“When you open a new business, it’s going to be longer hours and harder work than just having a job. Our folks who have served in the military are not afraid of hard work. That kind of perseverance and commitment is what it takes to own a business.”
Portsmouth, NH (PRWEB) October 31, 2012
A recent push to get veterans into franchising seems to be paying off, according to a new report released today by Franchise Business Review.
The findings, published in Veterans and Franchising 2012, show that franchisees with military experience enjoy operating their businesses and being a part of their franchise organizations even more than non-vets, and they rank their franchise systems’ team culture higher than non-military operators—perhaps reflecting the military’s emphasis on teamwork and solidarity.
The data for this report was compiled as part of Franchise Business Review’s Veterans & Franchising 2012 study, which recognizes the top vet-friendly brands based on overall veteran franchisee satisfaction. Franchise Business Review surveyed nearly 3,500 military-trained franchisees, representing 265 brands, and interviewed senior executives and franchisees at several brands for their first-hand perspective.
According to the Franchise Business Review report, veterans rated their overall satisfaction the same as in 2011, which is significant considering that overall satisfaction among all franchisees (veteran or not) is down 5% year-over-year (based on surveys of over 30,000 franchisees across all industry sectors). The top five areas where satisfaction of veterans outranked non-veterans are marketing and promotional programs, effective use of technology, training and support programs, system-wide communications, and overall enjoyment running the business. Eighty-one percent said they enjoy being a part of their franchise organizations, and 72 percent said “they would do it again today” in regard to investing in their franchise.
Franchise Business Review’s report also identifies the Top 100 Franchises for Veterans—companies with above average satisfaction among veteran franchisees. Some of those brands include FASTSIGNS International, ActionCOACH, Sandler Training, Molly Maid, Snap-on Tools, Signal 88 Security, Sport Clips, TeamLogic IT, and Auto Appraisal Network.
There has been a big push recently to get veterans more involved in franchising because military training—and a veteran’s ability to follow a set process—often transfers well into franchise ownership. Franchisors told Franchise Business Review researchers that franchisees who have had successful military careers often outperform non-military franchisees.
“When you open a new business, it’s going to be longer hours and harder work—than just having a job. Our folks who have served in the military are not afraid of hard work. That kind of perseverance and commitment is what it takes to own a business,” said FASTSIGNS CEO Catherine Monson, who was interviewed for the report.
However, military success doesn’t guarantee business success, Franchise Business Review warns. Vets (like non-vets) must go through an adjustment period as they learn to run a business—and some of the Type A traits that contribute to military success need to be curbed in real life. Army vet and Signal 88 franchisee Bill McCoy, is quoted as saying: “As an infantry soldier in the Army in a combat zone, I am extremely well-adept at handling any situation that the enemy can provide. That doesn’t always parlay to sales and business strategy. I am sure that I am the source of many a gray hair for Reed Nyffeler [Signal 88’s CEO].”
Military vets are drawn to an array of concepts and investment levels, according to Franchise Business Review’s research. Some are drawn to "hands-on" concepts, similar to what they did in the military, but others are drawn to more "out of the box" businesses, like sales, hair care, and food.
About Franchise Business Review
Franchise Business Review is a national franchise market research firm that performs independent surveys of franchisee satisfaction and franchise buyer experiences. The firm’s services include commissioned franchise research projects, CEO performance groups, and industry-wide studies of franchisee satisfaction. Franchise Business Review is headquartered in Portsmouth, NH, and can be reached at (603) 433-2270.
Visit http://www.franchisebusinessreview.com for more information.