New SDVOSB Franchise Concepts will now proceed
Veterans Business Services (VBS) over the last two years has deployed many strategies to support Veterans in small business and franchising including mentoring, business guidance, VBS awarded Certification by the Center fo r Veterans Enterprise identifying and promoting Veteran incentives, and providing entrepreneurial training to – Veterans. Now VBS, as a Service Disabled Veteran Owned Small Business (SDVOSB), can offer training and franchise feasibility services as an SDVOSB for Veterans developing franchise concepts under VA Self- Employment Plans (SEP). A SEP allows for the development of a small business or franchise under the VA Vocational Rehabilitation and Employment (VRE) program. The Center for Veterans Enterprise at the Veterans Administration is responsible to certify all SDVOSB The CVE certification icon below provides VBS a new tool for helping Veterans develop franchise opportunities.
Despite the many barriers Veterans face in starting a franchise or small business, VBS supports them with a strong personal effort and never leaves a Veteran behind when they ask for business support. VBS guides Veterans through the VA Vocational Rehabilitation Self-Employment track process and directs Veterans to the right resources to find capital to start a small business or franchise. In the end though the VRE is like a bank and even an SDVOSB has to prove to them that it has “skin in the game” and that their SEP is feasible.
VBS will count its success stories one Veteran at a time. Whether it is getting a Veteran funded, helping them create a franchise system, or helping a Veteran find the right entrepreneurial training, VBS tries to empower Veterans to make the right choices for the right reasons
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.
A CASE POINT:
A good example is Donnie Jordan, U.S. Army combat Veteran, who needed VBS crowdfunding support to prove to VRE that he was capable of raising capital.
Donnie’s company, Sphere Force Innovation, Inc., will offer a franchise for renewable energy solutions. Donnie needed additional capital to achieve short term goals and then work toward his franchise beta implementation and the filing of his Federal Disclosure Document (FDD). VBS started a marketing campaign to support his business model that now allows him to continue with his SEP. What VBS immediately found out was that a small crowdfunding campaign is a perfect platform for supporting Veterans going through the VRE Program. Within a few short weeks VBS was able to send out marketing email blasts to our network which in turn helped him fully fund his Loan. Donnie received support on an international level from a crowdfunding loan and can now go on to step two by using the VBS Franchise Accelerator Training ( developed by VBS at VRE) to perfect his own SDVOSB franchise concept. And with the VBS CVE Certification in place and the power of the VBS network, Donnie and others will also use their VRE SEP programs to accelerate the success of their SDVOSB franchise systems and compete in the Federal marketplace.
Congratulations to Donnie Jordan and his Sphere Force Innovation, Inc. on meeting his crowdfunding goals and being one of four VBS SDVOSB franchise concepts selected for this year’s VBS Franchise Pilot. Other franchise concepts being developed with VRE SEPs will be focused on small manufacturing and repair systems; services for Veterans/Veteran Families who deal with Traumatic Brain Injuries (TBI) and Post Traumatic Stress Syndrome; and a local farming and healthy food restaurant concept. All of these new concepts are being developed by combat veterans of the Iraq and Afghanistan Wars.