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New IFA Program Launched by Little Caesars
PURPOSE
To provide honorably discharged veterans with a business opportunity when they transition to civilian life or seek a career change, and thank them for the sacrifices they and their families made for our country.
Little Caesars is looking for veterans with integrity and character who take initiative, utilize a teamwork management style and have a strong personal commitment to the business. A Little Caesars franchise can provide business owners with the opportunity to become leaders in the communities they serve, maximize their potential and realize a strong sense of accomplishment by achieving goals and growing their business .
Qualified Service-Disabled Veterans
Eligibility:
Any honorably discharged, service-disabled veteran who meets the requirements of CVE and Little Caesars. Candidates must show a letter of rating from the VA. This program was created to offer business opportunities to veterans who find themselves at a crossroads either when transitioning to civilian life, or seeking a career change. Existing Little Caesars franchisees are not eligible for this program.
Benefit Value:
Approximately $68,000
Franchise Fee: $20,000 credit off the franchise fee for the first store |
Equipment: $10,000 credit toward initial equipment for the first store (all equipment must be purchased from Blue Line Food service Distribution to receive credit).
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Financing: Qualified candidates meeting Little Caesar’s & Crossroads Financial’s qualifications will receive:
• Preferred status on credit and financial qualifications for loan approval
• Low fixed rates with interest rates below market
• Favorable repayment terms with 6-12 months of low payments while the site is under construction
• Consideration for structuring loan with balloon payment of 10-20 percent to further lower cash flow outlays and extend financing terms (if needed)
• Up to 100 percent financing of the remaining balance after applying any credits and benefits extended to the candidate by Little Caesars and supporting sponsors
• No advanced payments required at the time of loan closing
• Financing benefit can be approximately $20,000 |
Marketing:
• $18,000 credit towards initial marketing materials
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• Free Grand Opening publicity support (first 60 days) including implementation of publicity plan, pre-planning and communication with franchisee, press releases to local media, follow-up contact with local media, and publicity summary to franchisees.
Recruitment:
One free “On Site” flexible internet posting for employee recruitment for one year.
Beverages:
Free “first filling” of the restaurant beverage cooler. This benefit does not apply to fountain beverages.
All Qualified Veterans
Eligibility:
Any honorably discharged veteran who meets the requirements of the CVE, M4L and Little Caesars. This program was created to offer business opportunities to veterans who find themselves at the crossroads either when transitioning to civilian life, or seeking a career change. Existing Little Caesars franchisees are not eligible for this program.
Benefit Value:
Value approximately $10,000
Franchise Fee:
$5,000 credit toward the franchise fee for the first store
Equipment: $5,000 credit towards initial equipment for the first store (all equipment must be purchased from Blue Line Food service Distribution to receive credit)
Financing:
Qualified candidates meeting Little Caesars’ & Crossroads Financial’s qualifications will receive:
• Preferred status on credit and financial qualifications for loan approval
• Potential reduction of advance payments
Some Requirements
- Have a DD214 for Veterans Tier
- VA Rating Letter or DD214 stating disability for Service-Disabled Veterans Tier
- $50,000 in liquid, unencumbered assets
- $150,000 net worth (Assets – Liabilities)
- Maintain 51% ownership
- Decide on geographic interest
For more information contact The Center for Veterans Enterprise at 866-584-2344 or email us at VACVE@va.gov.
Link to Little Caesars Veterans Program Web Page
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