With the solemn 15th anniversary of September 11th now behind us, we reflect on the impact this tragic event had—and continues to have—on the way we live and the way we work. In this week’s blog edition, we’re going to take a closer look at how franchisors can attract and retain U.S. Veterans as franchisees. We will also explore how this often overlooked segment of the population have undoubtedly proven their worth as small business owners.
Veterans often become top-performing franchisees for many unique reasons. First and foremost, their training has provided them with continual lessons involving the key tenets of dedication, honor and commitment. By nature, these former military members are goal-oriented and tend to prosper in structured environments. The leadership skills which they have innately adopted make them natural born managers who know how to deal with staff and subordinates.
Furthermore, U.S. Veterans also tend to work well and relish environments where a strong support system is present. That alone is a key selling point for over 3,000 different franchise concepts. Well-defined procedures and processes built into franchise operations allow these individuals to flourish. Veterans, by nature, are also entrepreneurial, actually preferring to “take charge” and become effective team leaders. In addition, their roles in the military have prepared them to act upon orders, making them ideal candidates for performing well within a defined operating system or culture.
A study undertaken by Syracuse University, “The Business Case for Hiring a Veteran: Beyond the Clichés,” previously tackled the subject of whether or not veterans make good franchisee candidates. Their discoveries actually reads like a desired candidate profile, describing former servicemen and women as “high-performing entrepreneurs and innovators [who] tend to be successful in managing risk, identifying reward, and navigating the complexities of entrepreneurship because they possess a strong need for achievement, [and making] decisions in the face of high stress, dynamic environments.” The study went on to state that, “…military service instills characteristics consistent with successful entrepreneurs: high need for achievement, trust, strong comfort with autonomy, and dynamic decision-making processes.” Sound like someone you’d want running a business on behalf of your franchise brand? We think so, too.
Just a quick Google search on the topic yields numerous programs and initiatives targeted specifically to facilitate the matching of veterans with franchise opportunities. An excellent example is Veterans Business Services, which provides consulting specifically in the franchise arena and includes a helpful section on how to secure the best financing options for franchise ownership and the further procurement of assets and resources.
If your franchise operation doesn’t have a program or initiative currently in place to attract U.S. Veterans, it’s worth your time to review your outreach and look into it. As for the hundreds of thousands of servicemen and women, we know they have sacrificed much for our safety, freedom and well-being. After their transition back to civilian life, we owe it to them to offer what we can in the way of entrepreneurial opportunities.
As a franchisor who is interested in U.S. veterans and likeminded individuals as potential franchisees, Proven Match is the proven solution in determining those factors. Through our proven behavioral assessment techniques, predictive analysis becomes predictive success for your franchise concept. If you’re ready to show your leadership by getting started, give us a call and we’ll put you on the path to a more productive year in 2016.