Former or Retired Military?  Is Franchising Right for You?

As a retired USAF officer who has been in franchising for the past 20 years, I've worked with many former and retired military people who have been interested in owning their own businesses via franchising. Franchising can be the right pathway for you, but you have to keep some important facts in mind before delving in.

First, many franchise companies very much want former military as franchise owners. Why? Simple: military people have demonstrated the willingness and ability to follow systems and procedures. More, military people understand what it means to be part of a team...and franchise companies are TEAMS.

Teams of franchisees "quarterbacked" by the franchisor in which every member of the team does his or her job to make the overall team -- the franchise -- successful.
That said, franchise companies can't give their franchises away, so you'll need some resources to invest before you can become a franchise owner.

Typically, as a general rule of thumb, you'll need about $50,000 in available liquid capital, and a net worth (assets minus liabilities) of about $250,000 to leverage an investment in any top-tier franchise opportunity.

Be very, very cautious about "business opportunities" that disguise themselves as franchises. "Biz Ops" are not regulated by the Federal Trade Commission, as are all franchise opportunities, and Biz Ops can therefore "promise you the moon" with virtual impunity. Biz Ops typically are selling vending machines, ATM machines, or Multi-Level Marketing opportunities and promise the same support and training as franchise companies...only they generally do not deliver on their promises. Their real objective is to sell you the machines or MLM memberships and then the rest is up to you.

Franchises, on the other hand, as mentioned before, are regulated by the Federal Trade Commission and each franchise must supply you with the FTC-mandated Franchise Disclosure Document (FDD). The FDD discloses everything you need to know about the franchise, including all costs, the history of the franchise company (including the history of law suits), what you and the franchise company are required to do and even the track record of success (or failure) of their franchise owners.

So, with a franchise, you'll know everything you need to know about the franchise before you invest -- but, which types of franchises are right for you, your goals, your investment resources, your market, your skills and your lifestyle preferences? With so many businesses out there, attending our expos gives you a chance to explore the opportunities that are out there before you make a commitment.