Discounted Franchise Options For Veterans

Vet Fran, short for Veterans Transition Franchise Initiative, was launched 10 years ago by the International Franchise Association to provide financial incentives to assist veterans in acquiring franchised businesses.

Don Dwyer, founder of The Dwyer Group, lobbied for Vet Fran and made it happen. The Gulf War was underway; 100 franchisors stepped up and offered discounts to all veterans of the U.S. Armed Services (who were honorably discharged). Domino's Pizza, for example, charges a franchise fee of $25,000 but the fee for veterans is $5000.

Currently, more than 300 franchise organizations have joined the effort and the programs receive full cooperation from the Department of Veteran's Affairs, the U.S. Small Business Association and the Veterans Corporation. Today, the Vet Fran Task Force is chaired by Don Dwyer's daughter, Dina Dwyer-Owens, CFE, president and CEO of The Dwyer Group.

The most popular franchises among veterans are:
~The UPS Store
~Matco Tools
~Meineke Car Care Centers
~PostNet Int’l Franchise Corp.
~Aire-Serve Heating & Air Cond.
~CruiseOne
~Sport Clips
~Maui Wowi Hawaiian Coffees & Smoothies
~Dunkin’ Donuts
~Mr. Electric
~Mr. Rooter

For more info on the program, visit www.franchise.org/Veteran-Franchise.aspx

3 Ways To Start Your First Small Business

There are 3 ways you can start your first business:
*one, as an independent entrepreneur starting from scratch
*two, purchase a "business opportunity" or "turnkey package"
*three, buy a franchise
Let's examine each option:

1. Launch an independently-owned business from scratch.
You have a business idea about which you are passionate and believe you can deliver your product or service to the marketplace better, cheaper or faster than the competition (if competition does exist for your new business idea.)

You'll be working alone as your own Small Biz Superman/woman. You start at home, part-time or on weekends without leaving your current job, benefits, etc. Once you build up clients or sources of revenue you are ready to expand your biz and possibly leave your 9 to 5 workplace.

Examples of an independently-owned small businesses include:
*making desserts, pastries & breads to sell to caterers & restaurants
*home insurance inventory service run from your laptop and camera
*landscaping service including firewood delivery/snow removal during the winter season
*open a retail store
*run an online auction business

2. You buy a "biz opp" or "turnkey package"
Business opportunity packages run the gamut from gift basket businesses to vending machines to car detailing services to snow cone or popcorn kettle machines. Startup costs run from $100 to more than $5000 to purchase these packages.

Companies sell you a "turnkey package" that usually includes a manual, marketing ideas and tools/inventory to start the business--the idea is that everything is included you just 'turn the key'--to get started. Make sure you investigate the company--see posting of November 21 on "How to Investigate A Biz Opp"--before you send any money to anyone. You are still working on your own but have a company that possibly provides you with basic tools such as accounting software, products, and perhaps a toll-free support line for help.

3. You purchase a franchise.
Franchising is a multi-trillion dollar business and it is estimated that about 66 cents of every dollar in the U.S. is spent at a franchise. Examples include: 7-Eleven, 1-800-GOT-JUNK, McDonald's, Midas, Meineke, and Supercuts.
Advantages: According to the International Franchise Association, a franchise is a way to "be in business for yourself, but not by yourself." You receive everything from help in choosing the location, to signage, uniforms, training, follow-up, products, software, advertising support.
Disadvantages: Can be costly, must pay royalties to company, terms may expire, must be able to follow franchise mode of operation and not deviate from patterns of doing business.
Check out franchise.org to learn about
franchising and get an idea of costs, training.

The Be-Your-Own-Boss Explosion

More than 800,000 hard working Americans have lost their jobs this year and that figure is estimated to hit more than 1 million as we approach year-end pink slips. Many of our newly unemployed will never be able to transfer their knowledge into a similar position for a comparable salary—the only solution might be to start a small business.

It’s a small world after all--a small business world, that is. It is small business that is fueling our economy today not the Fortune 500 giants. In fact, small businesses account for about 90% of all new jobs created. Small business owners are the innovators who bring us inventions, and faster,cheaper, smarter ways to get from A to B. In the past two decades we’ve witnessed an explosion in entrepreneurship.

Everyone dreams of being his or her own boss--and for many good reasons. Being one’s own boss will always be associated with freedom and to a great extent, pure joy and satisfaction. It is difficult for employees to find this satisfaction on their jobs working for others.

For a long time, American workers have not been able to rely on the comfort and security once associated in working for a mega-giant corporation. There was a time when employees could count on protected pensions, health care and job security.

At the close of each year, CEOs and top management still pocket multi-million dollar profits, while the workers who drive corporations, teeter on shaky ground. We’re all too familiar with the devastation caused by layoffs, plant closings and corporate downsizing in the last few years. Since 1979, 50 million Americans have watched their jobs vanish, and according to The New York Times, only 29 million have replaced them.

We’re now searching for fulfillment and livelihood in new places, in new ways. We’d rather work 14 hours a day for ourselves doing something we love than work for “the man”. Having a small business means freedom from the 9 to 5 shackles. We’d gladly work twice as hard in our own venture. Owning a small business gives us pride and identity.

In the 19th century, Americans worked and plied their trades. Villages usually featured one shoemaker, one clothing retailer, one grocer, and so on down the line. Late 19th and early 20th century entrepreneurs ventured into oil, steel and railways and made a bundle overnight. They struck gold.

Throughout the first half of the 20th century, Americans fulfilled dreams by taking over the family business. After World War II new ideas, technologies and politics came into place changing the business climate as well.

Sons and daughters were no longer content to work in the family business. College was the dream and working for a large corporation became the fantasy. Business students earned MBAs and turned their sheepskins into big buck fortunes. But with the greed of the 1980s came the stock market crash and insider trading scams.

Social awareness, invisible since the 1960s, turned many of us off to the notion of big business. Government let us down, too. Environmental devastation along with concern for human needs, such as health care and shelter, took center stage.

Global alarms on AIDS, famine and natural disasters brought us closer together. Americans started to reject the notion of the big business machine and once again moved toward small business.

We watched garage-based ventures like Apple and Microsoft become world-class empires. It was proof that entrepreneurship--the New American Dream--was alive and well. Advances in technology have made it easy for small businesses to be launched from home.

With the Internet, It’s never been easier to be an “Open Collar” worker than right now and it gets less difficult all the time as one-person operations run from a kitchen table rack up profits and respect.

Running a business is fun and exciting. It has been written and said time and again: If you choose something you love to do, you will love working on it, at it, with it, for it. The money will follow. I hope this blog will serve as your "partner" as you begin your Small Business Journey!