More returning veterans becoming franchise owners

Many veterans returning from service in the Mideast are drifting back to former employment in their home communities, but increasing numbers wanting to try something different are turning to the world of franchised small businesses.More than 350 veterans own franchised small businesses in the United States today because of the Veterans Transition Franchise Initiative, an International Franchise Association program known as VetFran, which offers discounted franchise fees to veterans seeking to purchase a franchise.Deputy Secretary Gordon H. Mansfield, of the U.S. Department of Veteran Affairs, recognized this successful program as well as the IFA Educational Foundation`s Veterans Scholarship Program, which helps cover tuition expenses for veterans enrolled in business or management courses at colleges and universities. VetFran was given the Support Sector Champion Award during a special ceremony June 14 in the nation`s capital.The award was part of the 4th Annual Champions of Veterans Enterprise program, which recognizes significant contributions by organizations that are dedicated to expanding business opportunities for veterans and service-connected disabled veterans."The VetFran program is our way of saying thank you to veterans for their service," said Matthew Shay, president of the IFA. "They deserve our help in pursuing the American dream of business ownership because without them to protect our nation, such opportunities would not exist."To date, 360 franchises have been sold through the program and an additional 126 are in various stages of negotiation. More than 160 IFA member companies participate in the program. Veterans interested in the program can learn more about acquiring a franchise at the IFA Web site, which has links to participating companies including Dunkin` Donuts, Maaco, Meineke, Carlson Wagonlit Travel, Cardsmart, Lawn Doctor, UPS Store, Midas, Ace Hardware and many more.IFA represents franchisees, franchisors and suppliers who conduct business across a broad spectrum that encompasses 75 different industries with combined operations in more than 100 countries.
Source: The Providence JournalJose10/5/2008 6:55 PM