Dream Vacations has just become the first travel franchise brand to earn a designation of five stars for its veteran franchise opportunities from the VetFran program, an International Franchise Association Franchise Education and Research Foundation initiative aimed at providing opportunities in the franchise industry to veterans and their spouses.
Currently, a military veteran who purchases a travel franchise business from the brand receives an enlistment package that is valued at a minimum of $5,000, and they can choose one of three perks: an administrative fee waiver valued at $1,350; a $1,000 credit for marketing, or a maximum of $7,000 back based on sales figures via the "Earn Back" promotion. Veterans also receive 20 percent off of the initial fee, a waiver of the training fee for a business partner, marketing materials that are veteran-themed, and the ability to hire other veterans and active-duty spouses as employees at a discount.
This award-winning travel franchise also has other incentives for veterans, including the ability to change residences and stay in business, discounts for military clients, veteran travel insurance discounts from LeisureCare Travel Insurance, and access to networking groups of other veterans. They can also win a Dream Vacations franchise via the "Operation Vetrepreneur: Become Your Own General" contest, which is now in its sixth year.
The three-tier system STAR system VetFran uses to identify the best opportunities in franchising for veterans is inspired by the military star system for admirals and generals. The program has eight criteria in total, and five-star designations are only earned by those who can meet all eight listed below.
- Clean audit report results
- A discount of 20 percent or more for veterans
- In business for at least five years and as a franchiser for at least three years
- A continuity rate of no less than 80 percent
- A Franchise Disclosure Document with Item 19 included (financial performance)
- Have at least 50 units
- Take part in one VetFran event annually
- Have at least one Certified Franchise Executive on staff
Dream Vacations Senior Vice President Debbie Fiorino said the CruiseOne company is honored to be recognized by VetFran. She also noted that it is the contributions of veterans to the protection of freedom that allows people in the US to go after their American Dream of owning a business.
This is not the first time the travel franchise business has been honored for its veteran incentives. It also received a number one ranking on the "Best for Vets: Franchises" list by Military Times and was named a "Top 10 Military Friendly Franchise" by Forbes Magazine. The initial franchise fee for this veteran-friendly brand is $9,800, with financing available for those who qualify.