Franchises for veterans may be a better alternative for those who are struggling to find a job in the U.S., due to the unavailability of jobs for ex-servicemen.
Veteran unemployment in the country improved in May, when the jobless rate reached 3.4% compared to the national rate of 3.8%, according to the Department of Labor. Still, many veterans remain out of employment in some states where the jobless rate reaches at least 7%.
There are many types of franchise businesses today, including home inspection services. When choosing a business, veterans should pay attention to the strength of a particular industry. In the property sector, demand for homes has been strong that in turn spurs the need for building inspection.
The home services industry is also a huge business with a value ranging up to $800 million. Aside from building inspection, more homeowners would want renovations that focus on sustainability. This would open a new market for franchise businesses in the next few years.
Female veterans should consider a franchise business instead of looking for a job, as women who served in the military have a higher chance of being jobless than male veterans. If you are keen on just looking for a job, several programs have existed to support your transition into civilian life.
The Veterans Welcome Home Commitment and Transition Support Services are some of these initiatives. Those who would like to go back to school may do so under the post-9/11 GI bill, which provides funding for qualified members after a certain time in the military.
Private and public sector groups have been working to provide veterans with a reasonable job after their military service. However, it’s up to you if you should continue to look for salaried work. By choosing to buy a franchise or start your own business, you have a higher chance of earning from something that aligns with your interests.