Military Veterans are well-behaved due to their training. They can work well under pressure, are disciplined, and are willing to take risks, so it’s no surprise that most of them thrive in business. There are many small business ideas that Vets can choose from. In the U.S., there are an estimated 2.52 million businesses that are majority-owned by Veterans. Unsurprisingly, these men and women are thriving as entrepreneurs and making a significant impact on the economy and their local communities by providing employment. In honor of those who have served and are seeking to upskill their life by trying something new, here are some top business ideas to choose from.
Small Business Ideas That You Can Try
Security Firm
This type of business has been thriving, especially with events, school activities, movie festivals, concerts, celebrities, politicians, and rich people who want to be safe. Veterans can capitalize on this small business idea, allowing them to showcase their skills, experience, and everything they’ve learned in the military. They just need to know a few adjustments and protocols, but as ex-military personnel, Vets will have great potential in this business.
Government Contracting
The government spends around $1 trillion worth of contracts yearly, making them the number one spender worldwide. They buy various products and avails services, such as vehicles, office supplies, and furniture. This is one of the good small business ideas if vets are in this kind of industry.
All they need to do is comply with numerous requirements, as the competition for bidding is tight, and there are no guarantees that they’ll get the contract.
To start the business, they need to register as a government contractor, which might take a while since it is a long process, and they’ll need to be updated on the latest rules and regulations. Once everything is settled, they may have many chances to make a bid.
Personal Trainer or Gym Owner
Former military personnel have the experience and knowledge needed to become a personal trainer. With all the rigorous physical fitness training that they have gone through, it is no surprise that they can excel in this field, as they understand the fundamentals of physical health. Also, Veterans have the advantage of using their experience to motivate or inspire their clients to achieve their goals in terms of fitness.
Aside from being personal trainers, Vets also have the option to open a gym since this area has yet to be saturated. They can choose from a 24-hour place, general gym, fighting-based gym, boxing, or MMA. The possibilities are endless.
Resto Bar Owner
Veterans are proficient at working under pressure and can use this skill to oversee a fast-paced environment.
Another edge they have is marketing the place as Veteran-owned, which can bring loyal customers that other businesses might not have. Also, most Vets tend to have the best bars, especially those who came back from deployment overseas.
Most of them create various beer options that other establishments may not have. Others invest in the vibe as they make the atmosphere with more personality, allowing people to be cozy.
IT Consulting
This is one of the best small business ideas that no one should miss since everything is being digitized these days. It is no surprise that many businesses are seeking advice on how to adapt to the new tech landscape. This is one of the reasons why IT consulting is considered a fast-growing industry. It may even expand further in a few years.
The only crucial thing that needs to be considered in this field would be the required engineering, computer science, or IT expertise. Thus, the company’s portfolio should be robust to provide quality consulting to clients.
Repair/Automotive Business
This industry has many opportunities for military Veterans looking to become successful entrepreneurs. Entering the automotive service is one way to start a small business. This can be attained even at a small place to make a quick income and get the profit rolling.
For those who are more invested in sales, having a few cars to sell would be a stepping stone to eventually growing the company into a huge one. Don’t forget to research the aspect of each venture. By doing this, Vets can feel more confident and secure when embarking on new business endeavors.
Firearms Trainer
One of the small business ideas that Vets will surely excel in is providing safety and firearms training. These are skills that would always go together with the armed forces. Veterans, having been exposed to various kinds of weapons daily, have developed skills in this field that civilians don’t have. Becoming a private safety trainer or even at a shooting range would be to their advantage, teaching civilians how to protect themselves in various situations or how to handle firearms safely.
With the right investment, resources, and support, these Veterans can be well established in their new role as business owners. However, they cannot do it alone. Continuous support is also needed for their business to grow and thrive.
Related reads:
- Check Out These Essential Resources for Veteran Business Owners
- A Veteran’s Guide to Getting a Small Business Certification
- What Small Business Loans for Veterans Are and How to Get One
Sources:
- Top Business Ideas for Veterans This Year | Benetrends Financial
- 21 Business Ideas for Military Veterans to Conquer [2024] (thebillionstories.com)
- Discover 14 Unique Small Business Ideas for Veterans (stepbystepbusiness.com)
- 15 Small Business Ideas for Military Veterans (asbn.com)
- 21 Awesome Veteran Business Ideas for 2024: Plus Resources, & More! (nichepursuits.com)