Military Veterans Find Themselves On Most-Wanted List

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Military Veterans Find Themselves On Most-Wanted List

Veterans Franchise.com and Sprigster join forces to encourage small business ownership amongst veterans

CHARLESTON, S.C. — Military veterans returning from duty are finding themselves on a most-wanted list as Veterans Franchise.com and Sprigster join forces to combat veteran unemployment and encourage small business ownership.

Franchise lead generation company Veterans Franchise.com has teamed up with Sprigster’s “Boost a Hero” platform to help military veterans in their quest to become small business owners.

“The franchise industry is a strong supporter of veterans,” explains David Schwartz, chief executive officer of Veterans Franchise.com. “Many franchise opportunities are aggressively recruiting veterans as franchisees. They realize how perfectly military training translates into franchise ownership.”

Many franchise systems offer special incentives to military veterans through specialized training, waived fees, and other financial benefits. Yet, for some veterans finding funding to start a franchise remains difficult.

Sprigster’s “Boost a Hero” program, a crowdfunding platform for veterans who wish to “hire themselves” through business ownership fills the gap left open by the current small business lending environment.

“Boost a Hero facilitates access to capital for veterans and military spouses,” says Mark Mohler, chief executive officer of Sprigster.

“We’re extremely excited to be partnering with Sprigster’s “Boost a Hero” platform,” says Schwartz. “Finding funding can be a formidable obstacle to franchise ownership but “Boost a Hero” is giving veterans a way to overcome it.”

Veterans Franchise.com and the other two websites in its network, Franchise Clique.com and Franchise Buy.com, will display large “Boost a Hero” logos and badges to direct veterans to the crowd-funder’s website.

For military veterans who are unsure of which franchise concept is right for them, Sprigster CEO Mark Mohler suggests visiting Veterans Franchise.com.

“Veterans Franchise.com is solely dedicated to helping veterans find and connect with franchise concepts that are aggressively recruiting those with a military background,” says Mohler.

“Both Veterans Franchise.com and Sprigster are rallying the crowd together in support of America’s veterans.”

About Sprigster

Sprigster’s Boost a Hero program is the first crowdfunding platform to bring the power of crowdfunding solely to benefit US military veterans. Sprigster was founded and is operated by serial entrepreneurs with extensive experience in building and advising social enterprises. Sprigster’s Boost a Hero program was designed to facilitate access to capital for qualifying U.S. veterans and now to military spouses. For more information about Sprigster, please visit http://www.sprigster.com.

About VeteransFranchise.com

VeteransFranchise.com is an online portal designed to connect military veterans with franchises and business opportunities that provide support, financial benefits and other incentives for those who have been a member of the armed forces. In addition, VeteransFranchise.com provides lead generation services to those franchises that are committed to aiding military veterans become business owners. For more information, visit www.veteransfranchise.com or email info@veteransfranchise.com.

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Veterans Franchise.com Speaks Out About Why We Need to Recruit Veterans As Franchisees

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Yesterday, our offices were visited by the Live 5 News crew and reporter Nicole Johnson as they covered a story on why franchises are recruiting veterans. Local veteran-turned-franchisee, Anthony Brown, was also part of the story.

 

As the interview was filmed in our offices, I was able to see and hear how important small business ownership has been to Anthony. Consequently, Anthony reminded me how sacred the American Dream is.

 

While his service ended in 1991, Brown was still confronted by fears of unemployment after 12 years of military service. This same issue waits on our shores for veterans returning from Iraq and Afghanistan with the added unfortunate reality that the economic recovery remains tepid and slow.

 

Thankfully, VetFran and the 400+ franchise systems involved are doing what they can to make it possible for veterans to move forward with their civilian lives as small business owners. I felt a sting of pride knowing that a company I work for, despite not being a franchise, is doing what it can to connect veterans with opportunities and their own version of the American Dream.

Live5News.com | Charleston, SC | News, Weather, Sports

What Franchises Need to Know About Satmetrix

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What to do when your customers go from engaged to enraged.

 

The advent of social media has ushered in a new customer service paradigm. Interactions between a business and its customers — positive or negative– are now part of a company’s narrative thanks to platforms like Facebook and Twitter.

 

For businesses, this presents an opportunity to engage with its customer base and obtain feedback on its products and services. Under normal circumstances, this is a good, even great, thing. But, when a customer turns from engaged to enraged, a business is often caught off-guard, especially if a customer chooses to vent his or her frustration publicly. An angry customer is a scary thing; an angry customer on Twitter or Facebook is terrifying.

 

Dissatisfied customers present a unique challenge to franchises. Negative feedback expressed publicly can not only tarnish the reputation of the local outpost, but also influence a potential customer’s perception of the brand overall. As Forbes reported earlier this year, “when you make a decision to choose one brand over another, you’re influenced more by the company’s reputation than any particular product it offers.”

