Benefits of Owning a Franchise
As a transitioning service member, you are in a unique position right now. You’re likely still relatively young enough to begin a completely separate career from your time in the military. Maybe you have a clear idea of the kind of life you want to leave post-service, or maybe you’re still weighing your options.
If you’re unsure about what to do, consider opening and owning a franchise. The main benefit of becoming a franchise owner is that your turn-key business will already have an established product or service.
This means most of the hard work has already been done for you. Someone else has come before you and developed a business model that’s proven to be successful, which means you’re less likely to make some common novice business owner mistakes.
Being a franchise owner also means that you have access to training materials that are honed from the experiences of many other businesses. In short, you’re able to learn from the mistakes of others without having to experience the mistake yourself. Many franchisors also offer their business owners comprehensive and robust training options, so you know exactly the best approach for your business in your market.
Because there is a parent (or corporate) company that handles much of the external facing marketing, you have less to worry about with regard to how to best showcase your business to your community. Corporate offices also handle marketing research, which takes another layer of stress away from you, the business owner.
Another distinct advantage to becoming a franchise owner is that much of the business brand (or identity) has already been established for you. This means that many of your customers are already aware of the business and have positive associations about it.
As a transitioning service member, you have innumerable resources for funding available. There are literally hundreds of franchises that work exclusively with veterans and service members. Exploring these options could be a good first step in determining if owning a franchise is right for you. Often, lenders will take into consideration your prior service and there are a multitude of lending options catered specifically for transitioning service members. However, the most important thing to consider is doing research about the company before you enter into any kind of agreement. Make sure it’s a good fit for you and the decision could turn out to be the most lucrative of your life.
Even though owning a franchise takes much of the guess work out of opening a business, that doesn’t detract from the real work that you’re going to have to put in to make it successful. Fortunately, as a transitioning service member, you’re no stranger to hard work.
Get started on your franchise TODAY