Veterans now own approximately one out of every 10 small businesses in the United States. According to the US Small Business Administration, veterans are 45 percent more likely than civilians to start their own small business.
There are a variety of reasons why veterans and their families decide to start their own business.
While some do it to supplement their income without having to work for someone else, others do it to put their excellent skill sets to good use, which include key leadership traits and discipline.
Here are a few small business ideas to consider for ex-military families.
1. Open a store that sells army surplus.
Ex-military individuals are ideal candidates for establishing an army surplus business because of their experience and abilities.
Although obtaining stock from government auctions and other sources may require a significant initial investment, selling hunting, camping, and adventuring equipment can be extremely profitable and exciting for a military-oriented family.
When it comes to any type of retail or rental business, the location is crucial.
It’s also a good idea to see if any additional permits are required for the sale of specific items. You can add a service element to your business in addition to selling various sorts of gear, allowing more family members to participate.
Rifle cleaning lessons, camping workshops, and survival skill seminars are all possible service options.
2. Security consulting or training could be a good fit.
Someone having a military experience may be ideal for a career in security because of the great skill sets already highlighted.
Due to the different jobs that must be filled, security consulting or training can be a very profitable family business.
There may be a requirement for sales representatives and administrative staff in addition to someone to deliver the training or function as a consultant.
If you have enough space, you may easily conduct this type of business from home. If you’re in the market for a new home anyway and have the funds, search for one that has enough room for you to start your business.
3. Make a written record of your experiences.
If you can regularly produce great, engaging content, blogging may grow into a very profitable business.
Your blog can either focus on one area of military life, such as personal security or beginning a business as a veteran, or it can cover a broad range of related issues.
You can make money from your blog in a variety of ways. Affiliate marketing, adverts, collecting sponsorships, and establishing an online store to your site are all options worth considering.
If you’re going to use an internet store, keep marketing awareness in mind.
4. Make the Most of Franchising Opportunities
When it comes to launching their own small business, many veterans look to franchise options. Franchises come with pre-installed systems, processes, and procedures.
As needed, franchisors also provide training and assistance. This helps you save a lot of time and work. Furthermore, most franchises are organised in the same way that the military is.
You’ll be given a plan, a checklist, and instructions to follow, all of which you must follow. While the initial investment may be substantial, several franchisees actively recruit veterans and provide discounts on various fees.
These savings are usually substantial, ranging from 10% to 20% off the franchise price.