a $1.2 billion staffing firm. All of these franchisors offer discounts to veterans through the IFA’s VetFran program.

Vetfran in California

Many franchisors also offer discounts to veterans though the International Franchise Association’s Veterans Transition Franchise Initiative. VetFran allows veterans to acquire a franchise by receiving a financial discount.  The discount is determined by the individual company.  Some franchisors waive training fees, others discount franchise fees, but all agree to offer a better deal to veterans than any other qualified investor.

VetFran was developed in 1990 during the Gulf War. More than 150 companies have joined VetFran since 2002.  The program’s goal is to keep the cost of franchising low for veterans. All veterans of the U.S. Armed Services who were honorably discharged are eligible for the VetFran program.

Today's L.A. Times features an article detailing the program and highlights VetFran participants.

VETERANS THRIVE IN FRANCHISING

According to the Department of Veteran Affairs, there are millions of veterans living in the United States. Approximately 225 million active duty service members transition out of the military every year. Wondering what’s next, many turn to business ownership.

Men and women leaving the armed forces have the leadership skills, discipline, and high-tech training to succeed in the 21st century marketplace. With veterans so strong in number, they are very attractive to franchisors. Successful franchisors have proven operating systems in place, and in turn, look for franchisees to carry them out. Because of their training and discipline, countless military veterans have found franchised businesses to be a perfect fit for their skills.

Besides being coachable, the other intangible that veterans offer is the ability to make decisions. Veterans have not only been trained to follow the rules and regulations of a system, but also how to react. Franchising provides the framework and system in which veterans thrive.

With Veteran's Day around the corner, there will be plenty of articles on the International Franchise Association's VetFran program and veterans in franchising such as this Orange County Register article on The Sports Section franchisee and veteran Andy Stockglausner in California.