1851

Owning a franchise can be a great way to build a successful business. But for many franchisees, the ultimate goal is to pass the business down to their family members. Franchise businesses have a proven business model; ongoing support; training from the franchisor; and a strong brand, which makes it a relatively low-risk option for a family business that can be passed down from one generation to the next. Today, family-owned businesses&nbsp;<a href="https://www.familybusinesscenter.com/resources/family-business-facts/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=how-to-turn-your-franchise-into-a-family-business-2720952" target="_blank" rel="nofollow">account for 62% of the nation’s employment</a>.Turning a franchise into a family business, however, requires a bit of planning and strategy.&nbsp;Here are a few tips for franchisees who are looking to turn their franchise into a family business:Start planning early.&nbsp;If you're thinking about passing your franchise down to your family members, it's important to start planning early. This means thinking about your long-term goals and developing a plan for how your family members will take over the business.Train your family members.&nbsp;As you begin planning for the transition, it's important to start training and grooming your family members to take over the business. This can include things like teaching them the ins and outs of the franchise, giving them hands-on experience and helping them develop the skills they'll need to run the business.Communicate with the franchisor.&nbsp;As you start planning for the transition, it's important to communicate with the franchisor to ensure that they're on board with your plans. The franchisor may have specific requirements or expectations for family members who are taking over a franchise, so it's important to be upfront about your plans and make sure everyone is on the same page.It is also worth noting that many franchise brands have implemented&nbsp;<a href="https://www.franchisewire.com/succession-planning-for-franchise-business-owners/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=how-to-turn-your-franchise-into-a-family-business-2720952" target="_blank" rel="nofollow">programs and policies</a> to support multi-generational ownership. For example, some brands have set up succession planning programs or offer special incentives or financing options for family members taking over the business. This is a trend that is becoming more common as franchisors see the benefits of having multi-generational families owning their brands.Consider an ownership structure that allows for multiple partners.&nbsp;One way to turn your franchise into a family business is to have multiple family members as partners in the business. This allows for shared responsibilities and decision-making, and can help ensure that the business stays in the family for generations to come.Create a comprehensive plan for the business.&nbsp;To ensure that the business can be passed down from one generation to the next, it's important to have a comprehensive plan in place. This plan should include things like financial projections, marketing strategies and plans for future expansion.Overall, with the right planning and strategy, turning a franchise into a family business can be a great way to ensure that the business stays in the family for generations to come.&nbsp;

How to Turn Your Franchise Into a Family Business

1851 Franchise

Statistics show that turning a franchise into a family business is a common occurrence, and many families see it as a great way to ensure the continuity of their business. 

how-to-turn-your-franchise-into-a-family-business

Paris Baguette

Photo of Paris Baguette sandwich, chips and pastry

Paris Baguette Ranked No. 112 in 2025 Technomic Top 500 Chain Restaurants Report, Climbing Over 20 Spots From Prior Year

paris-baguette-technomic-top-500-ranking-2025

Layne's Chicken Fingers

Photo of exterior of Layne's Chicken Fingers location with red lights around roof

Layne’s Chicken Fingers Closed July With 3 Franchise Agreements Signed and 3 New Restaurants Opened

laynes-franchise-growth-july-2025

Fresh Coat

Photo of a group of Fresh Coat vehicles with team members standing around them

The Power of Local Partnerships: Collaborating With Real Estate Agents, Contractors and Designers

local-partnerships-fresh-coat-painters

TruBlue Home Service Ally

A Booming Industry: The Future of the Home Service Market and Why TruBlue Is Poised To Lead

a-booming-industry-the-future-of-the-home-service-market-and-why-trublue-is-poised-to-lead

Pet Wants

Franchisee Toolkit: The Key to Success in Owning a Pet Wants Franchise

franchisee-toolkit-the-key-to-success-in-owning-a-pet-wants-franchise

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Development Website Builder

Franchise Resources

What ALEC-Laffer's Report Means for Franchising

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

1851 Login

GROWTH CLUB LOGIN

facebook

instagram

twitter

linkedin

youtube

Keurig Dr Pepper Splits in $18 Billion JDE Peet’s Deal, Creating Global Coffee Giant

keurig-dr-pepper-splits-in-18-billion-jde-peets-deal-creating-global-coffee-giant

McDonald’s Rolls Out Major Value Push To Win Back Customers Amid Inflation

mcdonalds-rolls-out-major-value-push-to-win-back-customers-amid-inflation

Photo of Paris Baguette pastries and beverages 

Paris Baguette Celebrates 250th Café Opening in Frederick, Maryland, Accelerating Expansion and Reviving the Neighborhood Bakery Café

paris-baguette-250th-north-america-cafe

Restaurant Chains Open Their Wallets To Jump-Start Franchise Growth - 1851 Franchise

Restaurant Chains Open Their Wallets To Jump-Start Franchise Growth

restaurant-franchise-incentives-cash-royalty-holidays-fee-reductions

U.S. Budget Deficit Rises as Tariff Revenues Increase — Potential Considerations for Franchising

us-budget-deficit-rises-as-tariff-revenues-increase-potential-considerations-for-franchising

Hooters Leans Into Franchising With Closure of 30 Company-Owned Stores - Agg - 1851 Franchise

Hooters Leans Into Franchising With Closure of 30 Company-Owned Stores

hooters-franchise-model-company-owned-closures

Wendy's CEO Kirk Tanner Steps Down - Breaking News - 1851 Franchise

Wendy’s CEO Kirk Tanner Steps Down Amid Challenges, Leaving Franchisees Facing Uncertainty

wendys-ceo-transition-kirk-tanner-franchisee-uncertainty

1851 Keyword - The Secret To Succeeding With a Part-Time Franchise Is Picking the Right Model

The Secret To Succeeding With a Part-Time Franchise Is Picking the Right Model

part-time-franchises-picking-the-right-model

Hely and Hiral Patel Bring Their Longtime Dream to Life With The Brass Tap

brass-tap-franchise-pasadena-maryland-hely-hiral-patel

graphic image of a franchisee spotligh aman kaur of voodoo brewing

How This Trio of Friends Is Brewing Up Community With Voodoo Brewing Co. in Prosper, Texas

How to Turn Your Franchise Into a Family Business

MORE STORIES LIKE THIS