For years, veteran-owned businesses have made major contributions to the economy. This is no surprise as veterans often possess several skills and traits that are great for business. Such traits include perseverance, discipline, dedication, ability to work under pressure, great leadership skills, resilience, and, strong work ethics among others. Many government agencies and non-governmental organizations provide ample resources to help veterans succeed in their entrepreneurial ventures; such resources include funding, and business education services.
Veterans have been shown to succeed in businesses across several industries, from construction to oil and gas to security and home services. Each of these businesses adopts a unique strategy to succeed. Here is a list of 4 small and medium-sized business ideas for veterans and some strategy ideas to make the business a success.
- Set Up a Cleaning Franchise Service
The routine bed making, boot cleaning, etc that happens in the military is said to promote discipline and another ethos. These qualities make it easier for veterans to run cleaning businesses. Thanks to years of constant training, a veteran knows to offer nothing but first-class service, even when it comes to keeping things spic and span.
According to the professionals at Compass Cleaning Solutions, “Almost everyone loves a clean environment because it gives them a sense of comfort and control over their environment.” Therefore providers of cleaning services do not have a hard time finding clients.
Furthermore, many franchisors provide unique ownership opportunities to veterans. Veteran-owned franchises stand a chance of benefitting immensely from the public because members of the public are ever-ready to thank veterans for their sacrifice for the country. So, once you set up your cleaning business, make sure to make it known to the public that you’re a veteran-owned business.
- Start a Fitness Business
Keeping fit is a big part of being in the military, and once you’re done with service, the habit stays with you. As a veteran, you probably have enough personal fitness knowledge to run a gym. If you have a healthy, well-toned body, potential clients will be drawn to that. Leverage those skills and help people stay healthy while making a profit.
One thing to note when starting a fitness business is that you will have to tailor your training program to suit civilians. You may also have to learn some new fitness routines, such as yoga.
Funding is often one of the toughest challenges to starting this business but one could look out for business funding available to veterans in your area. If you have the funds available, look for owners of fitness businesses who want to sell and buy up an existing business. This way you save time and money and start making a profit way faster. However, if you decide to buy up an already existing business, you must first find out why the business is up for sale so that you do not end up with a liability. Alternatively, you can start a fitness franchise. You can reach out to potential clients through the internet by creating unique fliers, videos, and newsletters.
- Run a Security Firm
Since the crime rate and terrorism are on the rise, the demand for private security services is also increasing. Some traits picked up during military training are very useful in running a private security outfit, for instance, the ability to think on your feet. As a private security firm owner, many times you’ll need to quickly defuse high-risk situations and your military skills can help you do this excellently. Also if you do not mind working alone, this is the business for you.
One easy way to set up your private security firm is to cut a deal with bigger security firms or offer to provide services to businesses around you such as schools, malls, banks, and others. To begin your private security business, write a detailed business plan, and then find ways to fund the business. You can look out for small business loans for veterans.
Next, work on getting a government license. Once up and running, a good way to get your business out there is to set up a website and some social media presence. On your website, potential clients can request your services.
If you need to hire employees for your security firm, hire those with some military background or basic training and provide training to those that may need additional training.
- Sell Security Gadgets
Recent statistics show that since the pandemic, the retail industry has grown at an unprecedented rate. Millions of people all over the world earn a livelihood through retail. This gives a glimpse of what a vet might stand to gain from starting up a retail store for security gadgets; especially in recent times when the need for extra security has risen due to the increased crime rate.
To sell security gadgets successfully, you must have up-to-date knowledge on your products and stay updated with industry trends. You should be able to offer tips and advice on your products to the clients when requested. Before setting up your store, ensure you find out the requirement for setting up such a business in your area.