Veterans Fuel Economy via Franchising

Veterans Fuel Economy via FranchisingThe Surprising Way Veterans Fuel the Economy

Veterans are boosting the economy in a surprising way, thanks to their pioneering spirit, drive, and unique skill set.

As Richard Ascolese, President and CEO of franchisor Coverall North America, Inc. explained, “We have overwhelmingly found today’s returning veterans to be highly skilled people with excellent operational skills that apply well to business ownership. The independent thinking required in today’s military, combined with an emphasis on processes and systems, makes veterans a perfect fit for franchising.”

The Franchise industry has recognized Veterans’ aptitude for success and is fostering it through a number of programs designed to help vets get their small businesses off the ground.

In 1991, the International Franchise Association launched the Veterans Transition Franchise Initiative (VetFran) to encourage franchisors to offer discounts to military veterans who wanted to buy a franchise. The franchise industry, including Coverall as an IFA member and VetFran participant, responded by developing programs to recruit and train military veterans as Franchise Owners.

By 2007, 66,000 franchises were owned by veterans, according to the U.S. Census. Franchises owned by military veterans have annual revenues of $41 billion annually and employ 1.5 million people, reports the International Franchise Association.

G.I. Jobs Magazine recently released their Military Friendly Franchises® 2012 List. This list is helpful to entrepreneurial vets; though one in four returning active duty military veterans is interested in launching a small business*, most don’t know where to start, said G.I. Jobs Vice President Sean Collins. “The list is a transparent resource for veterans to compare franchise opportunities.”

For more details, read on here.

 

* according to the U.S. Small Business Administration

Post Author: Coverall
Coverall is one of the largest franchisors of commercial cleaning business in the world with a global network of over 8,000 Franchised Business Owners servicing more than 40,000 customers.

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