FAQ: Veterans

FREQUENTLY ASKED QUESTIONS: VETERANS

Does TJP work with Veterans who want to open their own businesses regardless of their location in the continental U.S.?

TJP will work with Veterans throughout the continental U.S., but not every Veteran will qualify for services through TJP.  In order for TJP to service individual business start-ups, the Veteran must have a computer with the capacity to video chat.

If I am an honorably discharged U.S. Veteran, how will I know if I qualify for services through TJP?

  1. The Veteran must verify they are a U.S. Veteran.
  2. Verify they were honorably discharged.
  3. Verify they have knowledge in the field of business they are going into and/or have transferable skills.
  4. Must have completed a business plan.
  5. Must pass an extensive Volunteer Task Force interview with TJP.
  6. Must be willing to accept mentoring and guidance for their business over the first 2 years and give back to TJP for future Veteran Owned Businesses (VOB) once they become a financially successful business.
  7. Must be willing to dedicate the necessary time to the business in order to ensure success.
  8. Must have a viable small business idea.
  9. Must demonstrate a passion and willful desire to make their business idea a success.
  10. The business idea must be a benefit to the region or geographic area in which it will exist.

How do I get started?

TJP has an on-line application for the Veteran to complete and submit.  Each application must be accompanied by a business plan.  Each business plan will be reviewed for content, business relevancy, and details.  If the business plan passes the first round, then a TJP Volunteer Task Force will be assigned to interview the Veteran either face-to-face, or on-line.  A decision is then made, at a later time, and the Veteran is notified.

Who makes up the Volunteer Task Force (VTF)?

The Volunteer Task Force, VTF, is comprised of business executives preferably located within the Veterans geographic area who understand the intricacies of start-ups, have a demonstrated track record in business, and who can evaluate the economic soundness of the industry in which the Veteran is requesting services.

What if I am the spouse of a Veteran, will TJP help me to open my own business?

TJP’s mission statement is “Growing Veteran Owned Business Opportunities through Collaboration, not Duplication.”  Although we realize the very important role that a spouse or partner plays in the lives of our military, at this time TJP, being a private non-profit, has limited resources, and will only be able to work with honorably discharged U.S. Veterans.

What will TJP offer if I qualify for their services?

TJP will offer an array of services to the Veteran business owner according to the needs of the VOB. Services might include:

  1. Initial funding not to exceed a specified limit.
  2. Incubator/Shared costs (If participating in incubator and space is available)
  3. Telephone, office equipment/Shared (If participating in the incubator and space is available)
  4. Administrative Assistant/Shared (If participating in the incubator and space is available)
  5. Staff Generalist to provide consistency in Quality of Service to the VOB
  6. Web/Internet Design assistance.
  7. Leasing/Rental assistance for a Business location if it is not Home-Based or located in the incubator.
  8. Human Resource Consulting
  9. Management Consulting
    1. Legal Consulting
    2. Accounting Consulting
    3. Business Tax Advise
    4. Industry Specific Mentors
    5. Marketing Assistance
    6. Insurance Assistance

How long will TJP help my business? 

Once you are accepted into TJP we will always be there for you.  However, for the first 2 years of your business, you will be completely under the TJP wing working with Mentors and staff. After 2 years TJP can be a resource for future expansion. Once you join the TJP family you will always be a valued member.

What if I no longer want help?

If at any time you choose to leave TJP during the first 2 years of your new business, you may be required to immediately pay back any monetary investment that TJP has made on your behalf.

Are the services free of charge?

Yes and no. Depending on the level of services requested, such as the use of the incubator – which will have some costs related to the VOB involved, such as shared office supplies and Administrative Assistant, or other direct costs that would need to be paid by the VOB. TJP personnel services are free of charge to the Veteran.

The only fee you will be charged is the pay back of TJP’s investment in your company.  The payback is anticipated to begin in the 3rd year of your business’ life.  There is no interest attached to the payback, and each payback schedule is individually designed to fit into the finances of your business.

TJP also strongly encourages each VOB to consider hiring other Veterans when more staff is needed to expand your business.

If I am a Veteran with an already existing business, will TJP help me if I need assistance?

TJP would be happy to provide mentoring services in your areas of need at no charge to you or your business. Financial assistance is targeted for selected start-ups only.

If I want to buy into a franchise, will TJP help to provide funding?

Franchises are usually set up with a strict set of guidelines that the franchisee must follow, and TJP’s services may be considered as intrusive; therefore, TJP has chosen not to support franchises.

Will TJP assist me in forming a non-profit organization?

TJP is focusing on revenue generating, for-profit businesses only.

What else do I need to know?

TJP will require a release allowing TJP to use your picture and story for marketing purposes and to solicit money from supporters of TJP.

I have two incredible business ideas, will TJP sponsor both, or am I limited to one business idea only?

TJP is excited to work with imaginative and inventive individuals, but our rule-of-thumb is ONE business at a time.  If after two years your first business is up and generating a profit, you can be considered for a second business line.  TJP resources are limited and we want to serve several Veterans for the first time, so a great deal will depend on a viable business plan and available resources for the second business line.

In the Veteran requirements it states the business must be beneficial to the respective region, would it be applicable if it were available to the entire US?

Wow, we love big thinkers.  TJP’s main concern in being beneficial to the respective region is both environmental and duplication.  We will not support a business that can potentially harm the environment, and we will not support a business that already exists and caters to the same customer base of those businesses.

The Veteran Task Force will review all potential business plans that are submitted, but they can only choose the best of the best.

Can the start-up be an online business?

Absolutely it can be an online business.  Again, it all depends on how your business plan is laid out, your monetary expectations, what you will be doing online, will you need to carry any kind of inventory…and the list goes on.

 

 

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