Prepping Your Family for Business Ownership

family man

As you prep yourself to become a business owner, there are many areas you're considering to ready for your upcoming life changes. From finances, to schedule changes, to workload, to available hours for personal outings, in your first few months as a franchisee, you will see many changes come through. Over time, of course, these same changes will settle and relax, all while you develop a routine. But initially, franchising will take a lifestyle overhaul so you can prep and dedicate yourself as a determined franchisee.

This is something to celebrate!

However, it's important to remember that you aren't the only one making lifestyle changes. Your friends and family members will be making similar adjustments as you take on this career journey. It's important to inform and prep them before you begin your franchising process so you not only have their support, but their help throughout the most stressful transition phases. Of course, this is a period that's short lived for all, but the more prep work you can put in with family members in tow, the more smoothly it can flow for all.

Readying Family Members for Franchising

Before you ever sign on with a franchising brand, you should have a discussion with those closest to you about what it will mean for them. While, in the long run it's a growing benefit and can pass on mounting joy. But there might be a period where schedules have to be accommodated for and deadlines met.

This is short lived, and the good news is that they, too will reap the rewards of your business ownership. They'll get your flexible schedule, your happier mood for getting to work your dream career, your ability for higher incomes, and more.

Talk with your significant other, as well as any close family members about your goals and what they might mean for them. How will they be affected? Is this a family operation or one you'll take on solo? Lay down the facts and let them know it's a group decision, whether or not they'll actually be involved in the franchise workload. Getting this type of support can help create personal success that's needed to be a great franchise owner in years to come. It also ensures that those who are closest to you agree with and are behind your career changes, including how it will affect them in months and years to come.

Before You Take the Franchising Plunge

It's a good idea to prep your finances or make a set plan wherein another family member can take care of the logistics. Set up bills to pay automatically, pay in advance (if possible), or simply put someone else in charge of ensuring this will be paid. Theoretically, you should prep to remove yourself from as many personal responsibilities for as possible … for several weeks to a few months. Doing this work up front will allow you to focus solely on the franchise business, without distractions slowing down your progress. This is not to say you'll need all your time for the franchise, but simply that your plate will be cleared, allowing you to devote your all to opening the upcoming business.

If you have transportation responsibilities with kids or pets, arrange alternatives with friends and family members. Look toward easy prep meals, such as frozen bake-later dinners, consider services like grocery pickup or delivery, and more. Essentially, you're looking to make life as simple as possible … and who knows, you might pick up some tactics that stick!

Initial Stages as a Franchisee

Overall, the most important step is getting your crew's support and approval. In some form or another, you'll need their emotional shoulders, and knowing their behind you is a helpful, stress relieving process that can bring you up right when you need it most.

If you're considering franchising or are already underway in the process, remember to cut yourself some slack. Try to remove certain responsibilities in order to lower your personal workload as much as possible. This prep step is miniscule, while providing you with plenty of extra time and energy for franchise work in months to come.

Finally, don't forget that this is your family's accomplishment, too. They're there to reap the benefits of franchise ownership, just like you are. Share with them your hardships and your successes in order to create a well rounded, thriving franchise operation.

By Bethaney Wallace | Jan 02, 2020 | General Franchise Information