With such high rates of veteran franchise ownership, it’s clear there are real factors that make veterans particularly suited to franchising. Here’s a list of what really sticks out among veteran franchise owners and the skills and qualities they bring.

1. Transferable Skills: Depending on which branch of the military you served in, you may have picked up clear skills in terms of technology usage or how to operate certain machinery. However, it is the underlying transferable skills that veteran franchise owners use to succeed. These include problem-solving abilities, the ability to perform under pressure, and the ability to assess and effectively communicate what needs to happen in a situation.

   These skills may not be obvious as they come as second nature to veterans, but in the world of franchising, they are essential features of what a successful business looks like.

2. Leadership: No matter the rank, the military is all about leadership, and this adapts perfectly for business, whether you’ve got a team of three or 300. Understanding what great leadership looks like and how to be a leader is critical for getting employees to believe in your work and fully commit themselves to it. There are thousands of business leadership books out there, but a veteran’s experience of leadership in high-stress situations is something that’s difficult to put down on paper.

   Teams follow by example and displaying integrity in business interactions, staying organized, and knowing when to encourage or admonish sets the tone for your team, giving them the belief that they are working under a leader who’s bringing them in the right direction.

3. Following Structured Systems: Franchise systems involve taking the template for a proven business model and following what’s worked elsewhere to be successful yourself. This is perfect for veteran franchise owners who understand the importance of following a system and trusting in the knowledge that your franchisor has built up through experience over the years. The guidelines and rules created by the franchisor provide a very comfortable environment for veteran franchise owners, as they know that if they bring their skills to the table and do what’s expected, there’s a good chance they’ll replicate the success of other franchises.
4. Financial Planning: Detailed planning of how and what’s needed to achieve an objective is a normal experience for veterans and means that veteran franchise owners come very prepared. Starting a franchise can require a significant up-front investment in things like the initial franchise fee, equipment, or premises. Many service members have reasonable savings, TSPs, or IRAs by the time they retire and are in a great position to make that investment and get through the tough first year of a new business. Not only that, but successful companies also need long-term strategic planning, which is another skill veterans pick up during their time of service.
5. Commitment: Starting a new business can be a daunting process, and it can be tempting for many to pack it in and go back to being an employee somewhere when things get tough. However, for veteran franchise owners, who have had to overcome constant challenges right since basic training, the commitment and dedication to making their business a success is what pulls them through where others might falter.
6. Adaptability: Military service and training require preparing yourself for a whole range of possible situations. Depending on different circumstances, you will need to do certain things differently; you must maintain mental and physical fitness and be highly flexible to changing business situations. This adaptability is a trait that’s essential for business, where every new day can bring an entirely different problem. They mightn’t necessarily be life or death, but they will be the deciding factors in the failure or success of your business.