Veteran Franchisee Explains 3 Challenges Franchisees Face Today
April 29, 2009 1:11 am Leave your thoughtsVirginia 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:
- 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!'”
- Money. Finding it, managing it and keeping it! “Cash is king,” Ed told the vets.
- 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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Tags: Buy a Franchise, buy franchise, franchise opportunity, franchise success, franchise trends, hot franchises, trendy franchiseCategorised in: Buy a Franchise
This post was written by Dr. John Hayes