family meeting starting a business

When is the Best Time to Tell Loved Ones You’re Starting a Business?

You’re thinking about starting your own business – that’s great! Maybe you’ve even taken a few steps toward that direction already, setting up financing or looking into a location – even better with progress in tow. But another aspect of starting up shop, one that is often ignored – is that of telling your loved ones about the venture. At some point, you have to explain what you’re doing, what your goals are, and an overall glimpse of your future.

But when do you tell them?

This, of course, is a decision that will be different for everyone. It doesn’t come with a definite timeline, or even one that can be easily determined. Instead, you have to look at your individual situation to determine an ideal date (or several of them). Many times, folks will choose to tell different friends or family members at varied times, based on personalities, level of willingness to help, special circumstances, and more.

In order to find the best timeline, there are several things you can look into. First, ensure that you are serious about moving forward. While there are likely those who are closer to you who you’ll discuss the franchising process with early on, you will want to have a set plan (and no doubts about turning back) before you tell everyone in your circle. Then again, be sure that there are no cracks that could potentially cause a deal to fall through. Even if you’re 100% on board, consider outside instances. Is there an approval process? Some contingency that would make or break the deal? If so, consider waiting to tell everyone until this is no longer the case.

Next, look at trust. We all have people in our lives that we trust. These are also the people who want the best for us, and will encourage in whatever way they can. These are the people you want to tell right away. They’re the people who you want helping you make decisions, too. However, it’s once you start getting further down the line that you will want to be more tight lipped. Once trailing down to distant family members, or friends who you don’t speak to as often, it might be best to give small details (or no details), until everything is more concrete. This isn’t to say you’re expecting something to go wrong, but rather, you’re playing it safe, staying quiet until there’s more to be shared.

Finally, there comes a point in time where you want to tell everyone about your new venture. This can be considered pre-advertising for a business that will most definitely be up and running. Once everything important has been put into place, you can start sharing your news with the world, shouting it from the rooftops if you like. By letting as many people as possible know what you’re up to, you can easily gain recognition and local business. If for no other reason than to support your franchise, friends will spread the news and share with others all that you have to offer. It’s an instance where telling the public isn’t only satisfying (you’re excited, after all, so tell people your good news!), but will actually help your profession.

When it comes time to tell others about your franchising dreams, everyone will have a different agenda. And that’s not only ok, it’s necessary for your personal journey. Look to creating a timeline that makes you feel comfortable, but that will also compliment your franchising process.

Get started on your own business venture (secret or not), today!

By Jason Hightower | Feb 13, 2017 | General Franchise Information