Considering that United Franchise Group (UFG) started with a business that creates signs, it makes sense that the walls of its sprawling West Palm Beach headquarters are covered with-you guessed it-a whole lot of signs. Among the most prominent, front and center in the lobby, there's one sign that announces the company's core value: "Like a family." But UFG, whose affiliated brands include more than 1,600 franchises in more than 60 countries, isn't just like a family. It's a multigeneration, family-run business, with several family members on the payroll. That includes Ray Titus-who founded Signarama with his father in 1986-and Titus' three sons, plus assorted nephews.
In nearly 37 years of running the company, they've learned a lot about what it takes to keep the wheels of a family-run franchise business turning smoothly. "The franchise model is very attractive to families," says Ray Titus. "There are systems in place, processes in place, roles defined...and we understand those dynamics."
But even if your franchise isn't family-owned, insights on how to successfully navigate the interpersonal, intergenerational dynamics of a family-run franchise can still be very instructive. For any business owner, it's often difficult to find the dividing line between personal and professional relationships. And franchising relies on personal relationships to an unusual degree. This is in part because the cost of entry for many non-food franchises is low enough that franchisees can afford it with modest investments-often from friends or family members. During the startup phase, spouses, children, and friends can help out, and they care more about the business's success than random hires would. "You've got a trust factor involved," says Ed Teixeira, a franchising consultant and coauthor of the new book Franchising Strategies: The Entrepreneur's Guide to Success.
Denne historien er fra Startups - Spring 2023-utgaven av Entrepreneur US.
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Denne historien er fra Startups - Spring 2023-utgaven av Entrepreneur US.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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