Posted on Jun 2, 2015
If you wanted to look for a business or franchise to own, what would be the first thing you would do?
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I ask because I want to engage with more vets who don't know where to start. I am creating an education and mentor site for franchise information with transitioning and x-military. I remember what I did when I got out of the military but I wanted to hear others who have been thinking about the same thing.
Posted >1 y ago
Responses: 17
First thing would be to know why you would want to do it. Next is do you have an interest in that industry-would and could you commit to it. Owning a business or managing a business is like being an Infantry Squad Leader, takes 110% commitment 24/7. The business takes and employees take precedent over everything and they are number one in your life, plus you have to bring in a balance with your family and faith. Then you need to research it; what is their marketing strategy and where would you fit in to that strategy, long term plans and goals, SWOT, business and market plan, SCORE, the franchisor's requirements. If that is your cup of tea, then take action, if not, find something else. If there are Veterans or Troops out there looking for ideas that might interest them, I have some and I made a lot of mistakes and failed and succeeded. I am not a recruiter for franchises or industry(s). But I am willing to offer up some business advice and assistance on writing business plan and how to do a thorough SWOT Analysis to any Veteran or Trooper thinking about going into business for themselves. I will tell you the way it is, even if you do not like it, I don't sugar coat it. And I do have connections in the Transportation Industry and Air Freight Industry. There are alot of scams out there, and if you think your Army recruiter lied to and sold you a line of BS, wait until you run across some of these business and franchise recruiters. I only have a Bachelors Degree in Business Administration, but I have over 25 years both military and civilian transportation and logistics experience.
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I reached out to a district manager who sat down with me and talked to me about acquiring a franchise. He had me sold until I realized I needed the capital in the tune of $250,000 to even consider acquiring said franchise. Still looking into it, a challenge yes. Doable, yes. Sometimes you just have to ask one question and the ball is rolling.
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