Like most historically significant franchises – at some point, there will be a passing of the guard from one generation to the next. Passing on a family office to future generations is a complex and delicate process that encompasses both practical and emotional considerations. It requires meticulous planning, clear communication, and a solid foundation built on trust, shared values, and a strong sense of family identity. This blog will delve deeper into the common challenges families encounter when preparing the next generation to take over the family office and explore strategies to address these challenges. https://lnkd.in/gjj2Rtrc
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One key benefit of a multi-generation family business is that a strong work ethic is built into the business model. With each generation within the family business having a vested interest in the company, each employee's performance not only affects the organization but also impacts the family unit as a whole. Check out this Forbes article to learn more about the benefits of having a multi-generation family business. #familybusiness #workethic #nextgeneration #franchisesuccess #franchising
5 Benefits Of Having A Multigenerational Family Business
forbes.com
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34 years later, +30,000 business owners’ in 25 countries.... ask anyone of TAB members how The Alternative Board (Worldwide) has improved their businesses and changed their lives. Better still, give us a call to arrange a coffee meeting and chat about how we can do the same for you! #thealternativeboard #business #BusinessOwners #businessadvice #TABBoards #tabboardssa
FAQ - Why was The Alternative Board concept developed? The Alternative Board (TAB) was founded by Allen Fishman after his success in turning a struggling electronics firm in Saint Louis into a thriving corporation that eventually went public on NASDAQ. During his brief retirement, Allen realised that the key to success was the external advice of his peers, which led him to create the first peer boards in the Saint Louis area. From the beginning, The Alternative Board was designed as a franchise model, recognising that the best advisors for business owners are other business owners. Now, 30 years later, The Alternative Board operates in 25 countries, with thousands of members worldwide benefiting from Allen's vision.
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The question is, can you as a business owner afford not be part of a TAB board? Talk to us about how you can experience the value of being a TAB board member.
FAQ - Why was The Alternative Board concept developed? The Alternative Board (TAB) was founded by Allen Fishman after his success in turning a struggling electronics firm in Saint Louis into a thriving corporation that eventually went public on NASDAQ. During his brief retirement, Allen realised that the key to success was the external advice of his peers, which led him to create the first peer boards in the Saint Louis area. From the beginning, The Alternative Board was designed as a franchise model, recognising that the best advisors for business owners are other business owners. Now, 30 years later, The Alternative Board operates in 25 countries, with thousands of members worldwide benefiting from Allen's vision.
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This Mother's Day, we're spotlighting America’s true bosses: Moms 💘 Many have often stepped back from the corporate world to focus on family and possess the skills to make exceptional Franchise Owners. Moms are known for their multitasking abilities, balancing family, work, and personal life, which directly translates into franchising, where running an operation requires keeping multiple balls in the air. From navigating playground politics to managing daily family schedules, Mothers excel in decision-making skills, which can effectively drive business growth in the franchise world. Finally, moms often have to manage finances, planning everything from weekly meals to family vacations. This financial understanding is vital in franchising, where balancing budgets and maximizing ROI is critical. So, to all the moms considering their next chapter, franchising might be the perfect fit. Here's to the mothers building their legacies, one franchise at a time. Happy Mother's Day 🌷 #mothersday #franchiseowner #beyourownboss #momsday
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Family businesses tend to be trusted more by customers, clients, and consumers. "The family-leader of these businesses put generational survival over short-term success, near-term profitability, and immediate personal returns. Shepherding the business toward long-term viability trumps most other concerns, which tends to make these businesses less profitable than non-family-owned organizations in boom times and more resilient in down economies." #franchising #franchisesuccess #jars https://lnkd.in/gyzQC_ug #
Five key characteristics of generational family businesses
illumine8.com
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Running a business is challenging enough on its own, but managing a business with your family introduces an entirely new set of dynamics. If you’re involved in a family business and looking for a little inspiration, check out this article below about 10 family businesses that have made it big. If these families were able to defy the odds with their businesses, we know you can too! 🔗 https://zurl.co/rHH6 #positivelypeople #familybusiness #businesssolution #growyourbusiness
10 Family Businesses That Have Made it Big
uschamber.com
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CEO/Founder at Positively People and CEO/Managing Director at PP Generational Continuity Consultancy, Ltd - Kenya
Running a business is challenging enough on its own, but managing a business with your family introduces an entirely new set of dynamics. If you’re involved in a family business and looking for a little inspiration, check out this article below about 10 family businesses that have made it big. If these families were able to defy the odds with their businesses, we know you can too! 🔗 https://zurl.co/rHH6 #positivelypeople #familybusiness #businesssolution #growyourbusiness
10 Family Businesses That Have Made it Big
uschamber.com
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The value of family-run businesses in real estate: Today marks National Family Business Day, an occasion that honours the role that family businesses play in shaping Australia's economy, community and culture. https://bit.ly/4ecDRsm
The value of family-run businesses in real estate
realestatebusiness.com.au
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Empowering Wellness Entrepreneurs | Co-Founder of Altered States Wellness | Franchise Opportunities Available
It's not often that Kyle Struebing and I get to hop on a podcast interview together, so we thoroughly enjoyed this one! In this episode we spoke about the evolution of our business moving from products to services and how we've crafted an experience. Tune in and listen here: https://lnkd.in/gPFBH5qg
We are pleased to publish this latest episode of Celebrating Small Family Businesses. This entrepreneurial couple has built Altered States Wellness, a float therapy studio, and is franchising their concept. Join us as we talk to Kyle and Jojo about their journey from corporate life through franchise ownership to franchise creation. They have much hard-won wisdom to share!
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Empowering ambitious individuals to take control of their future, achieve financial independence, and build a lasting legacy through strategic franchise ownership.
Escaping the Hamster Wheel of Corporate America to Build Your Own Legacy (Part 1 of 3) The daily grind of corporate America can often feel like running on a hamster wheel. The routine is predictable, the advancement opportunities limited, and the sense of purpose often elusive. If you've ever found yourself dreaming of breaking free from this cycle and building something truly your own, you're not alone. At Trusted Franchise Consultants, we're here to help you turn that dream into reality by guiding you to start and build your own dream business. Why Break Free from the Corporate Cycle? Personal Fulfillment: The corporate world can be rewarding, but it often lacks the personal fulfillment that comes from pursuing your own passions. Starting your own business allows you to align your work with your personal interests and values. Financial Independence: Owning a business provides the opportunity for financial independence. You control your income potential, and with the right franchise, you can build a profitable and sustainable enterprise. Flexibility and Control: As a business owner, you set the rules. You have the flexibility to manage your time, make key decisions, and steer your business in the direction you envision. Legacy Building: Creating your own business is about more than just making money. It's about building a legacy that can provide for your family, create jobs, and make a lasting impact on your community. Stay tuned for part 2: How Trusted Franchise Consultants can help (don't miss this).
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