Veteran Business Ideas
Veteran Guide To Starting and Owning A Business
In addition to protecting our freedom at home and abroad, U.S. veterans are returning home and strengthening our economy. In fact, 10% of all small businesses in the United States are launched and run by veterans. This translates to over 6 million created jobs and over $1 trillion in annual domestic revenue. Additionally, veteran-owned businesses have a higher success rate than other startups, which is a reflection of training, discipline, and diverse skill sets. With that, we have put together a number of business resources for veterans to help them with their continued success back home.
Nuts And Bolts
Before deciding on what type of business to start, it helps to have business resources for veterans at your disposal. There are organizations out there with everything from laying the foundation for veteran entrepreneurs to launch their businesses, to business plan templates, to gateways for veteran entrepreneurs to connect with each other for advice and trade secrets. There are even networks for managerial and business owner training for veterans transitioning into the private and commercial sectors.
Veteran Business References:
Business Services For Veterans
Jumping into entrepreneurship for veterans may require some additional training. Learning small business accounting, business-to-customer logistics, managerial skills, the interviewing process, and managing cash flow. These skills are necessary to launching, maintaining, and growing your business operation, regardless of size or industry.
One of the most difficult places to start sometimes, is with a blank canvas. Veterans have a wide array of skills which can be poured back into the commercial and private sectors, and sometimes there can be too many options available, all with equally successful results.
Franchises For Veterans
The franchise model is perhaps the most “turn key” business available to veterans today. Franchisors have businesses down to a streamlined method to deliver products and services to customers while maximizing profitability. The major difference between starting a business from scratch and buying into a franchise is that franchises offer veterans built-in training, branding, and support. Plus, franchises offer lots of room for growth and expansion.
Veteran owned businesses comprise almost ten percent of all companies in the United States. These veteran owned businesses have created roughly 6 million jobs, and generate over a trillion dollars in revenue, annually. Many veteran-owned businesses are franchises, because of the streamlined business model, great benefits, and fantastic growth potential. However, there are business opportunities out there that are better than franchises, with no recurring fees or royalties. Veterans are encouraged to explore both franchises, as well as these other opportunities to decide which ones make a better fit for their dreams of business ownership.
Many veterans are using their knowledge and experiences to give back to their neighborhoods and communities. The philosophy behind this is that veteran businesses become successful by raising others up. We see this a lot in self-defense courses, automotive and IT training schools, first aid, and other services.