Why not leverage your sharp business skills and strategic know-how to start a family business? It’s a great way to build generational wealth and make a lasting impact on your loved ones' futures. Learn more from Kitchen Tune-Up about the best family business to start and how to choose the right opportunity.

Understanding Family Businesses

In the U.S., owning a small business is often a family affair. Approximately 19% of the 28.8 million small businesses in the U.S. are family-owned and they generate 64% of the nation’s gross domestic product. A family business is defined as a venture where two or more family members operate the company, according to Score. Family members are often actively involved in various roles within the business, from strategic planning and governance to daily operational tasks.

There are many benefits to working with family.

  • Family values and loyalty result in low turnover, translating into a positive work environment.
  • A family business focuses on passing ownership from one generation to the next, which helps shape strategic planning and establish long-term goals.
  • Having a multi-generational perspective drives innovation and enables it to adapt as consumer trends change.

Craig Smith, a Kitchen Tune-Up franchisee in Virginia, opened the kitchen remodeling business he runs with his family after spending his career running a transportation company. They serve customers in Williamsburg, Hampton Roads, and Kent County. “My Kitchen Tune-Up business has been a lot of hard work, but it’s very satisfying and rewarding. It’s something we’re building for our family. It’s something I can leave for them, and they can decide what they want to do with it. It’s a fantastic opportunity for people.”

Despite the perks of a family business, it can be challenging to navigate family dynamics and handle succession planning appropriately. Open communication and defining clear roles and responsibilities for each family member can help keep some issues at bay.

Profitable Family Business Ideas

If you want to create a legacy for your family, Kitchen Tune-Up has some ideas for the best family business to start. Pick a business that aligns with your family’s goals, strengths, and lifestyle. Here are our top picks:

  1. Food truck: If you have treasured family recipes, a food truck can be a positive growth opportunity for a family. A successful food truck can pave the way for future business expansion, such as opening additional trucks, establishing a brick-and-mortar restaurant, or franchising the concept. And you’ll have the flexibility to change locations based on customer demand. To be successful, you’ll need to navigate regulatory challenges and balance food costs with menu pricing.
  2. Lawn care: If your family has a green thumb, starting a landscaping or gardening service could be a great fit. A landscaping business has low overhead, and you can scale simply by widening your territory. It also allows for creative expression and physical activity and can include services like design, maintenance, and installation. Something to consider, however: Landscaping is often a seasonal business, and it may be difficult to generate year-round revenue to sustain multiple family members.
  3. Event planning: Personalized event planning for weddings and other special occasions is in high demand. There were more than 2.1 million weddings held in the U.S. last year, and the average cost of a wedding was $30,119.  Event planning requires a wide array of skills, such as creative design, logistics, and budget management, providing ample opportunities for family members. Although an event planning business offers flexibility, many events will require working at night and on weekends.
  4. Home remodeling: Home remodeling requires a diverse range of skills, enabling family members to focus on what they do best, whether it’s in design, carpentry, budgeting, or customer service. As housing stock ages, people are turning to home remodeling to make repairs and fit the evolving needs of their families. A niche remodeling franchise, like Kitchen Tune-Up, has robust growth potential.

Kitchen Tune-Up’s Family Appeal

Kitchen Tune-Up specializes in affordable and accessible kitchen remodeling. Whether a homeowner simply wants to refresh the look of their kitchen or reimagine the entire space, Kitchen Tune-Up does it all. More than 90% of our owners do not have remodeling experience. We provide the training, tools, and support they need to run a successful kitchen remodeling business.

Here’s a snapshot of our financial requirements:

  • Startup costs: $129,930-$188,850
  • Net worth requirement: $200,000
  • Liquidity: $71,930
  • Franchise fee: $79,950

Inquire Now!

Don’t miss out! If our franchise model aligns with your family business goals, take the first step towards becoming your own boss in a thriving industry. Inquire now to start building a family business with Kitchen Tune-Up!

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