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For US veterans who are interested in franchising a business, the Military Times posted its top picks for 2017.
To give you a quick view on the hottest picks, travel franchise CruiseOne bagged the top spot. The second place goes to a repair/maintenance franchise, the Color Glow International, followed by the fast-food restaurant Marco’s Pizza. Among the three, CruiseOne needs the least initial investment at $3,245 to $21,850 while Marco’s Pizza requires the most at $224,092 for up to $549,092.
The franchises that participated were required to fill out a detailed survey which was comprised of 100 questions and present their franchise disclosure documents among others. Unfortunately to some of these, they did not make it to the final cut – which is bad news for them but good news to the veterans since this will give them a reliable data that could help them decide on where to invest their money.
All of the franchises in the list say that they give discounts to veterans and to the people who have connections to the military. The discount is usually applicable only to those who will be opening their franchise for the first time. The markdown averages at 18% for the initial franchise fee.
For those who are hesitant to venture in the franchise business, this information might help you change your mind – it is said that more than 87% of franchises run by veterans were able to stay afloat in the past three years according to the data provided in the survey.
Of course, in order to succeed, there are some things that you still need to take into consideration. One of the most important ones would be the support that the franchise offers to franchisees. For example, CruiseOne and Dream Vacations do not just receive help from the brand but they could also rely on other franchisees for support. Take note that the extent of support given to franchisees often differs from one company to another.