Considering that United Franchise Group (UFG) started with a business that creates signs, it makes sense that the walls of its sprawling West Palm Beach headquarters are covered with-you guessed it-a whole lot of signs. Among the most prominent, front and center in the lobby, there's one sign that announces the company's core value: "Like a family." But UFG, whose affiliated brands include more than 1,600 franchises in more than 60 countries, isn't just like a family. It's a multigeneration, family-run business, with several family members on the payroll. That includes Ray Titus-who founded Signarama with his father in 1986-and Titus' three sons, plus assorted nephews.
In nearly 37 years of running the company, they've learned a lot about what it takes to keep the wheels of a family-run franchise business turning smoothly. "The franchise model is very attractive to families," says Ray Titus. "There are systems in place, processes in place, roles defined...and we understand those dynamics."
But even if your franchise isn't family-owned, insights on how to successfully navigate the interpersonal, intergenerational dynamics of a family-run franchise can still be very instructive. For any business owner, it's often difficult to find the dividing line between personal and professional relationships. And franchising relies on personal relationships to an unusual degree. This is in part because the cost of entry for many non-food franchises is low enough that franchisees can afford it with modest investments-often from friends or family members. During the startup phase, spouses, children, and friends can help out, and they care more about the business's success than random hires would. "You've got a trust factor involved," says Ed Teixeira, a franchising consultant and coauthor of the new book Franchising Strategies: The Entrepreneur's Guide to Success.
This story is from the Startups - Spring 2023 edition of Entrepreneur US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the Startups - Spring 2023 edition of Entrepreneur US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Why Small Businesses Can't Afford to Grow
Big companies take a long time to pay their suppliers. Sometimes, so long that the supplier goes out of business. Two entrepreneurs wanted to find out why this system is so broken-and wound up creating a solution.
MY FAVORITE CUSTOMER
For small, independent businesses, loyal patrons are benefactors, protectors, muses, and mascots. They make sure the show goes on. Here, three business owners celebrate an irreplaceable member of their community.
Do You Say 'Yes' Enough?
We don't give ourselves enough credit for trying. So let's start doing it right now.
He Does $10 Million-Plus in Sales
When Jeffrey Bell gave up horse training to buy a Floor Coverings International franchise, he wanted to get out ahead of his new pack. To do that, he had to learn to delegate.
How This Business Rookie Became a Top Seller
After competing in two Olympics, Cammile Adams dove headfirst into her second career - and became SafeSplash Swim School's #1 franchisee. Here's how.
How to Pick the Perfect Franchise For You
There are a lot of great brands out there. But that doesn't mean they're all a great fit.
Serving the Underserved
When Dennis Johnson opened a Pizza Ranch in Minnesota, he hoped to serve the nearby Native American communities in more ways than one.
When Life Is Preparation
Vanesa Ellis was no expert on mosquitoes or lawn care. But as it turns out, something else made her the perfect fit for two home-care franchise brands.
Changing Careers? Consider Franchising.
Here are five reasons why franchise ownership could be the right fit for you.
WRANGLING THE MANY-HEADED MONSTER
For mom-and-pop business owners, just as inflation calms in one area of operations, it rears its head somewhere else. The best way to stay on top of it, experts say, is to stay flexible.