family-business-succession-planning

As winter’s chill sets in and festive lights twinkle, the holiday season adds warmth and cheer to families worldwide. Yet, family-run multi-unit franchisee businesses also bring professional stress into personal relationships.

Imagine a scene straight out of a Hallmark movie—a classic family gathering with laughter, the scent of holiday cooking, and nostalgic memories. But beneath the festive surface, unresolved business tensions can simmer, disrupting the joy of the season.

Balancing familial love and business duties during the holidays becomes a tightrope walk. Understanding and managing conflicts is crucial for maintaining business efficiency and family harmony.

1. Understanding the conflict:

Family disputes can arise from sibling rivalries, professional disagreements, or uncertainty about the business’s future. For example, clashes over adopting new tech versus sticking to tradition may disrupt family dinners.

2. Open communication:

Effective conflict management starts with open dialogue. Find a neutral spot like your favorite breakfast diner, away from the office and the family dinner table, to engage in complex discussions.

3. Establish boundaries:

Clear separation between business and personal life is crucial. Implement a rule like “no business talk at the dinner table” to keep gatherings focused on family.

4. Seek external guidance:

Bring a seasoned succession planner or family therapist for a fresh perspective, mediating discussions without personal biases.

5. Cultivate a respectful culture:

Acknowledge each member’s achievements, fostering a supportive environment.

6. Align with shared goals:

Remind everyone of the common objective—the success of the business and the family’s well-being. Share stories of past successes or overcoming challenges during family gatherings to reinforce unity.

As the holiday season ends, the lessons of navigating conflicts endure. Challenges are not just seasonal obstacles but opportunities for growth. By embracing open communication, establishing boundaries, seeking guidance, fostering respect, and aligning with shared goals, multi-unit franchise family businesses can turn potential conflicts into platforms for strengthening bonds. The true spirit of the holidays in a family business lies in celebrations and enduring harmony long after the season ends.

Contact Us, and we can help you with insights and other resources and see if it makes sense to work together. At the very least, in 30 minutes, you may get some ideas to apply to your business immediately.

The article was initially published on Franchising.com: 6 Tips for Holiday Harmony.

For more insight:

Visit the “Multi-Unit & Multi-Brand Franchise Ownership Strategies” discussion page or select one of the additional episodes of the series below:

Resources

  • West Coast Franchise Law: Serving multi-unit, quick-serve restaurant franchisees nationwide and their franchise, leasing, and business law needs. For more information on West Coast Franchise Law services, contact Nate Riordan.
  • Succession Readiness Survey:  A 7-minute investment in time will put you in an informed position of opportunities many business owners overlook, impacting business value, growth, and lifestyle and ultimately achieving your vision.
  • Contact a Succession Planner: The Rawls Group can help you with insights and other resources and see if it makes sense to work together. At the very least, in 30 minutes, you may get some ideas to apply to your business immediately.



Family Dynamics and Family Governance

Family and Business alignment is hard to find when business issues liven up family dynamics.

However; with proper process, governance policies, and mutual respect built over time, a Family Business can thrive through multiple generations. Click the following links for more drill-down resources on  Family Dynamics and Family Governance.

Sign up for our monthly e-newsletter to stay informed on how to overcome related succession planning issues.

We can help you with insights, other resources, and see if it makes sense to work together. At the very least, in 30 minutes, you may get some ideas you can apply to your business right away.