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Franchising for the Family

Franchising for the family-1

 

Franchising lends itself well to families wanting to go into business together, although they must all be pulling in the same direction and be competent enough for a family-run franchise to be a success.


With everything at stake, particularly if both of the main breadwinners in the family are involved, it is essential that the business does not fail. The structure of franchising is benefical in this regard. The foundation of an established business structure and branding can help families to build up a client base quickly, and they can take advantage of the franchisor's marketing strategies. Another important factor is the training offered. 


Franchising for the family-2Having family members as staff can be very useful if the franchise is run in the correct way. They will be fiercely committed to making the business succeed, as they all have a stake in the profits or losses made. If everyone helps out with administrative, sales and organizational tasks then the business will be much more productive.


The strengths and weaknesses of each family member will be well known and so their best roles can be sorted out in a short time. Personal issues between family members must not hamper the working environment and so any problems must be cleared up before taking on the franchise.


It is important that every member of the team has a clear, defined role for them to work to so that the business can function like any other and whoever is in charge must be firm with their co-workers and discipline them when appropriate in order to maintain standards.

 

Family franchisees must also recognize that while bringing younger members of the family into the franchise will keep it going in the same way when the older members retire, they will first need to be approved by the franchisor. Therefore, parents or aunts and uncles must be confident that the younger members have what it takes to continue the progress of the business.

 

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