Franchise Opportunities for Veterans: A Path to Business Ownership

You’ve already proven you can lead, solve problems and get the job done under pressure. The skills that helped you succeed in the military can also help you succeed in business.

If you’ve ever thought about being your own boss but don’t want to build something from the ground up, then franchise ownership might be a perfect fit.

Many Veterans choose franchising because it offers freedom with structure. You get to run your own business, but you also get support, training and a proven system. These will feel familiar after military life and help with your civilian transition. In fact, many top franchise companies offer Veterans special programs like discounts, extra support and tools to help you succeed.

In this article, we’ll walk you through franchise opportunities for Veterans, what to think about before getting started and how to find the right fit for you.

Why Veterans make great franchise owners

The pressures and strengths that define military life often translate directly into successful business ownership. Veterans know all about discipline, leadership, being adaptable and having a mission-first mindset.

With a franchise, you’ll get a proven system to follow, but you also get to make decisions and grow your business. As a Veteran, you know how to follow a plan and adjust when things change. That’s exactly what running a franchise is all about. 

Franchising gives you the chance to be your own boss while still having support. You’ll get training, marketing help and guidance along the way. For many Veterans, that can help make the move from military life to business ownership smoother and more successful than starting a business on your own.

Top programs to support Vetrepreneurs

Thinking about becoming your own boss? Several organizations have created special programs to help Veterans become successful business owners, including franchises. These resources offer everything from guidance and training to ongoing mentorship and funding connections:

VetFran

VetFran connects Veterans with franchise options through a network of franchise companies that offer incentives just for Vetrepreneurs. The program includes reduced franchise fees, financing help and dedicated support throughout the startup process.

SBA Veterans Business Outreach Centers (VBOC)

SBA Veterans Business Outreach Centers (VBOC) provide free business counseling, training and mentorship to Veterans starting or growing their businesses. These centers understand the unique challenges Veterans face in business ownership and can offer help creating a business plan.

Warrior Rising

Warrior Rising focuses on helping Veterans launch and scale their businesses through education, mentorship and access to capital. They offer both online resources and in-person support tailored to Veteran entrepreneurs.

Second Service Foundation

Second Service Foundation provides grants, loans and business development support just for Veteran-owned businesses because access to capital is often the biggest hurdle for new business owners.

The Rosie Network

The Rosie Network empowers military spouses and Veterans through entrepreneurship programs, including business training, mentorship and networking opportunities that can be vital when starting a franchise.

10 examples of brands with Veteran franchising incentives

Many established franchise brands recruit Veterans as franchise owners, offering reduced fees, financing help and special training programs.

Here are 10 examples that highlight the types of Veteran franchise incentives that businesses may offer and the ranges of initial investments you may need to make to launch your franchise:

Source: This information was gathered from the franchise websites, VetFran.org and FranchiseBusinessReview.com.

These are just a few examples. You can explore more options through resources like VetFran.org or Franchise Business Review. 

8 key questions to ask yourself before starting a franchise

Before you commit to franchise ownership, you should have sources to help support business ideas for Veterans, and make sure you have the information you need to make a smart decision. These questions will help you evaluate whether franchising fits with your goals and situation.

1. What are my personal and professional goals?

Consider what you want from business ownership beyond income. Are you looking for flexibility? The chance to build something lasting or to serve your community? Your franchise choice should align with your broader goals.

2. What industries am I passionate about or experienced in?

Your military experience likely gave you expertise in areas like logistics, technology or leadership. Look for franchises that can use these skills and match your interests.

3. What’s my target budget, and how much capital do I have access to?

Franchise costs and fees vary a lot across brands. Be realistic about how much money you'll need to succeed. Expenses include startup costs, funds required for the first year and your personal living expenses during the ramp-up period.

4. What is the local market demand and competitive landscape?

Research your local market thoroughly. Is there a demand for this type of business? How much competition exists? Some franchises work better in certain geographic areas or demographic markets.

5. What kind of support does the franchisor offer, and what’s their business track record?

Look into the franchisor’s training programs, ongoing support, marketing help and financial performance. Talk to current and former franchisees to understand their experience.

6. What kind of Veteran incentives does the franchisor offer?

Many franchisors offer helpful benefits for Veterans, including reduced franchise fees, financing help or extended training programs. Make sure you understand exactly what’s included.

7. What are the legal and contractual obligations when opening a franchise?

Franchise agreements are complex legal documents. Have an attorney review the franchise disclosure document and contract before you sign. Understand your ongoing obligations, territory restrictions and exit options.

8. What is the expected return on investment (ROI) on a franchise business?

Ask for financial performance data from the franchisor. Be sure you understand how long it typically takes to be profitable and how much income to expect. Most businesses take time to turn a profit, so plan accordingly.

Financial tips for starting and running your franchise business

Franchise ownership requires significant upfront investment. The typical range is between $50,000 and $500,000 or more depending on the brand and location. Most Veterans need financing to start a business after leaving military service. Several available options can help Veteran entrepreneurs succeed:

• Veteran-specific SBA loans offer favorable terms and lower down payment requirements for qualified Veterans. These loans help Veterans access capital for business ownership.
• Small business loans from a bank or credit union can provide the capital you need, often with competitive rates for qualified borrowers with strong credit and business plans.
• Grants and competitions are available through various groups that support Veteran entrepreneurs. Grants don’t need to be repaid, but you’ll likely have to meet specific requirements and beat out the competition to get one.
• Personal savings, retirement rollovers or partnerships are options to provide startup capital. Carefully consider the risks of using personal funds or retirement assets before deciding to proceed.

Once your franchise is up and running, you’ll need the right financial tools to manage cash flow, track performance and plan for growth:

• Business checking and savings accounts help you separate personal and business finances. These business accounts give you the banking services you need for daily operations.
• Business credit cards help you easily make purchases for your business and track your expenses.
• Business loans and lines of credit offer flexibility to manage seasonal fluctuations or common unexpected expenses.
• SBA loan assistance can provide additional funds to expand, buy equipment and more as your business grows.
• Financial tools can help you optimize your business finances and set yourself up for long-term franchising success.

Navy Federal is here to support Vetrepreneurs

Your military service prepared you to lead, and franchise ownership might be your next mission. Whether you’re ready to dive in or you’re still weighing your options, Navy Federal’s Business Solutions team is standing by with the financing, banking tools and dedicated support you need to transform your entrepreneurial vision into a thriving business.