Veterans Starting A Small Business – You are here: Home / Home – Selected / A Guide for Veterans Who Want to Start a Business
By 2020, the unemployment rate among veterans was about 3.5 percent — higher than the national average. The Military Times explains that since the outbreak of the pandemic, it has risen to 6.4 percent, with some parts of the nation’s veterans hit harder than others.
Veterans Starting A Small Business
If you are a veteran struggling to find a suitable job in the “real world”, why not start your own business? Entrepreneurship allows you to be your own boss and offers unique challenges that you will find much more exciting than your normal nine to five.
Resources For Veteran Owned Businesses
From gardening to books, if you have a personal hobby you’re passionate about, there’s a good chance you can turn it into a business. But if you’re wondering what that might be, CEO Under 30 offers a comprehensive list of easy-to-start businesses tailored to first-time entrepreneurs. Options include pre-sales, offering private sessions and web design.
You can also consider starting a franchise if you are a first timer. You pay a fee and get to open a fully branded business with a name that customers already know. But if franchising isn’t for you, be sure to come up with a creative (yet simple) name for your project.
You already have many of the skills you need to thrive as an entrepreneur. The military is the best training for entrepreneurship you can get. It teaches valuable skills such as strategy, leadership and resilience.
That said, you may need some additional educational credentials to thrive as an entrepreneur. Courses in basics such as accounting and marketing will provide you with valuable business skills, and many vets qualify for education. Check local colleges for affordable options. You can also find free entrepreneurship courses online.
Small Business Administration Help For Veterans
Once you know the type of business you want to start, you can start it as a formal entity. A limited company is a popular choice, and for good reason. It’s less complicated to set up and maintain, but will still protect your personal liability if your business gets into legal trouble. LLCs also offer tax advantages.
Instead of forming an LLC, you can choose to form a corporation. A company also offers tax advantages and it becomes easier to attract investors. When choosing which state to incorporate your business in, be sure to research the best state to incorporate for tax purposes.
Every business needs a website. It’s a cost-effective and easy marketing tool that can generate interest in your business and attract customers. Having a website also gives your business credibility and allows you to manage your brand. You can create your own website using template sites like Wix. Take your branding to the next level by using a professional photographer – for example, to take a great professional photo of you for your website. People like to have a face to their name.
Once the above steps are completed, you can actually start running your business. The first step? Getting customers. There are many ways to attract customers, from social media marketing to pay-per-click advertising on Google. There are plenty of ways to attract new customers, such as asking for referrals, networking and offering discounts for new customers. Try different strategies to see what works for your audience.
Tips For Starting A Small Business
Starting your own business is exciting, but it can also be scary. Don’t stress yourself. The guide above takes you through the process step by step. And remember: While it may seem scary now, entrepreneurship will probably be a breeze compared to your time in the military.
Veterans in Politics is committed to being an influential political voice for veterans and their families. Become a member today! Did you know that over 2.52 million of all American businesses are owned by veterans? If you’re considering being your own boss, you’ll be in great company. Because our team at Empire Resume cares about the lives of other veterans who are striking out on their own after leaving the military, we’ve compiled a list of amazing small business opportunities.
But before we get started, we invite you to check out the resources to help fuel your old small business ideas from last month’s Entrepreneurship Series like:
And, if you’re looking for more, we’ve got you covered with SCORE, the Procurement Technical Assistance Program (PTAP) and Small Business Development Centers (SBDCs), too. Check out our article, Small Business Veterans, on our military blog full of more information for you.
Barrio Logan Veteran Business Honored As Small Business Of 2022
An article on Military.com states, “According to the International Franchise Association, one in seven franchises in the United States is owned and operated by veterans.”
Advantages of franchising a business as a veteran rather than starting your own from scratch include financial discounts, marketing benefits from branding and awareness, and a set of standard procedures or systems for you. Essentially, as a franchisee, you will have a ready-made business.
When you see how the coronavirus pandemic brought about a change in the way companies operate internally with their employees and externally with customers, you want franchises to be recession proof. For example, the businesses within the food and beverage, healthcare, and delivery industries have been identified as essential during COVID-19.
Inspired by the Entrepreneur Rankings 2019 list of the top 150 franchises, below are some great, well-known franchise opportunities for veterans that we want to bring to your attention:
Woodforest And Peoplefund Introduce Woodforest Foundry
The UPS Store is the world’s largest franchisor of retail shipping, mail, printing and business services. The UPS Store is a powerful brand consisting of over 4,800 locations in the United States, Puerto Rico and Canada. See the Franchise Opportunities page for more information on providing a UPS Store location.
With locations across the nation, the Lansing, MI-based company is the fastest growing licensed transportation company in the United States. To learn more about starting your own franchise, visit the Two Men and a Truck franchise page. Their motto: We move people forward.
Papa Murphy’s, the fifth largest pizza company in the country, is a specialist in the take-out pizza segment, with more than 1,300 locations in the United States, Canada and the United Arab Emirates. To learn more about franchising your take-out pizza business, visit the Papa Murphy’s franchise page. Their motto: We do. You bake it.
Lawn Doctor is the leader in all-season lawns. Headquartered in New Jersey, the company has the highest percentage of lawn industry clients and services in 40 states across the country. Visit the Lawn Doctor’s franchise page for more information.
What Veterans Should Know About Starting A Small Business
Texas-based Fast Signs was listed as a 2018 Military Times Best Franchise and recently received the 2020 Excellence Award from the Canadian Franchise Association, according to WFMZ-TV News. A leading company in the signage and graphics industry, it helps companies and organizations enhance their brand and communicate effectively with consumers. Fast Signs is a commercial bank with over 700 locations in 9 countries. For more information on franchise opportunities, visit Fast Signs’ franchise page.
Just in case you’re thinking, “The investment to start a franchise is steep. I’d rather start a business from scratch.” As a veteran-owned professional resume services company, we completely understand.
Just be sure to take some time to consider your military training, hobbies, volunteer responsibilities, and likes and dislikes. Your startup should be something you enjoy, love, and give you a reason to wake up every day. Be sure to use promotional products to increase your business.
It’s also very helpful if your product or service aligns with your skills, abilities, and even your job in the military. After all, being an entrepreneur is a career change after a military change. Use your military skills to give yourself an edge.
Business Resources For Canadian Service Veterans
Finally, it’s important to note that some places are better than others to start a veteran-owned business. Some of the top cities, according to the PenFed Foundation Veteran Entrepreneur Investment Program, are New York, Houston and Chicago. To discover more thriving locations for veteran-owned businesses, check out the article Top Cities for Veterans to Start Your Own Business by Military.com.
The options are endless when it comes to a legacy small business. And if you already have the equipment to start at home, you’ve already won half the battle.
When you need help getting and marketing your small business, always refer to the blog articles we’ve included here for a list of resources like the Small Business Association Office of Veterans Business Development.
Additionally, always keep Empire Resume in mind for your resume or curriculum vitae (CV) needs. If you are a consultant or applying to become an official dealer, a well-written resume or bio can win the hearts of your potential client and land you the deal. Contact us at 801-690-4085 or info@.
Going Into Business: Start Smart
Dr. Phillip Gold is President/CEO of Empire Resume and has extensive experience writing resumes for service members transitioning from the military to civilian careers. He served as a captain in the US Air Force and was responsible for the safety of nuclear missiles. Phillip is a certified resume writer and has a
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