Veterans declare their financial independence: veterans are increasingly declaring their financial independence by purchasing franchised small businesses through the International Franchise Association's VetFran program.

Nearly 600 veterans in 45 states have purchased franchised small businesses through the association's Veterans Transition Franchise Initiative, known as VetFran, and more than 150 are in various stages of negotiation. A list of participating companies is available on the association's Web site, www.franchise.org, under "Franchising for Veterans."

More than 200 franchise companies that are members of IFA participate in the program, which offers veterans a "best deal" through discounts or other incentives that are determined by each company. VetFran was recognized by the U.S. Dept. of Veterans Affairs last year with a Support Sector Champion Award for expanding business opportunities for veterans.

With 22 percent of the nation's veterans either purchasing or starting a new business or considering the possibilities, according to the U.S. Small Business Administration, the increased veteran ownership rates in franchising is not surprising, said IFA Pres. Matthew Shay. "Many veterans venturing into small-business ownership for the first time are attracted to franchises for the advantages they offer, including a popular brand name, structured business model and training and support, which aren't available to those who attempt to create a business from scratch."

"Veterans are highly-desirable franchise owners because their military training instills in them a strong sense of discipline and an ability to lead within a structured system, which carries over well to a franchised business," explained Shay. "The VetFran program provides the sector with a way of attracting excellent candidates, while at the same time honoring veterans for their service."