U.S. Veterans who served in any branch of the military can receive financial incentives to purchase franchised small businesses, not available to other franchise investors.
The future is bright for U.S. veterans, thanks to VetFran, a program started by the International Franchise Association (IFA), the U.S. Department of Veterans Affairs, and the Small Business Administration. Through the VetFran program, veterans are eligible for financial incentives to purchase qualified franchised small businesses. These incentives are not available to other franchise investors.
This unique program helps honorably discharged vets transition from military life to business ownership.
FranNet Colorado is a promoter of the VetFran program to military clients in Colorado. This is a deal just for vets, and it helps our military personnel get a fresh start as business owners after they are discharged. Financial incentives like these can help stimulate their businesses from the very beginning.
The VetFran program was started in 2003, and since that time, thousands of veterans have taken advantage of incentives to get started as business owners. Franchisors that are members of IFA voluntarily offer these incentives through VetFran. The program has grown from just a handful of participating franchisors in the beginning to over 400 today.
Not only do these companies want to help people who have served their county, franchisors also see this as an opportunity to find quality investors who want to own and operate a franchise.
Honorably discharged service men and women are good investors in franchise businesses because they are disciplined and dedicated, they are natural leaders and team builders, and they respond well to a structured program – all the qualities that franchisors look for in potential franchisees.
At FranNet Colorado, we know the VetFran program inside and out. We regularly work with the Transition Assistance Program (TAP) at the Air Force Academy in Colorado Springs. TAP provides assistance to military personnel who are transitioning from the military to the private sector. Some of those transitioning personnel are considering investing in a business of their own, and franchising hits the mark for these people.
Any potential client, military or otherwise, can utilize the services of a FranNet Consultant at no charge. That’s particularly appealing for military clients, especially here in Colorado where the military presence is so high. All potential clients are asked about their military history, as part of the FranNet process, to determine if they are eligible for the VetFran program. If a franchisor does offer incentives, we are able to share that information with our clients.
For more information about franchise opportunities and military transitions, contact Cindy Rayfield of FranNet Colorado at 720-261-4391 or crayfield@frannet.com.
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