It’s a family affair
A number of successful Caremark franchise owners have proved going into business with a family member can be the recipe for working success
When you think about it, a Caremark franchise network and a family working together in the same business are closely aligned – both partnerships require collaborative working, with a clear vision of the desired goal. In addition, there has to be complete honesty, trust and an ability for all parties to pull together to achieve the desired outcomes.
Within the successful Caremark network, there are several franchises that are owned and run by family members. As with other franchisors, Caremark recognises that franchises which are run by brothers, sisters or other family will have a vested interest in working together and supporting each other, when compared to un-related business partners, where perhaps the risk is higher of the business partnership turning sour. The benefit of a family unit is that enduring familial loyalty will often carry through the lean times as well as the moments of success.
As far as family members are concerned, working together in the business is sometimes a case of ‘better the devil you know’. All relationships in business have the possibility to go through sticky patches, whether familial or not, but with a loving, respectful family dynamic, the family run business has a great chance of growing from a solid base.
A franchise network has been likened to an extended family, with the franchisor as the parents – giving support and guidance when needed, and encouragement when times are challenging. Every Caremark franchise owner has the benefit of a solid support system behind them, available from experienced industry professionals at their central support office, as well as from designated Regional Support Managers out in the field.
Franchising, as a business option, is an attractive one, particularly in today’s economic climate, where going it alone carries significant risk. Families may have a great business idea and wish to work together but have insufficient commercial experience to risk going it alone. Pools of talent within a family make attractive prospects to a franchisor such as Caremark. The company selection process is careful, with only the best calibre of candidate being offered the business opportunity. For Caremark, there has to be equal measure of entrepreneurial flair and ambition, matched with passion and enthusiasm for the industry. Add to this, good communication skills and networking abilities and one has a candidate likely to capture Caremark’s interest.
Families who have worked successfully together in previous businesses make good prospects, as one can readily see a proven formula, giving the franchisor a clearer picture of the suitability of such candidates. From experience, Caremark recognises that people who know and like each other are more likely to work well together and achieve their goals.
Families looking for a great investment opportunity would be advised to investigate Caremark’s attractive offering; the competitive Franchise Fee and low monthly service fee are just two factors capturing potential investors’ attention in this expanding market.
At the end of the day, a quality product with a competitive price will always draw people to research the opportunity further. Caremark can offer just that and whether the candidates are brothers, sisters or cousins – if the right people with the right qualities show interest in the opportunity, the likelihood is another family will be successful in joining the ‘Caremark family.
Written by Mary Wardell