FBR Issue 4 - 2019

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FBR SPECIAL REPORT Cruise Planners, a Florida-based travel franchise that offers veterans a 28% discount off of its franchise fee (which ranges from $495 to $10,995, depending on experience level), and free air credit to attend training, among other benefits. Approximately 15% of its 2,500 agents are veterans, many of whom have ample knowledge of popular vacation destinations, thanks to their experience traveling the world. At Cruise Planners, veterans also receive militaryspecific marketing materials designed to engage military clientele. Veteran-specific mentorship also comprises Cruise Planners’ ongoing business development and training. “We have a military advisory board consisting of about 20 Cruise Planners franchise owners, who have served in the military, to advise on ways to better serve our veteran franchise owners,” Hoing said. Veterans also have a distinct advantage in that they know how to follow a process, said Claire Barham, marketing communications manager for N2 Publishing, a custom publications publisher with more than 900 private, monthly publications in circulation across the United States and Canada. “Although every N2 franchisee benefits from our extensive training as well as our playbook for success, these assets are particularly appreciated by veterans, who so often come to us with an ingrained desire for structure, schedules and clear objectives,” she said. Aside from following the rules, veterans have what it takes to run a business without direct supervision, take charge, and be held accountable for their decisions. They also know how to take calculated risks when they need to. “It’s vital in business ownership to take calculated risks that can propel you further, but it’s an especially useful skill set for our franchisees because the role is so heavily focused on sales,” Barham said. BRINGING ON NEW RECRUITS Other franchisors agree that putting efforts into actively recruiting veterans not only improves the bottom line, but also brings unique perspectives and experience to the company that strengthens the brand. Pinch A Penny is a 40-year-old pool and spa care franchise with more than 238 units that is consistently rated among the best by its franchisees. In a recent Franchise Business Review survey, its franchisees rated it as “excellent” in the categories of core values and owner enjoyment, for example. Michael Arrowsmith, the franchise’s chief development officer, said that Pinch A Penny believes in doing more for its veteran members than just offering a 50% discount ($25,000 value) on its franchise fee once veterans join. For the past decade, the company has been an official sponsor of the Valspar Championship, where it hosts a suite for active and retired $81,222 ANNUAL INCOME The average annual income of veteran franchise owners 88% ENJOY THE BUSINESS 8 out of 10 veteran franchise owners respect and trust their franchisor and would recommend their franchise company to another franchisee candidate service members and their families. They also support Birdies for the Brave, a global military outreach initiative developed by the PGA Tour dedicated to honoring and expressing gratitude to members of the U.S. Armed Forces and their families. “Our veteran franchisees and employees are among the most esteemed members of our team,” Arrowsmith said. “The characteristics that allow them to excel in the military—like discipline, teamwork, leadership, and strategy— make them ideal franchisees. They are natural born leaders who are dedicated, communityoriented, and more organized—making them a perfect fit for a family-centric brand like ours.” At TWO MEN AND A TRUCK®, 9% of its franchisees are veterans. The moving company offers a 10% discount on its $50,000 franchise fee to help attract former servicemen or women. The moving company, which operates more than 360 locations worldwide and has more than 3,000 trucks on the road, prides itself on an excellent customer experience. Finding franchisees who can follow a process, work within a team, and demonstrate leadership helps the company achieve this goal. “We feel franchising is great for veterans because they can focus on making the customer experience nothing but a positive one, and use their leadership abilities to build a compassionate and caring team for the customer experience,” said Lindsay Dow, content marketing manager for TWO MEN AND A TRUCK®. One of its franchisees, Jeremy Brown, is a former Air Force pilot who won medals for his service in Operations Iraqi and Enduring Freedom. Unfortunately, his military career was cut short when he was medically disqualified from flying. Afterwards, he joined the Air Force Reserves and pursued his MBA. He began researching franchising opportunities and ultimately signed on to become a franchisee for TWO MEN AND A TRUCK®’s Dover, Delaware location. Bringing his business experience and extensive military leadership to the location, he has been able to post a 98% customer referral rate for the Dover team. “The Air Force was a great organization to be a part of and I think I could paint a correlation between nearly everything I did in the military and all the things that go along with being a franchisee,” said Brown. “In the Air Force, and more specifically as a pilot, processes and checklists rule the day. They allow you to approach every task with clearly defined steps and standards, which ensures both efficiency and consistency regardless of who is performing the task. These principles seem to translate very well into the TWO MEN AND A TRUCK® system.” PROVIDING SUPPORT AS WELL AS INCENTIVES Helping veterans understand how to run a business and how they can benefit from other programs that are available is an important part of supporting them once they are on the job, according to George Stephens, director of brand marketing and development for Parisi Speed School. About 10% of Parisi Speed School’s franchisees are veterans. The franchise provides youth sport training with a mission of delivering a positive training experience that improves 8 | For more information on the companies in this report, visit www.FranchiseBusinessReview.com
