UPS Store Waives Franchise Fees For 10 Veterans
UPS Store, in a move to support IFA’s “Operation Enduring Opportunity”, announced in BizJournals.com, that it will waive franchise fees for ten first-time veteran franchisees. This amounts to $300,000 in financial incentives. Prospective franchisees should sign a Letter of Intent between January and June 2012, said Tim Davis, a former U.S. Marine and now UPS Store Vice President of Operations.
The UPS Store wants to enlist 10 military veterans to open locations as part of an Obama administration effort to get more vets into jobs.
The UPS Store’s franchise network reported Thursday $300,000 in financial incentives to help up to 10 qualified U.S. military veterans open their own locations.
Tim Davis, vice president of operations for The UPS Store franchise network and a former U.S. Marine, said the franchise fee of $29,950 will be waived for up to 10 qualified veterans who are first-timewishing to open a new location. The incentive is valid for prospective who sign a letter of intent between Jan. 1, and June 30, 2012.
After that time, qualified veterans who join The UPS Store will continue to receive the franchised network’s standard VetFran incentive
UPS Store’s move is part of “Operation Enduring Opportunity,” an initiative by the White House, the International Franchise Association, the U.S. Chamber of Commerce and franchisers including Mail Boxes Etc. Inc. The goal is to recruit and/or hire as many as 75,000 military veterans and their family members by the end of 2014.
“Veteran unemployment rates of 11.7 percent — 22 percent for veterans under 25 years-old — are undeserved among the men and women who have honorably served to help keep our nation free,” Davis said. “’Operation Enduring Opportunity’ will help as many as 75,000 veterans and their family members find new career paths in, provide them with great jobs and help boost our nation’s economy.”
The UPS Store, a unit of Atlanta-based United Parcel Service Inc.
Photo by Mr. T in DC