Veterans: How VetFran Can Help You Get Started With Owning Your Own Franchise

VetFran was founded in 1991 as a strategic initiative of the International Franchise Association (IFA). The IFA recognized that veterans are uniquely prepared to operate a business because of their rigorous military training and experiences. Short for Veterans Transition Franchise Initiative, VetFran helps veterans who have served the U.S. military transition to civilian life. To date, one in seven franchise businesses are owned by a veteran. VetFran is essentially the body of 600+ IFA member companies that offer financial incentives, education, and support to veterans who want to become business owners.

How VetFran Can Help Veterans Start Their Entrepreneurial Careers

VetFran membership benefits include: a percentage discount off the purchase of the franchise; preferred financing with lenders; training, education, and support; discounts on startup materials and supplies; vendor discount programs specifically designed for veterans.

Do some research: Go through the Veteran Toolkit on the VetFran website for a compilation of helpful resources. You can view a directory of participating franchise companies by clicking here. You can also learn more about the companies you are interested in franchising by filling out the company’s profile in the directory.

Joining VetFran is free, but the company you are looking into must be a VetFran member. VetFran members are committed to offering financial incentives to honorably discharged veterans who meet their requirements. Each company will have their own criteria, so make sure to check the directory and the company’s profile, and fill out their forms.

Loans: Acquiring a small business loan is a separate process with a separate timeline, so you’ll want to consult with an experienced business lawyer.

You can get answers to your questions at the VetFran’s FAQ page by clicking here.

The VetFran STAR Program

VetFran has a three-tier recognition system for franchisors who provide incentives for potential franchisee veterans. Inspired by the military’s star system for generals and admirals, veterans can distinguish franchisor companies that are 1-star, 3-star, and 5-star VetFran members. You can find out more by clicking here.

Contact Attorney Jim Wilson

As a veteran now working as a lawyer, Jim Wilson has unique legal insights into veterans trying to start their entrepreneurship career path. He has helped many veterans successfully start their own franchise and manage their business. The Wilson Law Group also offers reduced fees for veterans who retain the firm’s services, so please call us today at 804-864-5268 or contact us here.

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Wilson Law Group

Jim Wilson is the founder and principal attorney of the Wilson Law Group. For the past 25 years he has been combining legal dexterity with an entrepreneurial mindset to help aspiring and established business owners start, finance, buy, sell, and run their companies.

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