Family-owned businesses face a few unique challenges that other businesses don’t have to consider
According to The Small Business Association, family-owned businesses often have trouble separating business from pleasure:
“Small businesses are often like family, with co-workers caring about each other,” the association writes. “But when that family is actually family because of relationships by blood or marriage, special problems can arise. It can be challenging to make business decisions and operate without bringing personal feelings into the mix.”
The family-owned N-Hance franchises are no different. Even the most successful husband and wife teams often struggle with separating their personal lives from their shared business. This is the case of Teresa Fennimore, who co-owns one of the top-performing N-Hance franchise locations with husband.
“Keeping work and marriage separate is difficult,” Fennimore says. “Owning your own business is very personal and it can be very emotional. So, it’s very important to keep work-related issues out of the house whenever possible. It’s important to realize that you’re all working towards the same goals.”
By Allowing Each Family Member to Focus on What They’re Best At – N-Hance Franchise Owners Thrive
Every family business is comprised of individuals with different skill-sets, interests, professional backgrounds and ways of doing things – and it’s important to remember this from the very beginning. The fact that you’re ready to own a business together is a worthy pursuit, but the path to success is determined by giving each family member space to focus on what they’re good at.
In the case of Michael and Carol Gangadeen, who co-own a top-performing N-Hance franchise as husband and wife, they thrive in business by segmenting roles to strengthen each other and the business overall.
“We know what we’re good at,” Michael says. “Carol is wonderful with customers. She’s so creative. She can walk into a home and can come up with a design that will blow our customers away.”
“Michael is also terrific with customers,” Carol says. “But his strength is in the numbers. He keeps us focused on growing the business and providing the backend operations that we need to exceed our goals. We have two different skill-sets and we give each other space – though it’s often hard to do. We share a vision for the future and a vision for our business, and that’s the essential thing.”
N-Hance has dozens of family-owned operators who want to help you
When you franchise with N-Hance, you don’t just get the world-class support from corporate, you also get access to dozens of entrepreneurs who know this business inside-and-out. Our franchise family is willing to help you – in fact, they love helping each other. This not only strengthens our brand, but it also provides you with a vital resource most independently run family-owned businesses don’t have access to.
“The other owners in the N-Hance franchise have been wonderful to us,” says Lisa Markese, who owns an N-Hance franchise with her husband and son. “Everyone in this brand wants you to succeed and they go above and beyond to help you.”