Tag Archives: work fun

Family Franchise Businesses

More and more the trend nowadays is for a family to come together to make a business work.

Through a survey I did towards the end of 2009  – I’ve found that the growing trend is that people are pushed out of employment and into self-employment for a variety of reasons. Some of these are:

1) Dissatisfaction with the quality of management within their current job

2) No incentive provided in the workplace for any initiative or true involvement in the business (in fact any ideas are squashed before they are even heard), and most of all…

3) No real financial reward (vs the time and effort put into the job) that matches expectation (this includes time in lieu of many hours of overtime above and beyond the call of duty).

So, what does this mean? Well, you will probably be so unhappy that your family around you may well say ‘Hey, why don’t we just do something for ourselves?’. This is why franchising then becomes an attractive idea – because:

  • There is a lower risk at start-up (especially with established franchise models with proven statistics and performance from current franchisees)
  • Any money invested upfront is going towards business support, set-up etc – and this has all been worked out for you
  • Working with people you know and trust (your family) helps to eliminate the worry of employing unreliable staff

Now, of course, we could have a whole discussion on the dangers of going into business with family – but there are more than enough families out there making a go of it than you think!

The top tips for making a family run franchise business work?

  • Everyone needs to have their own roles very clear from the outset
  • Someone is elected as the Boss (end of story)
  • Someone is elected as the Organised One (every business needs one of these) – to whom everyone needs to listen to in order to be efficient and cost effective
  • Someone is elected as the Finance Person (every business needs one of these – this maybe outside of the business)
  • Everyone needs to be earning a salary (or at least agree what that WILL be in the future…give a date…if there is a consensus to hold off for the first few months)
  • A Team meeting needs to happen at least every two weeks to have a talk around the table to clear any issues, or PAT anyone on the back for a job well done

Respect who you are working with and they will respect you – this goes DOUBLE for family run businesses. Mom, Dad, Daughter, Son, Aunty, Uncle….those titles are not relevant during the work day.

Have you had any experiences working in family-run business? Please do let me know about it in the comments box below! I want to hear good and bad stories!

Entrepreneur Junkie

Wow – I am just brilling with it all today. I listened to a couple of tele-classes this week to really get my business juices following and I tell you I am ready to take on the world in March.

Do you make sure that you are flying with Eagles, or do you find that you are pecking on the ground with the turkeys! I made a significant choice this last week to stop wasting my time with the turkeys and value my time more as a business person and as an entrepreneur. I am in search of more ‘Trains’ I can hop on to – i.e. more people that will push me and motivate me into the sphere I aspire to be in. Time is of the essence and only you can make the choice not to spend it on dribbling outside the fishbowl….I want to swim with the sharks! Do you know of someone I should be following? Tweet me and tell me.

So, I thought I would post a clip that you may find useful to maybe give you a kick up the bottom today! Ken Blanchard is another of my Eagle Guru’s. Check it out and let me know what you think – if you want! Don’t forget I am on Twitter too and my favourites who I follow at the moment are: @guykawasaki; @davos; @yaniksilver; @jennyflintoft; @bernadettedoyle and @barefoot_exec.

Click on this -> Ken Blanchard Vid for that kick up the butt you ordered 🙂