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Franchises break down into about 15 different industries. But three rise above the rest in offering Veterans long term growth potential. A whopping 77% of Veterans who completed the Vetrepreneur Franchise Coaching program and became a Vetrepreneur® chose one of the top three.
Here’s how the top three breaks down:
34% opened a home services franchise,
26% provided business services, and
17% opened a senior care franchise.
Only 11% opened a restaurant or gym, which is surprising because when most Veterans think about franchises, they think about taking calories in and burning calories off. But it turns out that restaurants and gyms experience unique challenges and don’t have the strong growth prospects as the top three.
Vetrepreneur® recommends Veterans start franchises in industries with cultural and demographic fundamentals that project strong, long-term growth, or “economic tailwinds.”
Why these top three industries?
The top three tend to be low cost, recession-resistant, lifestyle-friendly and with subscription models that offer predictable, recurring revenues.
Home services (34%)
A generation ago, family weekends were spent doing chores around the house, cleaning, landscaping and completing home improvement projects. But kids today spend weekends playing organized sports and parents spend time coaching them or enjoying the downtime. Americans have the resources to outsource things they don’t want to do or don’t have the time to do; and they’re not likely to go back to the way it used to be.
Home services franchises clean your house, pool and gutters; they maintain your lawn, your plumbing and your HVAC systems; and they install new cabinets, garages and flooring.
Business services (26%)
Business Services leverage the outsourcing trend seen amongst consumers by outsourcing things that are not their core competency. Business services franchises include cost reduction, real estate, building maintenance, employee drug testing and more. Industry experience is not required.
Senior care (17%)
Baby Boomers are the biggest generation in American history and the wealthiest generation in world history. Boomers range in age from about 60 to 80, they’re going to live a long time and they want to stay in their homes. Put all of that together and you have a huge market who will need in-home, non-medical care and with plenty of money to pay for it. Most senior care franchises that Vetrepreneurs® open are non-medical, meaning in-home companion care that does not require medical professionals or licensing.
Free Vetrepreneur® franchise coaching services
Getting into a franchising is a big step and there’s a lot to learn. Making an informed decision only happens if the matching and due diligence is guided by an experienced, trusted source along the way. You should never go it alone.
Vetrepreneur® Franchise Coaches support and educate Veterans through a free, 10-step, 10-week process that enables them to make an informed decision on whether franchising is right for them and finding the best franchise match for them, too.
Save your seat now for the free Vetrepreneur® Franchise Coaching service. There is limited capacity available.
