FOR IMMEDIATE RELEASE

Contact:
Jenna Weisbord, 202-662-0766
jweisbord@franchise.org
@franchising411

(WASHINGTON, D.C.) [MAY 25, 2018] – The International Franchise Association (IFA) today announced its support for the Veteran Entrepreneurs Act, introduced by U.S. Senator Bob Casey (D-Pa.).

The Veteran Entrepreneurs Act would provide veterans with a 25 percent tax credit on the initial franchise fee, which the prospective veteran franchisee can elect to pass to the franchisor in exchange for a discount of equivalent value up front. These measures ensure that the benefit of the tax credit is received directly by the veteran franchisee, lightening the financial burden of starting his or her own business.

“Franchise businesses are a viable path toward small business ownership for thousands of our veterans,” said IFA’s Senior Vice President of Government Relations & Public Affairs Matt Haller. “Across the country, 14 percent of the 733,000 franchise establishments are veteran-owned. The Veteran Entrepreneurs Act is an important bill that can facilitate new opportunities for men and women who have served our country. We appreciate Senator Casey’s leadership on this legislation.” 

In 1991 IFA founded VetFran®, a program to support veterans and their spouses’ ability to access franchise opportunities through education on the franchise industry, financial assistance, and industry mentorship. To date, over 650 franchise brands voluntarily offer financial discounts, mentorship, and training for aspiring veteran franchisees and veterans seeking employment. For more information, click here. 

About the International Franchise Association

Celebrating 56 years of excellence, education, and advocacy, the International Franchise Association is the world’s oldest and largest organization representing franchising worldwide. IFA works through its government relations and public policy, media relations and educational programs to protect, enhance and promote franchising and the more than 733,000 franchise establishments that support nearly 7.6 million direct jobs, $674.3 billion of economic output for the U.S. economy and 2.5 percent of the Gross Domestic Product (GDP). IFA members include franchise companies in over 300 different business format categories, individual franchisees, and companies that support the industry in marketing, law, technology and business development.

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