This is a sponsored conversation on behalf of Buster’s Real Ice Cream via SoFluential Media. All thoughts and opinions are my own.
Each year more and more military spouses are taking the leap and starting their own businesses. Many of them launch with a virtual presence, an Etsy store or a Facebook page, and then expand into a storefront. We love highlighting these military spouses and their success stories.
But for every military spouse reaping the joys of self-employment, there are two spouses who unfortunately closed their businesses before expanding to a storefront. Small business owners face many challenges in the first five years of owning a business. There are twice as many failures as there are successes.
What if you could be a business owner with a self-employment safety net?
This is what you get when you buy a franchise.
Buying a franchise is very attractive and wise decision for first-time business owners.
Instead of having to figure out everything on your own, a franchise provides the training and guidance on the best practices for that business. They know what works and more importantly, they know what doesn’t work.
As a franchisee you are in charge of the day to day operations of the business. You are the boss and you are your own boss.
If you’re a veteran, you learn the leadership and management skills to run a franchise during your military service.
If you’re a military spouse, your organizational skills and “get it done” spirit are assets as a franchise owner.
“The experience I gained in the United States Army has proven to be invaluable in running my Bruster’s Real Ice Cream franchise. Skills in leadership, planning, execution, training, crisis management, and motivating have been true assets in this endeavor. I also do my best to share the qualities and traits I learned during my military service, such as discipline, good work ethic, integrity, honesty, and cooperation. Completing the mission is still priority number one and the military was integral in providing me the tools to reach my goals.”
– Bill Palaich, Clermont, FL
3 Benefits Of Being A Franchise Owner
You Have Brand Recognition
Franchises are a ready-made business model. When you buy a franchise, you are buying a business package with all the pieces (logo, product, HR, legal) and then it’s up to you to implement these systems in your location.
With a franchise you instantly have brand recognition. It would take years to develop this same level of brand recognition as an entrepreneur.
This brand recognition, combined with operational and management tools from the franchise, make it less likely that you will fail as a business owner. See, a franchise is a type of safety net for business owners.
This convenience can be costly, but some franchises offer a military discount to veterans and military spouses.
For example, Buster’s Real Ice Cream is currently offering a 50% military discount for franchise ownership. A regular franchise is $30,000. For veterans the franchise ownership fee is $15,000.
You Get To Be Your Own Boss (But You Still Have A Support Squad To Lean On)
Entrepreneurship is a lonely gig. It’s up to you to face your business’s problems and identify the solutions.
You are the accountant.
You are the marketing director.
You are the janitor.
Every decision is you. Every misstep is you.
And that level of responsibility can be daunting for individuals with limited experience in self-employment.
Buster’s Real Ice Cream, like many franchises, offers its franchisees the tools and guidance to help them be successful. Their discovery process is broken down into four stages. It takes the franchise owner from initial inquiry to his or her grand opening. The entire discovery process can last as long as six months or be completed as quickly as four months.
After the grand opening, you aren’t thrown to the wolves.
Buster’s is your coach, your advisor and your cheerleader.
The parent company wants you to succeed. Their logo is literally on your front door. You represent them.
You Can Secure Financial Investment Easier As A Franchisee
Whenever I attend a military spouse entrepreneurship conference, the funding question always comes up.
Military spouses often ask if there are any special programs to finance military spouse-owned business ventures. No, sorry, there isn’t a pot of gold at the end of the rainbow.
You can bootstrap your business and many veterans and military spouses choose to go that route.
You can try to secure an angel investor (or two).
You can beg your family members and friends for money.
Most likely, you will take your business plan and apply for a loan with a financial institution. You will put your salesman skills to the test by convincing a loan agent that your business is a good investment. You need him to believe in you and your great idea.
Did you know it is far easier for franchisees to get financing for their businesses than entrepreneurs?
By investing in a franchise, you are joining a thriving business and banks know that. Yes, you will still need to have a decent credit score, but because you have the backing a parent company, a bank is more likely to approve your business loan.
Bruster’s strives to offer convenient, cost-effective investment options for its franchisees.
Securing financing in a reasonable time may be the difference between owning your own business in 2019 and staying in your current job working for someone else for the next 10 years.