Here come those discounts again from all of America’s patriotic merchants. Whether it’s free coffee, a breakfast, admission to a theme park, a good night sleep at a hotel or a free haircut, this year’s Veteran discounts offer something for everyone.
Are all these merchants really patriotic or could this just be good business through making an annual discount gesture to the 23,000,000 Veterans in America? In fairness, for many merchants both of those goals are compatible and many major companies like Home Depot offer year round discounts and many other non-commercial community programs for Veterans. Discounts seem to come from everywhere. Veterans can even get a $25 coupon for completing a personalized and confidential behavior survey from VetsPrevail where Veterans earn rewards for helping each other to discover issues and overcome their challenges with PTSD.
Franchise Industry Discounts
Within the franchise industry it hasn’t escaped franchisors that offering discounts to Veterans is very good for business. At VetFran, an initiative of the International Franchise Association, over 700 of their franchise members compete for Veterans attention and the VetFran discount deals they list are even star rated for value and vetted for viability. Even though VetFran offers valuable opportunities, the franchisors still wouldn’t make their offers without a very good prospect of getting their upfront discount (which might be viewed as their investment) back from the Veteran franchisee over the life of the franchise. Of course the discount can hopefully be a win/win.
Ask your own franchise consultant what cash discount they can provide on your franchise idea.
Any reputable consultant will spend hours with a Veteran, asking questions and listening to your needs and goals, before ever recommending a franchise. Any consultant who starts mentioning companies after a few minutes of conversation is simply trying to steer the Veteran to an opportunity that probably benefits the consultant without considering what really benefits the Veteran.
Nevertheless, even reputable consultants have a limited number of pre-screened opportunities. And if the Veteran isn’t interested in one of those “pre-screened” opportunities, how can he/she really know if they are truly getting unbiased advice.? Of course that same consultant can adapt to other potential choices and whatever is most important to the Veteran looking for a franchise. But at the end of the day the consultant will typically recommend a franchisor they represent and that pays that consultant a fee.
So often franchise consultants will say their services are “free”. Maybe Veterans should ask their franchise consultant if they will share a percentage of their “free” fee from your selected franchisor. Ask if they will guarantee the greatest possible rebate on your transaction. Or maybe Veterans should ask if the consultant will continue to represent them and even provide a 100% discount on the consultant’s fee if the Veteran eventually chooses an opportunity that is not one on their list.
We believe there will be many new disruptive “discount” ideas for Veterans coming from franchise consultants in 2017. In the spirit of Veterans Day “discounts”, all Veterans should have a conversation with their franchise consultants about possible discounts and fee rebates long before they go into the discovery process on any franchise opportunity.
Enjoy your Veterans Day!
Click below to see some Veterans Day deals*
*Keep in mind that most businesses require proof of military service and not all franchise locations participate in their national chain’s Veterans Day programs — be sure contact your nearest establishment to make sure they are participating.
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.