5 Top Best Small Family Businesses to Start: Family Run Business Ideas
What are the best family business ideas to start? What businesses/ventures can you start with your wife, husband, brothers, sisters and kids this year? Is there any opportunity available for prospective families interested in starting a family business?
Many families have always search for ways of making money as a family. Starting a family business is very easy if you can consider all the technicalities involved. Not every business idea is suitable for family investment.
Some businesses require team partners who are of similar age and orientation to succeed. Many of these business ideas are those that require well defined expertise and experience.
Starting a family business ideas include finding a base for common passion, a workable budget and good business management.
List Of Top 5 Best Family Business Ideas And Investment Opportunities
In this section, I’ll be sharing with you five businesses you can start together with your family and as a family. This family business ideas list will open your eyes to diverse investment opportunities you should consider if you are interesting at creating avenues for making money as a family.
Here is the list of 5 good small family business ideas you can start today:
1. ==> Plantation Farming
If a family has landed properties situated in rural areas and suburbs, members may look into investing the cultivation of tree cash crops such as oil palm, rubber, cocoa as well as planting fruits like oranges, water melon, banana and plantain.
There is a lot of money to be made from direct sales of these farm produce as they are important components of human food and raw materials for industrial use.
2. ==> Open A Restaurant Or Canteen
Many people who have parents especially mothers who have flair for catering have succeeded in setting up food canteens for their families. The startup funds may come from family savings, individual family members or from outside sources such as loans.
Good cooking, great hygiene and classy packaging, strategic location combined with marketing skills will go a long way in ensuring that your food canteen business survives the competition out there.
3. ==> Livestock Farming Business
I know a couple of families that have set up and successfully managed livestock farms by coming together as a unit.
In such instances, you may discover that only one or two may be directly in charge of the production. Others in the family take up other responsibilities such as feed and drug procurement, account balancing and auditing, egg selling, catfish smoking and packaging etc. Poultry and fish farming are the most popular family owned business ideas relating to farming and agribusiness.
A business center these days combines a cyber cafe (for internet browsing services) with photostat/photocopying, colour and black and white printing, spiral binding, hard cover binding and slight refreshment. An entrepreneurial family can venture into this business provided they carry out extensive market analysis.
The father can be one in charge of procuring as well as monitoring the accounts while the mother busy herself with attending to the individual customer problems and other marketing needs.
5. ==> Rental Business
Starting a rental business is one of the easiest and most profitable investments available in the top family business ideas. You may be involved in renting out properties, party tarpaulin tents and white plastic chairs, big machinery and equipment. This business does not even require you to be available 24/7.
Anything can be arranged to be put out for rent if your family is determined to manage it.
A family should not share out responsibilities based on favouritism or sentiments. Delegate members of the family to take care of tasks they are competent to handle. This will prevent rancor as it is necessary for a successful family business succession.