 

So how do you manage your reputation, keep your customers happy, and protect your bottom line? Satmetrix has a suggestion: put your net promoter score to work.

 

There are three types of customers: promotors, passives, and detractors. Customers that support and advocate for your brand are promoters. Those that support your business but aren’t telling their friends and family about you are considered passives. Customers that speak out against your business due to a poor experience are labeled as detractors. A brand’s net promoter score is calculated by subtracting the percentage of detractors from the percentage of promoters and provides a company with a numeric indication of its customer base’s level of satisfaction.

 

Traditionally, a net promoter score was calculated through surveys, which have become so ubiquitous they’re ineffective. Fewer and fewer customers care to respond to surveys because they get so many. Spark Score, a program from Satmetrix, surveys what customers are already saying by sweeping the Internet and social media.

 

At this point, the folks at Satmetrix decided to go a step further. After the net promoter score has been calculated, more questions are asked. In doing so, Satmetrix is able to draw a correlation between the net promoter score and what’s causing a customer to recommend your brand or, in some cases, to not recommend your brand. The goal is to identify the moment that franchises (and other businesses) are dropping the ball in order to fix the underlying error, improve overall customer relations, and ultimately win customers back.

 

A recent study performed by the Gallup Business Journal indicates that bringing on new customers is about emotion, not price or product. It costs more money to woo a new customer than it does to keep an existing one. In addition, satisfied existing customers spend an average of 2.6 times more than one that’s relatively satisfied and 14 times more than one that isn’t satisfied.

 

In the graph below, total revenue is represented by the total sales from passive and promoter customers in a nonexistent company. Total potential revenue represents the total sales from promoters, passives, and detractors who have returned as passive customers after having their customer service issues resolved. On average, the difference between the total and total potential revenues each month is $9,333.

 

The way Satmetrix has designed their program gives franchises the ability to assign each customer type a value, placing into perspective the real cost of a dissatisfied customer. In the case of the nonexistent company above, one detractor equals 2.6 passives and 1 promoter. So, when you lose a customer due to a poor customer service experience, you may need two customers to make up the difference in lost revenue.

 

At the end of the day, it’s more than the loss of a customer and sales; a detractor also has the ability to turn potential clients into detractors before they’ve even become a paying customer. When you’re looking to try a new restaurant or need help mowing your lawn you turn to family members and your friends for recommendations. The same applies to every business.

 

Satmetrix hasn’t stopped at creating a better net promoter score or helping companies assign a value to each customer type. With Satmetrix, sales teams can respond to customer service emergencies in real-time, assuaging a dissatisfied customer’s frustrations before they’ve said sayonara and been welcomed with open arms by a competitor. It’s also at this point that Satmetrix can help companies identify exactly where they’re going wrong in the sales process. As Carol Tice of Entrepreneur magazine points out, two of the best ways to keep angry customers from storming out and never coming back are reaching out via social media and fixing the broken policies.

What the Olympics Can Teach Us About Franchising

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The world’s best, strongest, fastest, and most talented athletes are competing for personal glory on the world’s most public stage: the Olympic Games. Behind the fanfare, sponsorships, and medals lie years of hard work, sacrifice, and standing on the shoulders of your supporters.

 

As a franchisee, your business is your Olympics. While you may not find yourself on a podium decorated with a bronze, silver, or gold medal at the end of each day, your customers, employees and franchisors are judging your performance.

 

The Importance of Passion

Take a page out of an Olympic athlete’s book: passion is paramount. How else could you dedicate 20 years of your life, as Michael Phelps has, to hours and hours of training? To not watching your favorite television show? To not ordering dessert? The only time that sacrifice doesn’t feel sacrificial is when what you stand to gain is greater than what you are forgoing. That, and when what you’re doing still feels like fun.

 

Olympic athletes are often quoted pre-and-post event on the importance of, “going out and having fun.” Without some semblance of fun, the hours in the gym, pool, or at your business, would be unbearable. That’s why when choosing a franchise concept it’s important to be truly interested in or passionate about the business you’re about to buy into. Franchise agreements are written in terms of years. Most are between 10 and 25 years. Can you imagine doing something you don’t really like for so long?

 

What It Means to Be a Part of Something Larger Than Yourself

 

There’s something to be said for being a part of something larger than yourself. Recognizing your place as part of the whole (as opposed to the whole) can be humbling and empowering.

 

As a business or franchise owner your importance is obvious. Without you there wouldn’t be jobs for your employees or services and products for your customers. Then again, if it weren’t you it would be somebody.

 

Embracing this reality and mentality can make you a better manager and franchisee. When you accept that your role, while important, exists only thanks to your franchisor, your customers and your employees, it’s easier to be more appreciative of how your business truly works.

 

Furthermore, realizing your place in something bigger serves as a reminder that you are responsible to and accountable for others—an important inspiration for staying true to your endeavors when you lose sight of your goals. Perhaps this is why Olympians become so overwhelmed with emotion; they see they represent more than just themselves.

