VBS PLEDGES FRANCHISING PROFITS TO REBUILD THE VETERANS CORPORATION
EBV Graduate Companies to spearhead effort
The idea for The Veterans Corporation (“TVC ”) when formed by Congress in 1999 was to act as central clearinghouse to help Veteran entrepreneurs. And it was a good idea supported by major Veteran Service Organizations.
But when the original politically appointed team mismanaged and abused its promise, the next generation of Veterans who by then had begun to bear the burden of Iraq and Afghanistan got
short changed. They were unaware that quietly, in the dead of night, the politicians took away the funding for their The Veterans Corporation. The politicians threw out the proverbial “baby with
the bath water”.
The reality is that old The Veteran Corporation just couldn’t function with all the political interference. Then and now it needs to be a private organization, one that is self-sufficient and controlled by the next generation of those who have borne the battle.
The logo for original TVC was supposed to depict Veterans thinking outside the box. And our new Veterans were definitely “outside the box” then, they were actually “in the sandbox”.
OUT WITH THE OLD
IN WITH THE NEW
Of course a logo and ten cents still won’t get you a cup of coffee these days. So initial financial support will come from Veteran Business Services (“VBS”) a company using a profitable franchise industry business model developed at the Entrepreneurial Boot camp for Veterans with Disabilities (“EBV”).The VBS plan was also supported by the Federal Government’s” Boots to Business” Program for transitioning entrepreneurial servicemen and women.
Unfortunately not all Veterans can access the competitive EBV program. Because of that limitation VBS and other EBV graduates have decided to launch an initiative to enable the new
generation of Veterans to get control The Veterans Corporation. By doing so, they can accelerate knowledge sharing and resource strategies. TVC will operate as a private social enterprise. VBS is now profitable and has been fortunate enough to get further support from the Institute for Military and Veteran Families (“IMVF”) with IMVF acting as a Trustee. VBS will raise capital
for the TVC initiative under the Kiva/IMVF crowdfunding loan platform.
But what’s the strategy for rebuilding The Veterans Corporation to operational self-sufficiency?
VBS, using its Franchise Accelerator will be the first of hopefully many other Veteran and EBV businesses which will pledge profits to help rebuild a new TVC .VBS will also make its technology available to TVC via its VA VRE pilot to train veterans to build and execute successful self-employment plans with Chapter 31 benefits. Veterans will first learn to use the tool to implement
franchise transactions. Other uses include providing mentor teams for developing franchise concepts for qualifying Veterans under the VA VRE Program.
As a recent Department of Defense white paper, After the Sea of Goodwill: A Collective Approach to Re-integration pointed out, there are literally tens of thousands of Veteran support entities
from the all of sectors depicted in the graphic (left). Even with this many resources that our out there there’s been something missing for Veteran entrepreneurs: coordinated small business advocacy team and peer to peer resources. VBS has been working with Process Peak to improve its Veteran focused CRM system and its VBS Franchise Accelerator. Both will provide
TVC a platform for mentoring and partnership opportunities for economic growth and self-sufficiency. TVC then can make the holistic advocacy team plan grow.
Small business mentoring is a great tool for Veterans but any successful business plan requires focus and customization. TVC’s ultimate goal will be to have an Army of small business mentoring teams and Veteran peer to peer team members at the ready for the new generation of Veterans who have borne the battle.
VBS’ Founder and Managing Director, Jim Mingey, is a decorated Vietnam Veteran raised from a proud military background. An entrepreneur for more than 35 years, Jim can relate on a personal level to the needs of the Veteran small businessperson, and possesses the practical knowledge to implement his experience in today’s market. Jim participated in the EBV Program at Purdue University, is a mentor at American Corporate Partners, developed the first approved franchise training program for the Vocational Rehabilitation and Employment(VR&E) Program at Veterans
Administration, and was instrumental in forming the first equity fund in the United States exclusively for Veteran owned small businesses and franchises: The Veterans Opportunity Fund. Jim intends to keep on ‘advocating’ for Veterans in franchising.
For further information visit: www.veteransbusinessservices.us