The UPS Store has special incentive programs to support veteran franchise ownership.
After retiring or being discharged from the military, many service members find themselves wondering what’s next. In fact, almost 90 percent of veterans start a second career after leaving the military. Settling into a satisfying profession is a major step in transitioning back into civilian life. According to a survey conducted by The UPS Store, almost two-thirds of service members consider business ownership. This is not surprising, as the skills, values and experiences of veterans make them uniquely suited to own their own business.
There are a variety of startup resources available for veterans who want to become business owners. This includes access to multiple organizations and networking channels to help obtain funding, business training and certifications. The UPS Store is proud to provide further support by offering incentives to make veteran franchise ownership more affordable.
Mission: Veteran Entrepreneurship
The UPS Store offers two veteran entrepreneurship programs designed to help qualified U.S. military veterans open their own The UPS Store franchise location.
The UPS Store is a proud founding member of the International Franchise Association (IFA) VetFran program. Established in 1991 as a strategic initiative of IFA, VetFran includes over 600 member companies offering financial incentives, education and support to veterans interested in franchise ownership.
Through the VetFran program, qualifying veterans receive $10,000 off the franchise fee for opening a new The UPS Store location and 50 percent off the initial application fee. It’s our way of saying thank you to veterans for their service to our country. Within The UPS Store network, there are 223 veteran franchise owners operating over 400 The UPS Store locations who have utilized the VetFran program.
Ashwin Narayan, owner of two The UPS Store locations in Ohio says, “I’m retired Air Force. I was medically retired after 10 and a half years of service. When I got out of there, I said, what am I going to do with myself? You know, I have all these skills, but I don't know what I want to do. I have the skills to lead people, but I don't have the business skills, and the franchise model has the systems in place to teach me. I looked at about five different franchises, and The UPS Store was the one that just seemed to me like they had their ducks in a row.”
Navy veteran and fellow retail store owner George agrees, “My advice to people getting out of the military is simple: I wish I had known about this program when I got out.”
The UPS Store truly is a worthwhile investment, ranked as a top franchise for veterans by Entrepreneur magazine.We have also been ranked #1 in the postal and business services category for 31 consecutive years and have remained in the top 5 overall Franchise 500 ranking for five years straight.
Veterans Franchise Give-Away Program
The UPS Store veterans franchise give-away program takes our appreciation for troops past and present to the next level. Launched in 2019, the program salutes veterans with nearly $300,000 in incentives by providing significant savings for 10 eligible veterans who submit a completed buyer’s application packet. Each selected veteran is awarded $29,950 in waived franchise fees to get their retail store up and running. The program runs from May to November and recently wrapped up its third year. To date, 34 veterans have taken advantage of the program to open their own The UPS Store franchise.
How to Start a The UPS Store Franchise
The UPS Store offers 40 years of franchising experience, a proven business model and well-defined operational procedures all backed by a nationally renowned brand name. We’re committed to helping all our retail owners achieve success. From our award-winning comprehensive training program to ongoing support, collaboration and camaraderie with fellow retail owners, our franchisees are never in business alone. We’re there every step of the way.
The UPS Store makes it easy to get started with our simple four step franchise approval process.
- Inquiry – Attend a national webinar to learn more about the business opportunity and value The UPS Store provides to franchisees and their communities. We offer a variety of location types from traditional to rural to non-traditionaland store in store centers that allow owners to tailor their retail store to best meet the needs of their communities.
- Application – Submit an application and financial documentation, review the FDD and interview with our team before making a final decision on the investment. Perform due diligence, conduct thorough research and talk to current owners in the franchise network.
- Funding – Once approved, candidates sign a letter indicating their formal intent to pursue owning a The UPS Store franchise and pay the initial application fee. This one-time upfront fee grants the right to use The UPS Store trademarks, name and related business systems.
- Booking – Complete any necessary financing, sign the franchise agreement and property lease and complete training. In addition to The UPS Store veteran incentives, there are a variety of flexible franchise financing optionsavailable for qualified franchisees through our partnership with Guidant Financial.
Now is a good time to open a franchise business thanks to reduced competition, availability of prime real estate and increased access to capital. The foundational strength provided by the franchise business model combined with the essential nature of the postal and business services category makes The UPS Store a great choice for opening a franchise business.
Navy veteran Jimmy Ochoa opened his The UPS Store location in Bensenville, IL during the height of the pandemic after noticing his community lacked the services that The UPS Store provides. Although it was challenging to create market awareness for his store amidst the lockdown, he got the word out by raffling off gift cards, supporting other local small businesses, which in turn was helping his entire community persevere through trying times.
Owning a The UPS Store can be a very rewarding experience by enabling veterans to apply the skills honed serving our country to serve the communities they call home. To learn more about The UPS Store franchise opportunities, check out our upcoming webinars or reach out to our franchise development team.