Only about 7% of U.S. citizens have served in the armed forces. Of those, 82% are enlisted and have an average joining age of 21. I was only 17 years old when I signed up to support and defend the U.S. Constitution. Looking back, I didn’t understand how big of a deal that was. By Jon Skroder
Only about 7% of U.S. citizens have served in the armed forces. Of those, 82% are enlisted and have an average joining age of 21. I was only 17 years old when I signed up to support and defend the U.S. Constitution. Looking back, I didn’t understand how big of a deal that was. It simply was a vehicle to move on in life from high school. My grandfather, on the other hand, was just 15 when he joined the Navy in 1942. His agenda was much different from mine, as he was focused on supporting and defending our country! Even that being the case, I understand now that anyone who has ever served in one of the armed services, regardless of reason, is dedicated to the more significant cause and would give everything they have in support of our freedom.
What does this have to do with ownership of a franchise? The values embodied in military personnel will again be displayed while owning and operating a business. If someone has the personal fortitude to serve and sacrifice with dedication and honor, they will use those same values to succeed as a small-business owner. Personally, thinking about all the men and women I served with and the amazing things they did every day, I can honestly say that the challenges of starting a business would be considered somewhat elementary. I trained sailors as young as 18 to be one-third of a tactical multi-mission crew responsible for $43 million helicopters. If military members can succeed in jobs of that magnitude, running a successful franchise at such a young age is well within their grasp.
The bottom line: Using all possible resources to find veterans and assist them in opening their own business is certainly worth the effort. Veterans are a perfect fit for franchise ownership and will undoubtedly increase your percentage of successful new placements.
For active-duty military, veterans, or spouses, the M5 Loan® is a perfect fit for service-based franchise options. Providing funds for initial purchases and a substantial amount for working capital assures they have the funds to handle the turbulence that comes with any new venture. Undercapitalization is the Number One reason businesses fail. Having access to capital can protect against that.
Jon Skroder
Contact: mymilitaryloans.com, 833-444-VETS, Jon Skroder, jon@mymilitaryloans.com
Senior Chief Petty Officer Jon P. Skroder (Retired) is a 26-year Navy veteran (1993-2019) and current COO of My Military Financial Services. Assignments include NAWS China Lake, CA, Pacific Missile Range Facility, HI, HSL-42 NS Mayport, FL, Weapons and Tactics Unit NS Mayport, FL, HSL-48 Mayport, FL, HSM Weapons School Atlantic, Mayport, FL, HSL-37 KBay, HI, and HSM-40 Mayport, FL. MED/MEF deployments aboard the USS San Jacinto (CG-56) and the USS Monterey (CG-61) and 7th Fleet support deployment aboard the USS Michael Murphy (DDG-112).