There are many family business ideas that can be taken into consideration when you want to start and involve your family in a business. The advantages of having members of your family helping in the business cannot be overstated since it is important for a small business to have trusted people by your side. Look at the ideas here given and see if any of these ten business ideas is for you.
10 Best Family Business Ideas 2017
Many photo shops are family managed. You will see both husband and wife helping each other in this kind of venture. It is not difficult to maintain and you only need a few equipment to run this business.
2. Grocery store
A mom and the pop grocery store are still very popular. Since there are lots of inventory in this kind of business, pilferage is easy so it is best run with members of your family.
3. Electronics shop
This is also another type of business where father and sons can normally be seen manning the shop. Even the children can be trained in this line of business and they can easily take over later on when the parents need to retire.
4. Car repair Shop
The need for more car repair shops is growing so this is also a good family run business to start. Brothers or father and sons can work together to make this kind of business profitable.
5. Flower shop
There are many flower shops that are also family owned and you can see mother and daughter running the affairs of the business. It has a good niche market and has many potential customers both individual and corporate.
6. Catering business
A catering business is one kind of venture where members of the family are really needed. Most small businesses of this type are based at home so members of the family are the ones managing it. Sometimes there are special and secret menus that the family does not want to reveal to other people like employees so they prefer to just cook themselves.
This is also one of the popular family-owned kind of business. The family can easily get rich when the business is well-managed. Sometimes there is no need to open another shop as even one shop is enough to support all members of the family.
8. Hair salon
Barber shops are particularly attractive as a family business. It is easy to manage just as long as there is a member of the family willing to overlook the operations.
9. Buy and sell business
If there is an expertise in this line of family business, it can be passed on to your children. There is no need to rent a commercial space depending on the items being sold. The profit in this line of business is quite good and the members of the family can also easily join the business.
10. Direct selling business
There are companies that offer their products only to its members. As a member, you get to buy with a discount and therefore can use that as a profit margin. Many families have entered into this line of venture and became successful.
Check your domain ranking