Families in franchising
Working alongside family members everyday may fill some people with dread, however as the families in this edition prove family owned and operated businesses can lead to success.
Franchisors are often keen to recruit franchise owners who are looking to run their franchise as a family run business as couples often share the workload and bring complementing skills to their business. Some franchisors even actively recruit those looking to own and operate their business as families, such as Dream Doors which has about 80 per cent of its franchises as family run businesses.
It is not just within the franchise industry that family owned businesses are popular. The Business Link published statistics last year that showed 60 per cent of the UK's small to medium sized enterprises (SMEs) are owned and operated by families.
One of the main reasons the majority of franchise owners interviewed in this section chose to go into business with family members is because they viewed relatives as the people they could trust the most. Also running a family business provides franchise owners with a personal support structure they would not have otherwise and they were confident that each member would put their full effort into making the business a success.
For some running a family business is neither desirable or practical, however, for the right family it can prove the best way to owning and operating a successful franchise.