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FranchiseBusinessReview
2,500 military veteran franchise owners across 385 leading franchise brands rated their franchise systems.
The 100 brands recognized on our Top Franchises for Veterans awards list have earned the trust and respect of veteran franchise owners. That's a great place to start your research.” - Eric Stites, CEO & Managing Director, Franchise Business ReviewPORTSMOUTH, NH, UNITED STATES, November 4, 2024 /EINPresswire / -- With countless franchises competing for the attention of military veterans, it can be challenging for entrepreneurial veterans to identify the best franchise opportunities available. Franchise Business Review has simplified this process by evaluating and announcing this year's Top Franchises for Veterans .
Franchise Business Review (FBR), a research firm that conducts annual, independent surveys of more than 35,000 franchise owners across all segments, provides the only industry ratings and reviews of franchisee satisfaction.
To determine the Top 100 Franchises for Veterans, FBR analyzed 18 months of survey data from over 2,500 veteran franchise owners representing more than 385 franchise brands.
The data shows veterans are drawn to several franchise models and investment levels. The most popular franchise segments for veterans are Home Services (14% vets), Services (11% vets), Automotive (10% vets), Retail (10%), Senior Care (10%), and Food (8%).
Based on responses from veteran franchise owners:
85% enjoy being part of their franchise organization.
84% enjoy operating their franchise business.
83% say their franchisee community is supportive.
81% rate the opportunity provided by their franchise above average.
75% would recommend their franchise to others.
39% own multiple franchise locations/units.
Why Veterans Make Strong Entrepreneurs
Veterans are trained to execute systems and follow strict procedures. This makes transitioning to an established franchise that operates on proven systems and procedures a natural evolution. Franchisors know that veterans make strong entrepreneurs because they recognize these characteristics .
Leadership: Veterans are trained to lead others and manage complex projects, working closely with teams to achieve common goals.
Problem-solving: Veterans excel at thinking on their feet. They can stay calm under pressure and make sound decisions even in challenging situations.
Communication: Veterans understand the critical role of clear communication and can effectively convey and receive information.
Focus: Veterans learn to maintain focus, ensuring that objectives are met efficiently and effectively.
Drive: Veterans possess a strong internal drive and determination, pushing them to achieve success.
Sense of duty: Veterans bring a profound sense of duty, integrity, and responsibility to everything they do.
Battlefield experience: Veterans often transfer their skills from the battlefield to the business world.
Research shows nearly 8% of all franchise owners are military veterans. One in three veterans (33%) who operate a single franchise unit plan to expand by purchasing additional locations. Veteran franchise owners are more likely to hire veterans as employees, and 65% of franchisors have indicated that their rate of hiring veterans has increased in recent years.
Leveraging Data and Insights to Make Better-Informed Investment Decisions
FBR garners franchisee satisfaction data by asking franchise owners to anonymously rate their satisfaction with key indicators such as training and support, executive leadership, systems and operations, core values, culture, financial opportunity, franchisee community, flexibility and lifestyle, and overall satisfaction.
Candidates for franchise ownership can easily compare franchise opportunities and download detailed franchisee satisfaction reports at / .
“Many franchises offer special incentives to veterans, but the best way to determine if an opportunity is right for you is to speak with veterans already involved in the franchise system. The 100 brands recognized on our Top Franchises for Veterans awards list have earned the trust and respect of veteran franchise owners,” said Eric Stites, CEO and Managing Director of Franchise Business Review.“That's a great place to start your research.”
View the Top Franchises for Veterans list here: /lists/top-franchises-veterans/
Research on the Top Franchises for 2024 is now underway. Franchisors who are interested in participating should visit:
About Franchise Business Review
Franchise Business Review is a leading market research firm serving the franchise sector. FBR measures the satisfaction and engagement of franchisees and publishes various guides and reports for entrepreneurs considering an investment in a franchise business. Since 2005, FBR has surveyed hundreds of thousands of franchise owners and over 1,100 leading franchise companies. FBR publishes free and unbiased franchisee satisfaction research reports throughout the year online at .
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.