Business First Family Business, Accounting, Finance, Investing, Marketing And Management
There are certain things in life that just don’t mix. Oil and water, orange juice and toothpaste and for some, family and work. Even though there are plenty of families out there who have started a business and are successfully running one, there are some who would rather avoid the idea altogether. It’s definitely not for everyone, but those that come in with a clear mindset can definitely make it happen.
Running a family business is great to mix and match the most positive attributes of your family. One could be a great cook while the other is good with numbers and finances. You could be a tech geek and your partner is great with sales and people skills. If you and your family are thinking about starting a business together, have you thought about what you may start doing? If you’re not sure, check out some of the suggestions below.
Child Care
According to the Bureau of Labor Statistics, childcare is an industry growing faster than the national average. Your business could start with in-home care or with a summer camp idea before blossoming into something full-time. This is a perfect idea for families who are creative and love working with little ones.
Property Management
There are plenty of roles to fill here, from handyman to manager to everything in between. The rental market is growing with each passing year, meaning that there are plenty of tenants out there looking for rooms. Property management isn’t easy, as it will take a lot of money management and patience to keep everything organized. You’ll need to be a well-rounded family, ready for any task.
Food Services
For this section, we’re grouping restaurants, cafes, etc. into one category to keep it easy. This is perhaps the most classic of all the ideas. There is always something to do for everyone involved. It’s the time to show the world that your grandmother really did have the best lasagna recipe around.
Social Media
Once again, this is a grouping of niche websites, blogging, social media pages, etc. You don’t have to feel like you and your family need something “unique” to offer as plenty of channels are simply about normal, everyday life. This one takes awhile to build up a significant following, but there are plenty of families who have turned their social outreach into a full-time job. Moreover, you can earn high profits by blogging for startups and building presences for them on social channels. Keep these social media-related options in mind when choosing a family business startup idea.
Local Store
Similar to the food services idea, having a “mom and pop” shop is a great way to mix both business and family. You could have some unique shop that caters to certain people or go with something more broad, like a general goods store. Retail and clothing are also ideal options for opening up your own local store.
Event Planning
Weddings, birthdays, baby showers and more are just some of the events that we are used to happening just about every year. Why not take advantage of that? You could have your own venue that you rent out and help plan the party. Or it could just be the services you provide at various locations around your city.
Tourism
You’ve surely gone on plenty of vacations yourself, have you ever thought about hosting others? With the rise in online marketplaces for homestays, many couples are turning their homes or extra homes into vacation destinations. You could go bigger and open up a bed & breakfast or even run your own tour guide company.
Farming
Mixing lifestyle, family and business all in one, farming is a way to live off the land and make a profit. You can start a hydroponics farming business, for example. Besides the obvious part of farming in distributing your products around, you could also turn it into an educational center. Set up your farm for excursions or field trips, where people can come learn about animals and what it means to live in the open field.
House Flippers
This one shares some similarities with its distant cousin, property management, but at the end of the day both businesses have two different goals. House flipping isn’t easy, but many are able to make it their business. One partner handles the heavy duty part while the other is in charge of decoration. Or, you could mix and match. Who knows, you might have your own TV show in the future!
