Franchising can truly be a family business, especially as we come out of the recession with an emerging entrepreneurial group of Millennials who see less opportunity in the workforce. Many parents/child teams are turning to franchise ownership as an option - and they're thriving.
In a recent issue of Entrepreneur Startups magazine, the trend toward family ownership was explored, including expert insight from No Limit Agency Chief Development Strategist Sean Fitzgerald. Fitzgerald first got into franchising with his father when the two started Pickups Plus in the 90's, and he knows the value of keeping it in the family when going into industry.
“No one really wants to go into business alone, and ideally you would have a partner that you can trust, someone like family,” Fitzgerald told Entrepreneur. “Trust and honesty are the top reasons why a partnership works or not.”
However, Fitzgerald, who worked with hundreds of family franchisee prospects while at Wireless Zone, Quiznos, and BrightStar Care, added that there's more at stake than a business partnership dissolving when going into business with family.
“At the end of the day, if things don’t work out, it’s not just a business partnership that ends, it affects a family,” Fitzgerald added. “It can be disastrous for everyone. They need to set expectations, make sure everyone is doing this for the right reasons and create the right structures for success.”
To read the full story, click here.
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No Limit Agency Chief Development Strategist Sean Fitzgerald explains how franchising provides a unique opportunity for families to go into business together.
Franchising can truly be a family business, especially as we come out of the recession with an emerging entrepreneurial group of Millennials who see less opportunity in the workforce. Many parents/child teams are turning to franchise ownership as an option - and they're thriving.
In a recent issue of Entrepreneur Startups magazine, the trend toward family ownership was explored, including expert insight from No Limit Agency Chief Development Strategist Sean Fitzgerald. Fitzgerald first got into franchising with his father when the two started Pickups Plus in the 90's, and he knows the value of keeping it in the family when going into industry.
“No one really wants to go into business alone, and ideally you would have a partner that you can trust, someone like family,” Fitzgerald told Entrepreneur. “Trust and honesty are the top reasons why a partnership works or not.”
However, Fitzgerald, who worked with hundreds of family franchisee prospects while at Wireless Zone, Quiznos, and BrightStar Care, added that there's more at stake than a business partnership dissolving when going into business with family.
“At the end of the day, if things don’t work out, it’s not just a business partnership that ends, it affects a family,” Fitzgerald added. “It can be disastrous for everyone. They need to set expectations, make sure everyone is doing this for the right reasons and create the right structures for success.”
To read the full story, click here.
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About the Author
Brian Jaeger is a Vice President of Media Relations at No Limit Agency. Brian joined No Limit Agency after seven years working for local television news stations in Florida, four years at WCJB in Gainesville and three years at Bay News 9, the 24-hour local news station in the Tampa Bay area. Brian is a graduate of the University of Florida, where he studied journalism and telecommunications. He brings a journalist’s viewpoint to the public relations field, and when he’s not busy telling the stories of No Limit Agency's brands, you can find him writing, on a karaoke stage, or cheering on the Gators.
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