GOVERNMENT
Veterans Increase Franchised Small Business Ownership
M
ore than 2,000 veterans have tak- en a path to business ownership
through the International Franchise Association’s Veterans Transition Fran- chise Initiative, known as VetFran. Ac- cording to IFA’s recently completed VetFran survey, 2,089 veterans have be- come small-business franchisees since 2002 by taking advantage of financial incentives. “This Veterans Day, IFA is proud to
join with all Americans by pausing to honor its military veterans”, said IFA Chairman Ken Walker, chairman and CEO of Driven Brands. “In this time of economic uncertainty, IFA encourages veterans seeking the American dream of starting their own small business to consider owning a franchise business and taking advantage of the financial incentives offered by participating member companies in the VetFran pro- gram.” IFA’s award-winning VetFran pro-
gram not only links veterans with par- ticipating companies through its Web site
www.franchise.org, but also offers comprehensive information designed
to aid prospective small-business fran- chisees in investigating a franchise be- fore purchasing. Typically, discounts off the initial franchise fee can lower up-front costs by thousands of dollars. VetFran was created by the late
Don Dwyer Sr., founder of The Dw- yer Group, to honor those who have honorably served our country. Dw- yer understood that the skills learned through military service translated well into owning and running a fran- chise business. VetFran is a voluntary effort of IFA member-companies that is designed to encourage franchise own- ership by offering financial incentives to honorably discharged veterans. VetFran was re-established follow-
ing the Sept. 11, 2001 terrorist attacks. Since then, nearly 400 IFA-member franchise systems have volunteered to offer financial incentives to help honorably-discharged veterans be- come franchise small-business own- ers. The participating companies and the discounts they offer can be viewed at
www.franchise.org under “Franchises for Veterans.”
VetFran receives no government
funding but is officially endorsed by the U.S. Dept. of Veterans Affairs’ Cen- ter for Veterans Enterprise, which helps promote small-business ownership for veterans and named IFA a “Champion of Veterans Enterprise” in 2003. The award-winning program was also re- cently tapped by the American Society of Association Executives to receive its Award of Excellence for creating an “outstanding program which has re- sulted in a significant benefit to Ameri- can society.” Earlier this year, IFA formed a part-
nership with the U.S. Army Reserve to help broaden employment opportuni- ties for reservists by including fran- chise ownership as a career option and funneling veteran franchise prospects toward VetFran. Congress is also recognizing the
benefits of franchise ownership for Vet- erans. The IFA-backed Help Veterans Own Franchises Act (H.R. 2672) would increase the level of business owner- ship by America’s military veterans. The bill was introduced last year by Reps. Leonard Boswell (D-Iowa) and Aaron Schock (R-Ill) and currently has 45 cosponsors. The legislation would provide a tax credit for franchise busi- nesses that offer qualified veterans a discounted initial franchise fee. It also provides a tax credit to the veterans who choose to purchase a franchise and open a business in their local com- munity. Sen. Bob Casey (D-PA) intro- duced a companion bill (S. 3818) in the Senate earlier this year. More veteran-owned franchises are
soon to open. During the most recent survey of participating companies, IFA learned that more than 200 franchise agreements were in various stages of negotiation to acquire a franchise us- ing the VetFran discounts. Source: International Franchise Association
70 HISPANIC NETWORK MAGAZINE Celebrating 19 Years of Diversity
www.hnmagazine.com
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84