Why Veterans Lead in Small Business Ownership
What do you picture when you think of veterans?
When we picture veterans, independent franchised business owners comes to mind. Why?
Did you know that veterans employ nearly 6 million workers and account for one of 10 small businesses in the US? As a whole, veteran small business owners are 45% more likely to be self-employed than non-veterans.
When becoming a small-business owner, you rely on discipline and leadership to operate a business. And, a military background provides experience with structured environments and process-oriented methods – two important skills that can help you in running a business.
These skills and disciplines are a great addition to other characteristics of entrepreneurs. Online business portal, Entrepreneur.com, shared common characteristics of successful entrepreneurs and here are our favorite 5:
1. Take what you do seriously
2. Project a positive business image
3. Build a rock-solid reputation
4. Become known as the expert
5. Get to know your customers
In an economy where veterans are dealing with unemployment, lack of civilian work experience and transitioning back into civilian life, making the decision to start their own business is one way they build on their skills and grow. Coverall, named “2014 Top Veteran Friendly Franchise” by U.S. Veterans Magazine, offers training to operate a commercial cleaning franchised business, as well as business support services to help take some stress out of running a business. Approximately 9% of Coverall’s Franchised Business Owner base are veterans and Coverall offers qualified Veterans a 10% discount*.
It was reported in March of 2014 that the employment rate for veterans has dropped and the gap between unemployed veterans and non-veterans has been getting smaller. Labor Secretary, Thomas E. Perez, stated, “Veterans have the skills that employers are looking for. They make our nation’s workforce more productive, our companies more profitable and our economy more competitive.”
*Qualified Veterans receive a 10% discount on the initial franchise fee on the purchase of a Coverall Franchised Business. See Coverall’s Franchise Disclosure Document for details.