To all franchisors who don't provide specific ownership opportunities to veterans: you're missing out.
Without veterans, your revenue growth is less impressive than it could be. Your business network is less robust. And you're losing out on a chance to target an important customer base: 18.2 million veterans across the U.S.
Not convinced? Here are five key reasons veteran franchise owners help propel the growth and success of franchises.
Veteran Franchisees Expand Your Business Network
Service members spend their entire military career in a communicative, tight-knit community. When they leave the service, veterans take those relationships with them. They stay connected to comrades they served with, checking in on how they're transitioning back to civilian life and helping each other out wherever they can.
Veterans trust veterans, so if one of their own takes advantage of a franchise opportunity, not only will that encourage other veterans to support their brother or sister in the endeavor, but it may also encourage them to look into franchising as well.
Don't believe it? U.S. Marine Corps veteran Ray Gagnon, owner of JDog Junk Removal & Hauling Capital Region, recognized the great business opportunity he had and shared it with his network. and shared it with his network. He encouraged others to find the success he did. Numerous veterans followed in Ray's footsteps and either bought into a JDog franchise or joined his crew. Many of them had served alongside Ray and trusted him implicitly. This is just one example of many for JDog, and it highlights how influential the veteran network can be in achieving franchise growth.
Veteran-Owned Franchises Draw More Customers
Veterans spend 16 percent more overall than the average U.S. household. And they typically want to buy products and services from businesses owned by veterans and military family members. Right off the bat, veteran franchisees have a higher likelihood of attracting fellow service members and their families as customers than civilian-owned franchises do.
Veteran-owned franchises also tend to tap into a wider network of customers. While civilian friends and family members will spread the word about a friend running a business, news of a veteran business owner will run beyond that inner circle and quickly spread through the local veteran community. With local chambers interested in veteran businesses and supporting veteran employment, local government will usually...