Building a family-owned business is about more than achieving financial success—it’s about crafting a legacy that stands the test of time. Many entrepreneurs dream of more than personal wealth. They want to build a legacy to pass down to their children and grandchildren, something that could last for generations. Franchising with Neighborly provides a unique opportunity to establish a successful family business with long-term potential, whether you want to start a business from scratch or expand an existing one.
Why Family-Owned Businesses Thrive
Family businesses are a global cornerstone of economic success and community impact. In fact, family-owned businesses account for more than 70 percent of global GDP and about 60 percent of global employment.
Studies show that family-owned businesses often outperform non-family ones. They often have better customer loyalty and long-term growth. Operational performance is also a key metric that sets family-owned businesses apart. That metric alone helped family-owned businesses outperform other businesses by about 14 percent. This shows how resilient family businesses are, how positive their long-term perspectives are, and the key role that operations play in a business’s financial performance.
Of course, the benefits of owning and operating a family business go far beyond financial gains. With the right planning, business model, and support, a family-owned business can foster a sense of pride, provide stability, and create opportunities for family members to work together toward a larger goal. When members of a family are invested in the success of the company, it stands to reason that their involvement will help the business thrive! For these reasons, family businesses have the potential to flourish for decades, becoming a lasting legacy for future generations.
Franchising: A Family Business Idea
While there are many family business ideas to choose from, one thing that is true for all of them is that starting a business from the ground up comes with significant risks and challenges. There’s a reason that so many startup businesses struggle to survive!
That challenge presents one reason why franchise business ownership has become such an attractive option. With a franchise, you benefit from a proven business model, established brand recognition, and ongoing support. Franchisors also typically offer detailed training programs and operational support, which can be helpful for families who may not have prior experience in running a business. Instead of spending years trying to figure things out through trial and error, your franchise business could be running on solid ground much faster than you might think! Neighborly®, and its home service brands in particular, provide the framework and resources you need to focus on growing your business and building a legacy for your family, with proven assistance in navigating the complexities of starting from scratch.
Neighborly: Ideal Franchises for Building a Legacy
As one of the most well-established names in franchising, Neighborly has a reputation for supporting franchise owners. Our spans a wide range of industries, from home improvement and repair to cleaning and maintenance services. This diversity gives you the flexibility to choose a franchise that aligns with your family’s skills, interests, and long-term goals.
A few more reasons why Neighborly is a great choice for building a family business include:
Comprehensive Training and Ongoing Support
Neighborly offers franchise owners comprehensive training and continuous support, which is key to long-term success. You’ll receive detailed guidance on running your business, including operational procedures, customer service best practices, and local marketing strategies. This strong foundation is essential for families who are new to business ownership, allowing everyone to feel confident and prepared as your franchise business grows. Throughout your business ownership journey, Neighborly’s team of business coaches, marketing experts, and industry professionals will be there to help guide you as you grow your business into a multi-generational legacy.
Multiple Service Brands and Cross-Selling Opportunities
As we mentioned above, Neighborly’s portfolio of service brands spans a wide range of home service industries, from plumbing and electrical to landscaping and cleaning. This is important because, as a franchise owner, you may get the unique opportunity to diversify your business offerings by adding more Neighborly brands over time.
For example, you could start with one brand, like Mr. Handyman®, and later add another, such as Molly Maid® or Aire Serv® to expand your portfolio of service offerings and leverage your existing customer base. This feature makes Neighborly perfect for families, as you can expand your business into new markets and services, keeping it dynamic and well positioned for future generations. In fact, 44% of family businesses prioritize expanding into new markets as a strategic goal.
For this reason, the cross-selling opportunities that a Neighborly brand can offer may give your family the ability to grow a profitable business in multiple directions, creating a more resilient and diverse family enterprise.
Flexible Business Model for Family Involvement
Whether it’s dividing responsibilities, learning the business together, or contributing in unique and valuable ways, the franchise business model and its systems and processes make it easier to get the whole family involved. Different members of the family can play to their individual strengths and contribute to different aspects of the business, combining many efforts into a stronger and more capable whole. Plus, Neighborly’s Home-Based Business Model means that your business may be able to be launched from home, making it convenient for the whole family to participate. With available training and support, everyone in the family can gain the skills and knowledge they need to work effectively together and grow a successful family business.
Proven Track Record of Success
Another feature that makes Neighborly a great choice for family businesses is our long track record of success. In fact, Neighborly’s franchise business owners are known for their proven track record. This is due, in large part, to our proven business models and time-tested systems. These systems ensure that your new business has a solid foundation, making it particularly appealing for families looking to build a legacy.
Neighborly’s tried-and-true model also means less risk for franchise owners. Along with a bright financial future, you could also give your family peace of mind knowing that you are investing in a business with high potential for success.
Values-Driven Approach and Community Impact
When it all comes down to it, long-term business success relies on ethical business practices and strong community support. For this reason, Neighborly’s commitment to its core values—respect, integrity, customer focus, and having fun in the process—aligns perfectly with family-owned businesses. Our business model emphasizes ethical business practices, quality service, and strong community relationships, all qualities that help family-owned businesses, in particular, thrive. What is more, many Neighborly franchisees find a sense of purpose in their work, knowing that they are contributing to the well-being of their local communities.
For families, this values-driven approach creates a deeper sense of fulfillment and purpose, making it easier to pass down a business that is not only financially successful but also rooted in strong ethical foundations.
Learn More About Starting a Family-Owned Business with Neighborly
Building a family-owned business that lasts for generations takes dedication, vision, and the right support system. At Neighborly, we offer business owners a proven pathway, helping you create a thriving enterprise that your family can be proud of for years to come.
If you’re ready to take the next step toward building your legacy, download the Franchise Guide to learn more. Your future—and your family’s—starts here!
