Are You Ready to Own a Business Franchise?

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Movers load a truck with household goods.
Movers load a truck with household goods. (Kambra Blackmon/NAVSUP FLC Bahrain)

You have served your country in the military for years, perhaps even decades, and you are ready to explore a new career.

You have always dreamed of owning your own business, but the thought of building a business from scratch is just too overwhelming. What about owning a business where you are given all the tools, advice and established brand recognition?

That is what owning a franchise provides, essentially an "own your own business kit."

Veterans are ideal candidates for owning a franchise; they have deep experience following procedures, working in a team and being disciplined.

You may be asking: How do I know what type of franchise is right for me? How do I learn about franchising? How do I fund a franchise? These questions and more can easily be answered.

First, like in the military, you need to be prepared. Your franchise will not be successful if you don't arm yourself. The right approach and knowledge are key. Reduce risk and prep for success with these simple steps:

1. Find Your Match

Start by looking at what industry best fits you:

  • What was your role in the military?
  • Did it include leadership?
  • Was it physical?
  • Did you prepare food?

Match your skill set to an industry. For instance, the moving industry is physical and involves an active, changing environment. Daily responsibilities include working with clients, dealing with truck issues, managing dispatch and enjoying an exciting and ever-changing day.

All of these daily procedures and physical aspects of moving make it a very military friendly environment. Seek out a franchise business that complements your role in the military.

2. Educate -- Join the IFA

Join and use the resources of the International Franchise Association (IFA) to educate yourself on becoming a franchisee. Participate. Attend their meetings and get involved in their networking community. They also have great databases to search and find franchise opportunities. Everyone at the association wants to help, and they want you to succeed.

3. Fund -- Apply for a Loan

There are many resources available to help you fund your franchise, particularly for veterans. The IFA has an unique program for veterans called VetFran. VetFran offers financial incentives to veterans seeking to become small business franchise owners. Another great resource is the Small Business Administration.

Owning a franchise is an exciting adventure. If you simply take the time to find the right industry match for you, educate yourself and leverage the resources available to veterans for small business loans, then the stage is set for a great and successful adventure.

As co-founder and CEO of NorthStar Moving Company, Ram Katalan has built a company that is built upon a sincere dedication to meeting the highest standards for service and integrity in his relationships with clients, team members and the community at large. For information about NorthStar Moving Company franchise opportunities, visit www.northstarfranchising.com.

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