Many people are starting to take the leap to work for themselves and start their own businesses, and many veterans have a great business idea that they want to make a reality.
As a veteran, you can receive additional funding, as well as perks, that might be unavailable to other citizens seeking to start their own business. If you are a veteran or soon-to-be one, consider some of the advantages of launching your own business.
You Have What It Takes
If you have gone through the rigors of serving your country, you already have what it takes to become a business owner.
Your military training gave you more than you probably realize. According to one veteran business owner, “[The military] taught me to take responsibility for results and my own actions. Being in the military as an aviator forced attention to detail, but it doesn’t come naturally to me. I learned a lot about leadership and about focusing on the little things that have really transferred to being a business owner.”
As a veteran, many consumers can appreciate your service, and many may become loyal customers to support your endeavor.
An Excellent Source of Income
There are many veterans that find it difficult to make ends meet for one reason or another, and others sink into poverty and homelessness due to financial struggles.
Whether it is medical bills or other living expenses, owning your own business can provide a superior source of income. Not only can the additional income help to alleviate your worries, but you can live the type of lifestyle that can bring great satisfaction.
Franchises Appreciate Veterans
If you are thinking about starting a business, you should consider buying a franchise. Franchises like vets and many companies may even provide a valuable deal for you to join one.
According to Pizza Factory, “Our experience working with veterans has helped us identify the unique skill set that veteran franchisees can bring to business ownership: dedication, responsibility, a strong work ethic and the capability to succeed with a proven system.”
If you want to get your business started up quickly, you might want to sign on with a franchise. What is admirable about franchises is that much of the planning and work is completed for you, and franchise operators also provide strong support to ensure that you succeed.
To Receive Grant and Loan Money
A lot of veterans are aware of the possibility of getting a special mortgage with a low-interest rate due to their status. But many can also get some special loans for business purposes as well, that can make it a little easier to get a foot in the competitive markets these days. The Small Business Administration offers loans to veteran entrepreneurs, and the SBA administers special grants to disabled veterans who want to start their own business.
A number of foundations also eagerly support veterans in making their business dreams come true. You can take advantage of these programs as a veteran and start running your own business quicker than you think.
To Set Up for Future Generations
Not only does the extra income from a business support your needs and desires, but you can also help out your children, grandchildren, and other relatives. If you start a business now, you can pass on an established company to future generations of your family members. Passing along your business to your descendants or other loved ones may be one of the most rewarding experiences that you can have in life.
Although starting your own business has many benefits, it is important that consistently put in hard work, determination, and focus to achieve your business goals. Creating a solid business plan and defining your goals and objectives clearly can help you reach success.
Veterans have a number of resources available to them that are offered by the government, banks, and educational institutions, so be sure to explore the myriad of options to find out more information. There are also free courses that you can take comfortably online, and the Veteran Entrepreneur Portal can connect you to a number of superb resources.
You’ve fought to protect your loved ones. Now let us fight to protect you. Warrior Wealth Solutions is dedicated to providing our nation’s veterans with the business consulting services they need to accelerate past their competition. Get started with us today.