For many retired military veterans, business ownership serves as a natural next step in transitioning back to civilian life. According to data from the U.S. Census Bureau, there are more than 2.5 million veteran-majority owned businesses across the country. VetFran reports that while veterans account for about 7% of the population, 14% of franchisees are veterans.
In general, there are many skills that veterans learn in the military that are needed to run a business. Veterans who choose to re-enter the workforce through business ownership find that these skills seamlessly transfer over and enable them to succeed.
Here are five key reasons why veterans can make great business owners. And, check out our special incentives for military veterans here at Spherion below!
1. Appreciation for processes and systems
Many veterans are attracted to business ownership—and franchising in particular—because they’ve established an appreciation for structure. Through rigorous training efforts, drills and operations, veterans understand the importance of following commands and adhering to specific rules. The success of a business, especially a franchise, relies on the replication of quality processes across the system—veterans are willing to follow those systems because they know they will help them succeed.
2. Natural leaders
In the military, veterans work with diverse groups of people who possess various skill sets and come from all sorts of backgrounds. They’re united by common goals and objectives and will work together and motivate each other to see them through. The business world is no different! Veterans bring a strong team-driven mentality that naturally sets them up well for leadership roles in a business setting.
3. Dedication and discipline
Dedication and discipline are two non-negotiables for successful leaders, whether in the military or in business. Both situations present a variety of tasks that aren’t always easy to handle. It takes the right balance of dedication and discipline for business owners to excel at the aspects of the business that they’re passionate about, and also tackle the not-so enjoyable tasks (and still do them well). Veterans are highly-motivated individuals who are equipped with both the dedication and the discipline it takes to run a business through the highs and the lows.
4. Ability to work under pressure
Throughout their service, veterans are entrusted with enormous responsibilities and face high-pressure situations. As a result, they develop skills, such as risk-taking and problem-solving, that enable them to handle stress and any challenges that may arise along their entrepreneurial ventures. Business ownership is often a fulfilling journey, but it’s not always smooth sailing—having the ability to keep a clear mind when the going gets tough makes business ownership all the more rewarding.
5. Incentives for military veterans interested in franchising with Spherion
Spherion is proud to offer qualified franchise candidates who are U.S. military veterans the following incentives as a small token of our gratitude:
- A 25% discount off the franchise fee, reducing the fee from $35,000 to $26,250
- An office technology package, eliminating need to purchase laptops and more ($6,000 savings)
- Tuition for two (owner and one staff member) to Spherion's Sandler sales training workshop and a 12-month subscription to the follow-up curriculum and refreshers ($900 value)
- A $1,000 marketing credit to be used for promotional items, sponsorships, advertising or other expenses not already covered by Spherion's comprehensive marketing plan and support