There’s always plenty of talk about getting veterans back into the workforce after their tours of duty are over. And resources for veteran entrepreneurs also abound. The iconic mini-market 7-Eleven is going a step beyond that.
7-Eleven proposes that many returning vets would make excellent small business owners. They also propose to give them up to a 20 percent break on the cost of obtaining a franchise.
On the company’s website, Joe DePinto, 7-Eleven’s president and CEO (and also a veteran of the U.S. Army), says, “A 7-Eleven franchise is a natural fit for veterans. As Franchisees, they add solid leadership skills and strong discipline to the creativity, energy and spirit of entrepreneurship. They are good at dealing with people and with day-to-day challenges.”
7-Eleven has set aside $2 million in discounts for the purpose of recruiting one hundred vets to take franchises by the end of 2016.
Recently, the company ran a contest for veterans called Operation: Take Command, and awarded three franchises, free of cost in the available store of their choice.
“What better time to announce our intent to continue providing more opportunities in the coming year for those who served our country than around Veterans Day,” says Greg Franks, 7-Eleven franchise systems vice president. “U.S. military veterans have the skills, focus and dedication to achieve great success as franchisees.”
7-Eleven differs from most franchises in that it takes a percentage of the gross income, rather than from all the sales. For that percentage, the company provides bookkeeping, payroll and a personal business consultant. Startup costs, including the franchise fee, average $239,000.
Atul Jajoo, a franchisee, said to Buffalonews.com, “You don’t have to worry about paying rent or utilities or taxes for the building, and they take care of maintenance. So there’s less stress and you can just focus on running and growing your business. They seem very interested in seeing you succeed.”
More information on the Military Veterans Franchise Program can be found at the 7-Eleven website.
7-Eleven Photo via Shutterstock
I have been reading lots of veteran-related articles lately. I guess most of them are now interested in holding their own businesses. True enough, doors are opening to accommodate them.