Running a family multi-unit franchise business can be incredibly rewarding but challenging, especially during the holiday season. When family members work together in a high-stress environment, conflicts can arise from differences in opinions, generational gaps, role ambiguity, or even personal issues that spill over into the workplace. However, conflicts need not be detrimental, especially [...]
Family-owned fuel dealers, wholesalers, propane marketers, and service contractors: The holiday season ushers in a unique blend of joy and introspection, particularly for businesses deeply rooted in family ties. Your enterprise isn't just a business; it's a family affair. You employ those connected by blood and those who've become integral parts of your extended [...]
The aspiration of many family business owners is to have their children become an integral part of their enterprise. However, merging familial ties with business operations often presents a complex dynamic that can be difficult to balance. The Two Faces of Family Business At first glance, the concept of a 'family business' seems contradictory. [...]
The Importance of Professionalism in Family-Owned Auto Dealerships In the current corporate landscape, family-owned enterprises are facing challenges as they vie for success against bigger conglomerates and nationally recognized brands. In the automotive industry, where consolidation is prevalent, family-owned dealerships are under significant strain to keep pace with their larger counterparts and stay relevant. [...]
A hornets’ nest or even a beehive from afar appears to buzz with activity. It’s quite interesting to watch nature in action, which ironically is very similar to families and working in a family business. There are roles each individual plays and a set of standard operating procedures that allow [...]
A successful family business can provide opportunities to all who are associated with the owners or viewed as family. History has proven, the odds of family business success through multiple generations dwindles with every ownership transition. However; where many family businesses have failed, there have also been many family businesses [...]
What do the Olsen twins, the Williams sisters, the Warner brothers, and the Wright brothers all have in common? They are all siblings able to succeed in creating a business together. Fundamentally, the success of any partnership, let alone a family business partnership, is ongoing work towards maintaining harmony inside the business relationship by [...]
The holidays can bring about a mixture of happy and sad emotions. Privately-owned businesses are unique in that your business is a family business. You may employ those related to you by blood and employ loyal people you have grown to care about beyond just dollars and cents. In a family business environment, mismatched expectations [...]
Successful family businesses have the power to provide for many lifestyles. Owner(s) and their families, key leaders and their families, employees, and the community it serves. Many owners have the vision to transfer out of daily operations and want the business to remain under family ownership. There are many strategies [...]
