Question: Can you tell me more about the VetFran program? I’m a veteran and might be interested in buying a franchise.
Answer: The Veterans Transition Franchise Initiative, informally known as VetFran, started about 10 years ago when then-Secretary of Veterans Affairs Anthony Principi began thinking about franchising as an option for veterans wanting to start their own businesses.
His theory was that running a franchise operation would be a good fit for veterans used to the regimented military life. The International Franchise Association took the idea to heart and now runs the program.
VetFran works by providing financial incentives to veterans who want to purchase franchises. All veterans who have been honorably discharged from the military are eligible, provided they meet any additional qualifying requirements that might apply to the franchise they choose. Currently, there are 200 franchisors participating in VetFran, and almost 800 veterans have been able to purchase franchises through the program. Typically, the financial incentive provided by VetFran comes as a discount on the initial franchise fee.
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