When you are your own business owner, you have the opportunity to build something great for yourself, as well as leave a legacy for your family. Many franchisees love to include their family members in their work and pass on the business to siblings, children, grandchildren, nieces, nephews, and other loved ones. If you dream of working alongside someone you care about, someone you can share your successes with, then it’s time to make your franchise into a family business. There are a few different ways that you can do this:
1. Invest together
If you know from the outset that you want to build a family enterprise, you can pool your resources for the initial franchise investment. Whether that is combining cash, or signing business loan documents together, this is an easy way to establish a partnership for the long haul. We see this happen with siblings, spouses, parents and children, and more.
2. Give kids their first work experience
If you have children, this can be an easy way to pass on your business and getting them involved early is key. As they grow up, they will see your entrepreneurial spirit, and the exciting parts of what you do. Then, when they’re old enough bring them on board officially giving them a great initial job experience. They’ll learn priceless business skills and competence, making it easy to make them an official partner or sell them your franchise down the road.
3. Build a family franchise network
When you have several members of a family that are passionate about the same things, or want to get in on the same benefits, but perhaps live in different locations, it’s possible to each own a part of the same brand. If you open a DecoArmor Designs franchise in your town, and your brother does the same in his town, you can both learn from one another and support each other along the way.
It’s easy to make your franchise into a family affair, and we welcome this level of commitment! Get in touch today if you want to learn more about our current business opportunities at DecoArmor Designs!