The military personnel who courageously and faithfully serve and have served our country deserve our utmost praise and gratitude. A different type of battle faces the spouses of these dedicated individuals who pursue dreams of business ownership but are hampered by frequent relocations, limited job opportunities, and the demands of supporting their service member partners.
For those seeking a career that can bring in a steady income while allowing them to explore their career potential, there are several different business ownership options available. Learn more about them here.
The Benefits of Business Ownership for Military Spouses
Though there are unique demands on the modern military family, there are also some clear advantages to this lifestyle that can be used to your advantage when considering business ownership.
Flexibility and Work-Life Balance
Business ownership allows military spouses to create a work schedule that fits their unique lifestyle needs. Whether managing household responsibilities, caring for children, or supporting their spouse’s military commitments, owning a business offers the flexibility to balance these demands effectively.
Independence and Control
Being your own boss means making decisions that directly impact your success. For military spouses who have often adapted to frequent relocations and changing circumstances, this independence can be incredibly empowering and open all sorts of business opportunities, methods of conducting business, and the opportunity for individual creativity and expression.
If you’re ready to put down roots and create a business you can be proud of in a set location, you can take the leap with franchise ownership! If the time comes and you need to move, our resales team is available to help you with the next steps and to help you find the right owner to take over.
Community Impact
Owning a business allows military spouses to contribute to their local communities, adding depth and individuality to improve the overall quality of the culture. Whether through providing essential services, creating jobs, or supporting local causes, business owners can make a significant positive impact.
3 Types of Business Ownership
There are three major types of business ownership, each with clear advantages and disadvantages. It’s important to pick the one that best meets your needs and business ownership goals.
By Yourself: Sole Proprietorship as a Job for Military Spouses
A sole proprietorship means that you – and no one else – own your business. If you have owned a business before, then starting from scratch is not new to you. Keep in mind that you will need to put in a lot of time and effort to choose your industry, formulate a business plan, and get your business started right. While you will be making all of the decisions, there won’t be much support. You’ll need to do your research to determine your competition, target market, and more. This can be a risky endeavor. Many businesses fail within the first year.
Partnership: Working with Others
In a partnership, more than one person owns the business together. Partnerships have different dynamics and partners typically bring different skill sets to the table - one may have business management experience while the other has the technical skills needed for the industry. A strong partnership can help make a business successful. The drawback is that partners will need to be on the same page when making decisions like who to hire, what services or products to offer, and more.
Business Franchise: Ownership with an Established Business Model
As a franchise owner, you enter into a business agreement with a franchise company and use its established brand and business model. If you become a franchisee, you’ll get training and support from the very beginning. The added benefit of a franchise is that brand recognition and the brand’s reputation give you a leg up when it comes to competing with other businesses. Many franchises actively seek Veterans and their spouses, and offer incentives such as reduced franchise fees or financing assistance.
Is Franchise Business Ownership a Resilient Career Path for Military Spouses?
While franchise ownership can offer stability, there are several factors to consider that will determine long-term success and fulfillment:
Industry
The home services industry is a great place to start when considering franchise ownership because its compound annual growth rate is 21.14% through 2030, and there are many business opportunities within this industry that may interest you.
Many franchises, particularly those in the home services sector (e.g., cleaning, pest control, home inspection), provide essential services that remain in demand even in tough economic conditions and can provide a steady stream of customers and revenue. Another benefit is that many businesses within this industry require relatively low investments and can be run from your home.
Franchise Company
As you search for a franchise company, it’s important to know what brands they have, how they support their franchisees, and how they have fared in reviews and ratings. Past performance, expertise, and reputation will give you a clear view of how they operate now and may continue in the future. Great companies are great for a reason and becoming associated with them can be your way to hook your business to a rising star.
Investment
You’ll need financial resources to start any type of business, and it may be easier to secure a business loan if you are working with a franchise company, which may provide financial incentives such as reduced franchise fees or special financing options for Veterans and their spouses. Also, the Small Business Administration (SBA) and other organizations offer loans and grants tailored to Veterans and their families to alleviate the financial barriers to starting a business.
Conclusion: More Than Just a Job for Military Spouses
When discharged from active service, military personnel are often not only interested in jobs for Veterans but jobs for military spouses as well. Franchise ownership, which is not your 9-to-5 run-of-the-mill line of work – neither is military service – is a career that can give veterans and their spouses a sense of purpose and fulfillment. By joining the Neighborly® family, Military spouses gain access to a supportive network of home service professionals and comprehensive resources designed to help them thrive.
Also, Neighborly has made a commitment to veterans and their families with its VetFran program, which was established by Neighborly founder Don Dwyer Sr. More than 500 franchisors currently participate in the program, and more than 6,300 veterans have acquired a franchise business through the program.
If you are a military spouse seeking a fulfilling and adaptable career, download your free copy of our Veteran’s eBook to see how you can partner with a franchise and make your home service business ownership dream a reality.
