Our tradition of giving honor to love ones, who died while in the service of our country, by visiting their graves, holding parades and gathering with families and friends begin right after the Civil War. First called “Decoration Day,” Memorial Day became an official holiday in 1967. As we take the time this year to pay respect to the memory of fallen servicemen and women, let’s not forget the estimated 200,000 veterans who transition back to civilian life each month. For the many of these veterans who have a desire to continue another time-honored tradition-- veterans who become entrepreneurs--VetFran can help.
This program has a strong interest in helping these brave men and women realize the American Dream of owning their own business. One of those options, of course, is Mr. Appliance.
Veteran Transition: Become a Business Owner
According to the Institute for Veterans and Military Families at Syracuse University, an astounding 49.7 percent of the veteran who served in World War II went on to own or operate a business, and about 40 percent of the Korean War veterans also became business owners. Many of these men and women took advantage of benefits for veterans, which included low-interest rate loans, to power the American economy, create job and generate wealth.
The best businesses for veterans coming home these wars cut across a variety of industries, including:
- Real Estate
In stark contrast to WWII and Korean War veterans, the Bureau of Labor Statistics reports that of the 3.6 million men and women who served in the U.S. military since September 11, 2001, only 4.5 percent of them have started a business. History shows that importance of offering benefits for veterans to encourage business ownership.
Best Businesses for Veterans: Home Services Sector
Include the home services industry among the sector that provide the best businesses for veterans. Depending on the source, the U.S. market for home services total $400-$800 billion a year. For years, homes services remained the domain of wealthy homeowners, especially cleaning, lawn maintenance and landscaping. With more women in the workplace creating dual-income households, traditional home services are no longer considered only for wealthy households. Some of the best opportunities for the best businesses for veterans in this category include:
- Appliance Repair- According to industry research, this field has an annual revenue in the U.S. of $4 billion+.
- HVAC – According to the one industry report, the Heating, Ventilation, and Air Conditioning field will grow by 3.1 percent, especially as people move to moreenergy-efficient systems.
- Plumbing Services – Has an annual growth rate of 4.4 percent.
- Gardening & Landscaping – These services include mowing, chemical lawn care, flower-planting, pruning and more. Many franchisees offset the seasonality of the business by offering with snow removal and other exterior services.
- Painting & Decorating – Offer painting services to both residential and commercial customers.
- Cleaning Services – Cleaning services have become a necessity or even a convenience for many homeowners.
- Handyman Services – Many homeowners are hiring out small tasks formerly relegated to the DIY list, from hanging TVs to installing fireplace mantels.
In addition, the unprecedented number of baby boomers deciding “age in place” has created a boom in renovations. These Remodeling projects include making bathrooms and kitchens more accessible and user-friendly for older homeowners and people with disability and mobility challenges.
Helping Veterans Transition to Successful Business Owners
Since the end of the Gulf War in 1991, VetFran has striven to mitigate the financial barriers that keep veterans from becoming business owners. Since our inception more than 6,300 veterans have become business owners with the assistance of our program. In addition, more than 374 veteran franchise owners have received discounts awards of more than $2.1 million dollars.