In The News
Families turn to franchises to start their own family business legacy
Mar 13, 2012
FranNet has helped thousands of families start their own business
Families start their own business legacies through FranNet
Family-owned businesses are part of America’s fabric, and FranNet is happy to help make them a reality.
Many entrepreneurs who set out to launch their own careers hope to eventually bring their children into the business. Of the tens of thousands of franchisees that FranNet has helped get started, about one in four have involved people who wanted to run a family business or hire their children. We help about 100 family businesses get off the ground every year.
“Are there four better words than ‘family owned and operated?’” says FranNet President and COO Jania Bailey. “It’s wonderful for people to be able to work alongside their family members and share in one another’s success.”
It’s an especially good tool now.
The still-staggering economy has made it hard for young adults to find jobs — the unemployment rate for those 24 and younger was 16.7 percent in November, according to The Wall Street Journal. The recession also cost a lot of skilled managers and executives their corporate positions, making franchising an attractive solution for both generations.
We recently profiled four families who started businesses with FranNet’s help and are now creating their own financial successes: A father-son team that runs a child education franchise in Nashville; a son whose parents helped him open a custom T-shirt franchise in Marietta, Ga.; a husband-wife team that owns a T-shirt franchise in Snellville, Ga.; and a corporate retiree who now owns a leather and upholstery repair shop with his son in Milledgeville, Ga.
FranNet consultants can help families identify businesses that match their skills and passions and can provide guidance to help ensure their franchises succeed.
For Diane Langford of Macomb, MI, it turned out to be a home improvement franchise that their 25-year-old son Randy operates. Like a lot of other young adults, his employment prospects had been grim.
“We still have 10 to 15 years of working left and our son, who recently graduated with a history degree, had few career options,” Langford says. “Buying a franchise gave us a less risky way to start a family business and allowed us to help our son.”
Randy is his own boss, and his parents have a second source of income thanks to the business.
We have 25 years years worth of these success stories to share. If you’d like to hear how we can help your family, see http://www.frannet.com.
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