 

The Importance of Support and Guidance

Regardless of what you may believe, we all stand on the shoulders of those who have come before us—and thank goodness for it! The experience and knowledge of others is invaluable whether you are an Olympic athlete or a franchisee.

 

Can you imagine going to the Olympics without the guidance or tutelage of a coach? Can you imagine becoming a business owner without support from your family or friends? As a franchisee, you not only have the support of your friends and family, you have the support of a network of franchisees and franchise support systems designed to make you and keep you successful! While your personal and financial preparation is your responsibility, you are not without resources or guidance.

 

 

 

What Obamacare Means For Franchising

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Last Thursday, The Supreme Court ruled the Affordable Care Act as constitutional. In the days that have followed, some have rejoiced in victory and others have contested the ruling in anger. However, everyone is asking one salient question, “What does this mean for my future healthcare costs?”

 

If you’re a small business owner (which includes franchises), you’re probably particularly concerned with the potential added costs of the Affordable Care Act. Do you have to provide healthcare for your employees? If you’re an employee of a small business, you’re probably also concerned. Does this mean that you’ll lose your job? Or, will you be asked to work part-time hours so your employer can opt out of paying for your health insurance?

 

First of all, here’s a breakdown of what the law requires. For more detailed information, head here.

 

  • If you own/operate a business that employs 50 workers or less, you will not be required to provide healthcare coverage because you are considered a small business by the Affordable Care Act.*
  • If you own/operate a business that employs more than 50 workers, you will not be required to provide healthcare coverage. However, beginning in 2014, employers that do not provide adequate health insurance will be required to pay an assessment if their employees receive premium tax credits to buy their own insurance. These assessments will offset part of the cost of these tax credits. The assessment for a large employer that does not offer coverage will be $2,000 per full-time employee beyond the company’s first 30 workers.
  • If you are self-employed with no employees, you will be required to purchase health insurance or pay a tax equal to 2.5 percent of your household.

 

Last Friday, The International Franchise Association conducted a survey of nearly 200 franchise owners, operators and executives. Asked if they’re more or less likely to hire based on how the Supreme Court ruled last Thursday, of the 200 survey participants 85 percent said they would be less likely to hire. Fifteen percent said they would be more likely to hire.

 

At a separate time but in tandem with the IFA, The Hudson Institute conducted a study that suggests 3.2 million jobs at franchise businesses remain at risk as a result of the employer mandate provision of the healthcare law.

In a recent Washington Post piece, FASTSIGNS chief executive officer, Catherine Monson, called the law “truly unworkable and unaffordable for our country’s small business owners.” Monson lampooned the Affordable Care Act, saying that it is “one of the largest tax hikes in U.S. history,” one that comes at the expense of small businesses, and will ultimately impede growth at a time when our country needs it most.

 

Just to be clear, the Affordable Care Act isn’t one of the largest tax hikes in U.S. history. Presidents Bush and Reagan both introduced tax increases larger than Obamacare.

That said, the law does include a number of tax hikes:

 

  • $27 billion : the amount the individual mandate will raise during the next decade.
  • $30 billion: the amount the tax on unusually expensive health insurance plans will raise during the next decade.
  • $60 billion : the tax on insurance companies
  • $200+ billion : the amount the largest tax increase in the law comes from high earners, who will see Medicare payroll tax increase by 0.9 percent

 

“Bottom line: the law will deter growth by unintentionally discouraging franchisees from owning and operating multiple locations, creating a competitive disadvantage for our franchisees who do own more than one or two locations (and who may want to open additional stores), and barriers to entrepreneurs who are looking to capitalize on the franchise business model to grow their business and hire more workers,” writes Monson.

 

What do you think about the Affordable Care Act? Is universal healthcare something that the United States needs to embrace? Or, is it a hindrance to job growth?

 

*If you own/operate a small business that employs 25 workers or less, you will not be required to provide healthcare coverage. However,  the government offers subsidies for small businesses with less than 25 employees who make less than $50,000 annually. A tax credit to defray 35 percent of the cost of healthcare will be given to for-profit companies; a credit of 25 percent to not-for-profits. In 2014, those percentages will rise to 50 percent and 35 percent, respectively.

Helping Hand for Veterans: Franchises Offer New Career Path

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“Mickey Ayres, looking to launch a new career after 30-plus years in the Navy, wanted to run his own business.

“I’ve always had the entrepreneur in me,” said Ayres, a command master chief petty officer — the most senior enlisted rank in the Navy.

He wanted to go the franchise route and decided on The UPS Store; it seemed a good fit, he said, with his experience as a logistics specialist in the service.

There was one problem: He was always a bit short of the funds needed to afford the roughly $30,000 franchise fee…”

 

Read the entire story here on HispanicBusiness.com