Embarking on a family business venture can be a rewarding way to bring relatives together and leverage shared strengths. Drawing from the wisdom of co-founders and partners, we’ve compiled five insightful responses, ranging from starting a family photography business to creating a mobile fitness clinic, to guide families in choosing the right small business to start.
Start a Family Photography Business
I might be a little biased, but our photography business has been one of the best things that has happened to our family.
My wife started photography as a hobby, which eventually turned into a lucrative portrait and wedding photography business that has allowed us to work together and spend more time together. Little did we know it would turn into a full-time business.
In the beginning, it might be tough to get your name out, but it’s like any business. Be consistent, put in the work, and master your craft by doing more of it, and it’s going to be profitable.
Also, don’t break the bank with the fanciest camera on the market. Buy a used camera and a budget-friendly lens. You can always upgrade later as you progress.
A big con is that you might be working for free at the beginning to build a portfolio, but it’s up to you how quickly you want to stay in this stage. Don’t think of photography as something that takes a long time. The more sessions you do in a shorter amount of time, the quicker you can start to increase your income by charging more.
It is up to you how fast you want to get things going. A simple way to do this is to offer free photography sessions to all of your friends and family in exchange for a review or mention on social media to get your name out.
A way to market your business for free is to have your spouse take photos and videos of you while you go on photo sessions or while you are editing. This will help provide more content to build your brand.
But don’t give up! You just have to start and keep going!
If you stick with it, a photography business can fit into your lifestyle as a family with some consistent part-time income or grow it into a six-figure business. You can do it together, and it can help you spend more time together if you support each other and work together.
Kevin Fearn, Co-Founder, Shayna Fearn Photography
Launch a Family Recruiting Firm
One of my competitors in the recruiting industry is a family business, and I think they’ve really benefited from the makeup of their company. It’s not the typical family enterprise, but if anyone has a background in consulting or marketing, you’re already halfway there. And no experience is ever truly wasted—each member can specialize in a different field, and this means a larger reach.
But most importantly, there is a sense of trust imbued when a client is dealing with members of a tightly-knit team: something that tends to be easier to achieve when you have a pre-existing relationship. Clients don’t need to be convinced you’re all working together; it’s obvious.
Travis Hann, Partner, Pender & Howe
Explore B2B Franchising Opportunities
The B2B sector is a solid option for families who are looking to start a business while also retaining work-life balance. Because B2B models involve working with other businesses, you don’t necessarily need to work nights and weekends like you would with some B2C businesses (such as restaurants).
For families looking to own a business, franchising is a way to realize that dream while also receiving ongoing training and support along the way.
Chris B., PR Rep, Minuteman Press International
Open a Farm-to-Table Restaurant
A family might consider a farm-to-table restaurant as a business model. Here, the family members can contribute different skills—some farming, some culinary, some customer service, depending on their interests and capabilities—and the whole experience can be a pleasurable one for the family members. In my neighborhood, a family that recently moved here set up a farm-to-table bistro.
It brings family members together, and it connects the family with the community, too: as a source of affordable, healthy, local, and sustainable food. The family farm becomes a business that grows with your family through the life cycle towards the next generation. It gives you a legacy and a reason to get out of bed in the morning.
Zoe Miller, Strategic Business Leader & Market Analyst, Tea Time Facts
Create a Mobile Fitness Clinic
One innovative type of small business that families could consider starting together is a mobile fitness and wellness clinic that travels to various communities to provide services. This model taps into the growing trend of personalized, on-demand services and the collective shift towards health and well-being. It offers the flexibility of being able to serve different locations while allowing family members to contribute diverse skills, from fitness coaching to logistical planning and customer service.
Another fresh concept is creating an online platform that combines virtual coaching with community-building events, such as virtual races or challenges. This business leverages the power of technology to bring people together for fitness and social interaction, which is particularly appealing in a post-pandemic world where many seek connection and community.
Lastly, a family-run business focusing on sustainable and eco-friendly running gear could resonate well with the environmentally conscious market. This venture not only aligns with the values of conservation and responsibility but also meets the demand for products that support a healthy lifestyle without compromising the planet’s well-being. It’s an opportunity for families to bond over shared values and contribute positively to the community.
Joshua Bartlett, Running Coach, Your Next Run
