Franchising is the safest and most supported option for families wanting to go into business together and is a growing trend in the industry according to family owned and operated healthy
fast food franchise Trios.
Founded by three brothers,
Trios Managing Director, and the youngest brother, Mr David Elia said it was common for families to consider franchising as a business solution because it enhanced the supportive environment already provided through franchising.
“The key benefit of franchising is people can be in business for themselves but not by themselves, as the structure of the business provides full support from training to marketing,” he said.
“Working with trusted family members often makes the transition to business owner easier as they are going through the exercise together.
“More than 50 percent of our current franchises are family owned consisting of husband and wife, to our most recent franchise in Albury, which is a father and son team.
Mr Elia said many enquiries were coming from the Baby Boomer demographic that had more disposable income available and a consideration for helping children establish a secure income stream.
“This sector of the community are cashed up and have a great desire to help their families. Investing in a business is being looked upon as a great way to achieve this while also instilling a solid work ethic.
Mr Elia said the flip side were those people who could not envisage a family business working cooperatively.
“Some people think that family and business don’t mix and can cause problems between each other but if you follow some simple guidelines it is an excellent way to go.”
Mr Elia outlined the following tips for ensuring a successful and harmonious family business:
1. Set some boundaries. It’s easy for family members involved in a business to talk shop 24/7. Limit business discussions outside of the office.
2. Establish clear and regular methods of communication. Problems and differences of opinion are inevitable. Consider weekly meetings to assess progress, air any differences and resolve disputes.
3. Divide roles and responsibilities. While various family members might be qualified for similar tasks, it is best to base roles on key strengths.
4. Put business relationships in writing. Be clear up front about finances, exit plans and other details to avoid any long-term issues.
Mr Elia said his family was a true example of how a family business could prosper into a life long venture.
“I am very proud of my family and the success we have all achieved together,” he said.
“We have been working together for over 20 years so we know the benefits of starting a family business. “Our Trios franchise is the perfect opportunity for anyone wanting to start a family business and succeed together.
Trios is dedicated to providing healthy, tasty and
fresh meals to health-conscious consumers in the form of its signature Laffé™ wraps, fresh tossed salads and oven baked spuds.
Trios currently has sites ready for franchises on the Gold and Sunshine Coasts in Queensland, as well as Maroubra in Sydney. Opportunities to set up a Trios store are available across Australia upon enquiry.
Trios currently has 15 stores and immediate expansion plans are set in place across all states in Australia and the Middle East. The company is also in negotiations for establishing the brand in the United States, China, UK and Singapore.
10-Aug-2007