FBR SPECIAL REPORT speed of movement and strength in character regardless of ability or economic status. While former military personnel may connect well to the mission and may even have experience with physical fitness training, Parisi Speed School stands ready to give them the business tools they need to get ahead. It offers veteran discounts on optional support services such as free tactical marketing or tactical business support for a period of six months and points them to avenues of support outside of the Parisi Speed School network. “There are many programs for them to take advantage of—from financing to real estate—that they may not be up to date on. It’s important that we help guide and navigate them through the process and get them started on the right foot, even if it’s not directly related to our company,” Stephens said. HOW DO VETERANS FEEL ABOUT OWNING A FRANCHISE? This year, we surveyed over 25,000 franchise owners from 258 leading franchise businesses to gauge their satisfaction and happiness with their decision to invest in a franchise. Of these, more than 10% identified as veterans. Veterans report that they are pleased overall with their franchise companies. Eighty-four percent rate their franchise opportunity above average, and 8 out of 10 veteran franchise owners respect and trust their franchisor and would recommend their franchise company to another franchisee candidate. Veterans report very high enjoyment ratings as well: 88% indicate that they enjoy operating their business, and 87% say they enjoy being part of their franchise organization. Most veterans also feel that buying a franchise was a good business decision for them. Two-thirds indicate that the long-term growth opportunity for their business is either “strong” or “very strong.” The average annual income of veteran franchise owners is currently $81,222 overall, with franchisees in certain sectors earning over six figures. The most profitable sectors for veterans include business services, advertising & sales, health & wellness, and real estate. Based on this research, we have determined the Top Veteran Franchises of 2019. You can see the full list of award-winning brands on page 10. EXPLORING TOP VETERAN-FRIENDLY FRANCHISE BRANDS While owning a franchise poses a great opportunity for vets, it is important to remember that starting any business—whether it’s from scratch or under the umbrella of a franchise— does not come with a guarantee of success. While a franchise can help you ramp up faster and offer additional tools and support, like any other business you will need to work it so that it can work for you. Anthony R. Weiss, manager of strategic sourcing for Lenny’s Grill & Subs, said that veterans draw upon their self-discipline to solve problems and guide their teams in the right direction. They generally view complications as opportunities and have experience in achieving ambitious goals with modest means—skills necessary to start up a new business. “No matter what branch of service, a veteran’s experience can be transformed to fit within the make-up of a franchise. Veterans are a perfect fit for the franchise business model, since as veterans, we have been trained to obey and respect orders as well as observe a system standard,” Weiss said. “Figure out what interests you, develop a vision thoroughly, research your franchise options, and do it!” There are many franchise brands to choose from that offer discounts and incentives to veterans. As you begin your research and consider your options, FBR’s list of Top Franchises for Veterans is a great place to start. All the brands on this list have been rated highly by the franchisees who own them—and many of them have shared their satisfaction reports openly on www.FranchiseBusinessReview.com. So, if you are curious to dig deeper into a certain brand, please visit our website to see their scores and to request additional information. If you do decide that a franchise rated highly by other veterans is the best option for you, be sure to talk to as many franchisees as possible. They can give you unbiased and straightforward feedback on what it’s really like to own the franchise you are considering. And, visit www.FranchiseBusinessReview.com to read reviews, examine satisfaction data, and reach out to the brands that pique your interest. Justin and Stephanie Clarey TWO MEN AND A TRUCK ® Columbus, OH Owners Since January 2019 FEATURED Franchisee What was it about the franchise model and/or leadership that led you to purchase it? We really wanted to own a business that shared our core values and principles regarding the employees and the customers. Not only did we find that TWO MEN AND A TRUCK ® shared those values, it also has a great brand that is widely recognized for its service and care. The leadership provides a clear vision and is very transparent, which gives us comfort as business owners in where our business is going and how we can continue to be successful. What do you like most about your job? We love our people and it is exciting to have a company that provides opportunities for people to grow within the company and in life. We are all about moving people forward in every sense of the word. We love being able to work together! We both bring our perspectives or ideas to the business, which makes us better leaders. Having our goals in life and goals in our career align as well as having the same passions, makes our relationship that much stronger. What else would you like to share? We were fortunate to purchase the franchise from existing owners and structure our transition to provide plenty of time to learn and grow as future owners while making a smooth transition for the current employees. We had great mentors who modeled the TWO MEN AND A TRUCK ® core values of moving people forward and really worked to make sure we were ready for day one of ownership. For more information on TWO MEN AND A TRUCK ® opportunities, call (888) 884-1114 or visit franchise.twomenandatruck.com. For more information on the companies in this report, visit www.FranchiseBusinessReview.com | 9
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FBR Issue 4 - 2019

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