Veteran Franchisee Explains 3 Challenges Franchisees Face Today

Virginia Barbeque franchisee Ed Totanes recently helped me introduce franchising to a group of veterans in Washington, DC. Ed is a veteran who took advantage of the VetFran program, which helps veterans of the U.S. armed services buy franchises at a discount.

Challenges franchisees face

Ed said every franchisee (regardless of the type of business) is facing 3 primary challenges today:

1. Labor. Finding the right people is a challenge, in spite of high unemployment. Ed’s suggestion: Hire a veteran! If they’ve been through boot camp they’ve been trained and they know how to say, ‘Yes, Sir!’”
2. Money. Finding it, managing it and keeping it! “Cash is king,” Ed told the vets.
3. Marketing. Businesses don’t just develop, they have to be cultivated. You need a good marketing campaign. “That’s one of the reasons why I prefer a franchise,” he commented.

Advantage over civilians

Ed told the veterans that if they become franchisees they have an advantage over civilians. “The military teaches us to work hard and work as a team. Civilians don’t understand that,” he concluded.

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. . . Register immediately for my free franchise tele-seminar: How To Buy A “Hot” Franchise And Not Get Burned!  Date is May 6 and you can subscribe while slots are still available . . . you’ll love the fantastic give-away. Read about it here.