Take carryout pizza franchise Little Caesars, which provides for all qualified, honorably discharged veterans a $5,000 reduction of the franchising fee, financing benefits, and a $5,000 credit on initial equipment orders. Service-disabled veterans are eligible for a waiver of the $20,000 franchising fee, additional financing options, a $10,000 credit on the initial equipment order, grand opening marketing support, and other benefits that could total up to $68,000. The coed fitness club franchise Anytime Fitness offers a number of discounts, including 20% off of standard franchise fees. [For more, see “Great Franchise Opportunities for African Americans†and the “25 Best Bets for African Americans†list, November 2012.] The convenience retailer 7-Eleven launched a military veterans franchise program that offers discounted franchise fees to retired or separated veterans–vets who served on active duty during the three-year period beginning on the date of their discharge or release from active duty–who have been honorably discharged. Qualified veterans who become first-time 7-Eleven franchisees receive a 10% discount on the initial franchise fee for their first store, which can range from $1,000 to $35,000.
Steps on the Way to Business
Prior to the turn of the century, veterans service organizations, such as the American Legion, Vietnam Vets of America, and Disabled American Veterans, traditionally provided support for veterans seeking healthcare, counseling, housing, and transition assistance. “Nobody was doing much for veterans interested in doing business,†says Joe Wynn, president of the National Association for Black Veteran Inc’s. Washington, D.C., chapter.
In 1999, Public Law 106-50 went into effect, creating the single-venture entrepreneurship program. It mandated all federal agencies set goals to do at least 3% of all purchasing from service disabled veteran-owned businesses. An offshoot of NABVETS, the Washington, D.C.-based Veterans Enterprise Training and Services Group–of which Wynn is also president–was created in 2004 to help veterans starting or expanding small businesses take advantage of that program.
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