Every franchise company needs to have a clear understanding of the type of person with the best chance of success in their franchise system. They need what’s called an “ideal franchisee profile” describing the characteristics and personal traits of the individual most likely to succeed as their franchisee. Although a blank statement such as ‘veterans make great franchisees’ is not correct 100% of the time, it holds a lot of truth.
Here are 5 traits that make veterans great franchisees:
- They have discipline; and, you need discipline to succeed in any business venture.
- They are used to following procedures; and, franchising is all about systems and procedures. Successful franchisees, in general, follow the franchisor’s recipe.
- They are team oriented; and, a franchise organization is a team that thrives when all parties are good team players.
- They are familiar with working in a regimented environment; and, franchising leaves very little room for flexibility in the way franchisees operates their businesses.
- They are used to taking direction from others; and, the most successful franchisees are open to the guidance of the franchisor.
Here are some interesting statitics from the US Census Bureau News, 2007 release as reported in the premier issue of Operation Franchise, a new publication bringing information about franchise opportunities to military personnel.
- Veterans are twice as likely to own their own business than non-veterans.
- Nearly 3 million of the estimated 20.5 million businesses are veteran owned.
- Approximately 7 percent of veteran business owners have service-related disabilities.
There is no wonder there are more than 350 franchise companies that participate in the International Franchise Association (IFA) VetFran Veterans Transition Franchise Initiative program. Veterans, indeed, make great franchisees. What do you think? What other traits make Veterans great franchisees?
