A restaurant is the classic option for a family business. There is a little bit of everything here, so your kids and grandchildren will have lots to explore as they get to know more about what you do. They can start off as waiters or kitchen porters and work their way up. You could be making the food you love the most as a family and sharing it with the world. Though running a restaurant is definitely hard and not romantic, it can be a fun adventure with your family by your side.
This can also come in many different forms. Whether you have a cafe, a bistro, or even just the locals’ favourite takeaway, there are plenty of opportunities for you to shape your eatery how you want it.
You also need to make sure that the business is fully insured so that your family can start working with you as soon as it is legal for them to do so. For example, if you own a takeaway, you should make sure that you have takeaway insurance. Make sure you check what takeaway insurance will cover you for so you can always be certain that you are always fully protected, no matter what you might be offering through your business.
Setting up a family business built around a certain trade is always going to be a great move. No matter how advanced the world becomes, there are some things we as a society are always going to need. Be it hairdressers, builders, electricians, or something else, we need these highly-skilled workers. Therefore, if you want to start a family business in one of these sectors, you are in a great position to keep it going for future generations.
It is great to give your children an opportunity to focus on running a business, and having a trade they can learn is a great way for them to acquire important skills. Before they can start studying for their actual trade through an apprenticeship, you could even have them helping out in a small way with any office work that the business might need. It is a fantastic chance to teach them about the many facets of running a company.
If you want something a little different for a family business, why not consider something with a speciality to it like running a bookshop or an antiques store? If you live in a community that gets a lot of tourist trade, these can be fantastic options for a business that is a little different.
They are also unique paths for younger people to pursue, and having a family business for them to fall back on would give them the chance to gain experience that otherwise might be very difficult to pick up. Even with something as simple as a bookshop, there are several paths you could take. You could open an independent store, or you could start a second-hand one that specialises in first editions. Throw in a cafe, and you have the perfect speciality location that is great to hand down to your children when you are ready to retire!
The Key to Running a Family Business
Obviously, when setting up a family business, you have certain hopes for how things might turn out in the future. You will want them to join you in the business, but you also have to understand that this might be a path that they don’t want to follow. While you need to nurture their interest in the business, you also have to accept that they will have their own dreams and they might be happier on different career paths.
When running a business with family, you also need to make sure that you work extra hard to separate family and business life. Bringing an argument from one into the other is only going to make matters worse.
It is entirely possible to have a thriving family business that your loved ones will always be happy to help out with. You just need to be prepared for some of the many difficulties that come with running a business. There will be high moments, and low ones, but your family will be beside you for all of it. Start planning your perfect family business with your loved ones now, and work hard to ensure it gets off the ground!