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09 Sep 2014FRANCHISING: Franchising and Family Tip Box
Recent Western Cape Business News
Business is Business – Keep it professional
It’s important to run your business like a business and not like a family. Franchising as a business concept is very successful, so run it like a business and not how you run your family. The structure of franchising is beneficial because the foundation of an established business structure and branding can help families to build up a client base quickly, and they can take advantage of the franchisor's marketing strategies.
Family members as employees
Having family members as employees can be very useful if the franchise is run in the correct way. They will be fiercely committed to making the business succeed, as they all have a stake in the profits or losses made. If everyone helps out with administrative, sales and organisational tasks then the business will be productive.
Use known strengths and weaknesses
The strengths and weaknesses of each family member will be well known - so their best roles can be sorted out in a short time.
Don’t let family issues get in the way
Personal issues between family members must not hamper the working environment and problems should be cleared up before taking on the franchise.
Stick to your role
The general trend in most families is that everyone likes sticking their noses into everyone else’s business. This is not conducive to a successful working and professional environment. Everyone should know, understand and stick to their roles.
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