Friday, January 14, 2011
Given the unimaginable sacrifices that US servicemen and women make on a daily basis, it is extremely gratifying to see their efforts appreciated and acknowledged not only by the public in general, but specifically by the franchising industry. In our search we found that the level of support and demand for prospective veteran franchisees continues to grow, both in numbers and benefits offered.
In a noticeable change from last year’s survey, franchisors are offering an enticing mix of benefits to veterans. Such benefits include sizeable and meaningful reductions in the franchise fee (Fast-Fix and FASTSIGNS offer a 50%/40% discount, respectively) as well as considerable additional incentives; Granite Transformations not only offers a 50% discount, but they will also finance the remaining portion over 12 months; Popeyes Louisiana Chicken not only waives the entire $30,000 franchise fee, but also offers a 3% royalty reduction for the first year. Kitchen Tune-Up waives the entire initial investment of $40,000; Maid Brigade offers a 45% discount on the franchise fee, territory fee and equipment package for a total savings of $27,900.
Further incentives include a waiving or reducing the royalties over a period of years, financing the reduced franchise fee over several years, and granting allowances and credits toward the purchase of equipment and initial inventory. One of the best indicators of a company’s real commitment is the number of veteran franchisees currently in its system and among the ranks of senior management. With veterans comprising 18% of its franchisees and 33% of its senior management, Anytime Fitness has clearly demonstrated its commitment to veterans.
Undoubtedly, the vast talents brought to the table by veterans significantly influence this courting process. Focus, maturity, working under pressure, high levels of responsibility, and the ability to follow a system are qualities found in today's military veterans.
For their part, however, veterans should not focus on the short-term financial inducements offered by franchisors. While they will certainly be a key determinant in the final decision, in-depth due diligence is absolutely crucial for success in the long-term. Be prepared to spend months evaluating every aspect of all franchise opportunities that provide a good fit for you. For a more detailed explanation of incentives offered, please visit Franchises4Vets.com. The site includes over 320 franchisors who are offering special programs focused solely on attracting veterans.
|Allegra Print & Imaging||AllegraNetwork.com|
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|Dwyer Group, The||DwyerGroup.com|
|Express Employment Professionals||ExpressPros.com|
|FAST-FIX JEWELRY AND WATCH REPAIRS||FastFixFranchise.com|
|Grout Doctor, The||GroutDoctor.com|
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