Thinking about starting a business "flipping" garages...think along the lines of garage rehabs. I have the basics of the business plan finished. I would like to hire struggling veterans and train them on the nuances of epoxy flooring, etc. I'm not sure if I could get a 501 (c) (3) status by solely hiring veterans. Any/all insight is appreciated. Thanks!
Answers
I see you are in San Antonio. The local Small Business Administration has a Reboot: Boots to Business Program for veterans. Lionel “Leo” Davila is the Lender Relations Specialist who brought their workshop to our office in August. Try contacting him to see if he can provide more guidance: 210-403-5917, Lionel.davila@sab.gov. Tell him Jackie Contreras at the Goodwill Veterans Resource and Career Center sent you.
Hi William,
Can you explain better what the point is for operating as a non-profit ? Sounds like this would be a better for-profit venture.
Hiring any population segment does not qualify as a justification for c-3 status, including veterans.
https://en.wikipedia.org/wiki/501(c)_organization
Why is it you want to run this as a non-profit ? You are unclear as to the motive for this choice. You would be better off helping veterans by showing them how to turn a profit, manage risk, penetrate the market.
JG
Hi William,
I agree that a non-profit may not be the way to go. If you do go that route, be aware of the requirements before during and after you open for business. There is noting wrong with helping vets AND making a profit. The more profit you make, the more vets you can help.
Be sure to spend quality time on finding the fit between your product/service and your intended customers. A great product marketed toward the wrong customer = a failed business.
I would be happy to discuss any questions you might have, further. Shoot me an email at brian@VetLaunched.com. I have attended and will be giving the Reboot course by the SBA.
Brian Richardson
www.VetLaunched.com
Thank you, Jacqueline Contreras. I will contact Lionel “Leo” Davila this week. Again, thanks for responding and service America's Heroes!
Thanks, John. By hiring "struggling" veterans I thought i could find a win-win. I would be able to gain an advantage in the market while "struggling" veterans would learn a trade and gain employment. My intent was altruistic. If I decided to pursue this plan (hiring veterans) I believe it will have to be a for profit venture. I sincerely appreciate your time. Bill
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