Veterans Show Strong Propensity for Small Business Ownership as a Second Career
63 Percent of Service Members Looking to Start a Small Business Consider Franchising
Nearly nine in 10 veterans and active duty service members expect to have a second career after they separate from the military, according to a recent survey* conducted by The UPS Store®. With a strong desire to be their own boss, service members are interested in applying the skills they learned in the military toward owning a business. In fact, of those surveyed, 63 percent who envisioned a second career as a small business owner considered owning a franchise. Some other notable survey results:
- 54 percent of service members feel confident that the skills they gained while in the military will help them be successful in the civilian world.
- 68 percent of service members feel that training would help them overcome their concerns about transitioning to the civilian workforce.
- When choosing a second career, service members are looking for companies that are supportive of veterans and help them achieve work-life balance.
- Top qualities service members believe they can bring to the workforce include leadership (80 percent), hard work ethic (73 percent), the ability to work under pressure (73 percent) and the ability to work as part of a team (70 percent.)
“The skills veterans develop through their military experience, such as leadership, work ethic and discipline, are integral to pursuing a second career,” said Tim Davis, president of The UPS Store, Inc. and former U.S. Marine Corps captain and Gulf War Veteran. “The UPS Store franchise allows veterans to apply these skills to manage and run their own business. We are proud to support veterans and help fulfill their aspirations to be successful business owners.”
More than 200 veterans have already chosen to become their own boss with The UPS Store, applying the leadership and teamwork skills they learned in the military to open and run their own UPS Store franchise.
As participants in the Veterans Transition Franchise Initiative (VetFran), a cooperation of the U.S. Department of Veterans Affairs, the Veterans Corporation and the U.S. Small Business Administration, The UPS Store’s franchising opportunities allow veterans the opportunity to fulfil their desire for a second career. Qualifying veterans receive $10,000 off the franchise fee for opening a new The UPS Store location and 50 percent off the initial application fee.
*The results of the survey are based on an online survey conducted October 6-9, 2015 by The UPS Store, Inc., franchisor of The UPS Store network, with members of the military. The online survey was conducted with 500 members of the military, including 250 active duty service men and women, and 250 veterans. The UPS Store, Inc. strives to include accurate and up-to-date Information but makes no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information or survey results provided herein; the information is provided on an “as is” basis.