Franchising and Entrepreneurial Veterans
According to the International Franchise Association’s 2012 Veterans in Franchising Study, the industry has given more than 64,000 vets, military spouses and wounded warriors job opportunities in the past year. Also 4,314 new veteran franchise owners entered the industry since 2011, and were 30% more likely to have hired a veteran than a non-veteran owned franchise.
Just like in their service, veterans are looking out for one another once they arrive home. These veterans may vary by rank, military branch, and background, but they all share the same entrepreneurial drive to provide a good life for their families, create jobs, and to treat customers with respect and integrity
Why are veterans successful in franchising?
• Veterans come back with strong leadership skills and a thorough understanding of teams. Military experience includes leading people, improving processes, and accomplishing the mission. Just like in the military, in franchising, the mission is accomplished by the team.
• Franchises run on systems. Implementing systems and following procedures with precision, emphasized in military training, leads to success in franchising.
• Franchises provide training. Veterans are trained and taught very specific skills to be used to carry out very specific tasks. Franchises have comprehensive training and support built into their opportunities. This means a veteran can enter into a completely new field, follow the franchisor’s proven business model, and receive the training, guidance, and support a new business owner needs to succeed.
• Franchises offer support. In franchising, veterans are business “for” themselves, but not “by” themselves.
General Franchisee Demographics
• Business Tenure – The majority (52%) of franchisees surveyed have owned their business more than five years. 25% have been in business over ten years. 20% have owned their business less than two years.
• Units of Operation – 75% of franchisees surveyed indicated that they were single-unit operators.
• Geographic Distribution – Of franchisees surveyed, 17% were from the Northeast, 26% from the Midwest, 35% from the South, and 22% from the western US.
• Market Size – Of franchisees surveyed, 40% were based in small markets (under 100K population), 24% were in medium-size markets (100K – 250K population), 14% were from large markets (250K – 500K population), and 22% from major metro areas (500K+ population).
• Gender – Of franchisees surveyed, 72% are male and 28% are female.
• Age – The majority of franchisees surveyed (61%) are between the ages of 45 – 64 years old. Median age is approximately 50 years old.
• Ethnicity – Of franchisees surveyed, 77% indicated that they are Caucasian, 11% Asian, 4% Hispanic, 2% African American, and 7% Other.
• Education – 60% of franchisees surveyed indicated that they held a bachelor’s degree or advanced degree.
Satisfaction among veteran franchise owners is higher across the board as compared to industry benchmarks. Veteran franchise business owners have a higher rate of satisfaction regarding franchisor performance than the average franchise business owner, especially in the following categories:
• Marketing & Promotional Programs (12% higher)
• Effective Use of Technology (11% higher)
• System-wide Communications (9% higher)
• Training and Support (8% higher)
Overall, veteran franchise business owners express higher levels of enjoyment in franchising than their non-veteran peers. Four out of five veterans…
• Enjoy operating their franchise business (83%)
• Enjoy being part of their franchise organization (81%)
• Would recommend their franchise to others (79%)
High Touch High Tech proudly supports those who have served in the United States Armed Forces. In honor of these service men and women, we offer a franchise fee discount of 15% for all veterans.
To learn more about franchise opportunities with High Touch High Tech, visit us online at ScienceMadeFunFranchise.net.
High Touch High Tech is the leader in innovative hands-on science and nature experiences for children, serving over 4 million children annually with 27 franchise locations across the United States, Canada, Turkey, Singapore and South Korea.