Many people have found success in starting and growing their family’s own company, as opposed to taking on a corporate job with someone else.
Family businesses are a part of the backbone of America. Family businesses are a major contributor to our country’s economy and employment rate. The number of family-owned firms has been on the rise in recent years, responsible for 57% of GDP while employing 63%. In addition, they account for 98 million jobs!
Are you looking for family business ideas to start together? This blog post will provide a list of the best small business ideas that can be started by an entrepreneur and their family.
From restaurants to online services, there is something on this list for everyone in your family – Moms, dads, wives, husbands, kids, brothers, sisters, and grandparents too!
- Profitable Business Ideas for Every Family Member
- First 4 Steps: How to Start a Family-Owned Business
- FAQ: Start a Family Business
- Advantages and Disadvantages of Starting a Family Business
- Family Business Statistics: Success Rates and Obstacles to Avoid
Profitable Business Ideas for Every Family Member
Startup Ideas for Couples, Partners and Married Spouses
Here are my best business ideas for partners (married couples, husband and wife, boyfriend or girlfriend, lovers, and partners), as well as advice on how to maximize success and minimize relationship problems. Yes, entrepreneurs can fall in love with their jobs – and stay in love with each other too!
As a startup consultant who also founded a small business with my husband, I know how to start a business with your spouse, make money, and stay happily married too!
Affiliate Marketing Blog
One partner writes the product reviews and takes photos while the other one can be the webmaster and handle the technical aspects of the website business.
Video YouTube channel
The more outgoing partner can be the video star while the other one monetizes their video channel.
Here the artistic one can create beautiful crafts and the other one will focus on marketing them to customers online or at craft shows and farmers markets.
This is the type of business that my husband and I successfully launched. I was the product developer and marketer while he managed the production factory and shipping distribution processes.
Farming and Plant Nursery
A local family in my area has a successful farm nursery where the husband focuses exclusively on the agricultural farming aspects while his wife is the business manager and salesperson.
Our next-door neighbors launched a food truck and divided the labor, as such; he was the primary chef, and she takes orders and charges customers.
Tutoring and Teaching
The two of you can become tutors on the same or different subjects. One couple I know owns a successful tutoring business where she helps students in their French language studies, and he assists Spanish language learners.
Profitable Parent and Child Business Ideas
Starting a business with your children is a fantastic way to generate money, have fun, and educate them about important entrepreneurial lessons for life. Whether it’s mother and daughter, father and son, parent and kids or tweens, these company ideas are ideal for the generations to launch together.
Cooking Class Business
One of the most popular small business ideas for teams of parents and children is cooking classes. Your family can teach kids and other families how to make different meals and provide lessons on healthy eating basics.
As an example, moms can teach cooking skills, daughters can instruct on healthy eating, sons can chop and prep the ingredients, and dads can market the classes locally – or even post them online if he is tech-savvy!
Having children involved in your business is not only fun but also helps keep them grounded and more likely to succeed later in life.
Online Business Ideas
If your entire family has Internet savvy skills, consider starting an online company together! From coding or designing websites to playing video games and posting on social media for profit, there are so many ways you can make money online.
Consider setting up a Fiverr account where every family member can offer gigs with their talents in photography, graphic design, freelance writing, and database research.
Perhaps your daughter is a fashion expert, then she can choose interesting apparel that mom or dad can create an online store and sell worldwide.
I know one family whose father and son are interested in hiking, and together they created a product review site, which earns income from affiliate sales. The sun is the more expert hiker and writes the product reviews while the father is more creative and takes the photographs and posts them on the website.
Food Truck Business
One of the most exciting family business ideas is owning a food truck! Mobile cooking has become increasingly popular in recent years, allowing children and teenagers to work alongside their parents to create tasty eats for the public.
Food trucks are also great small business ideas because they usually require little startup costs and employees. If you’re wanting to become your own boss and get out of the 9-5 lifestyle, a food truck could be just what you need!
Child Care Business
Starting a child care service can be one of the best small business ideas because it provides a service that’s always needed and can be run from your own home. Plus by having mother and daughter involved they can share the workload.
In some states, you don’t have to have a suitable location of your own to open a daycare facility. Offering your paid services at a local school or church could be an alternative option if you have a passion for working with kids.
Parents and children can offer a flexible arrangement because of their complementary schedules. Perhaps mom can take care of kids in the morning and daughter can take care of them in the afternoon at the school.
Investing in real estate is one of the most popular family business ideas, as it can provide a steady stream of income. If you’ve got a few properties under your belt and some experience with flipping homes, there’s no limit to what you can do! You can even team up with your kids to help manage the rental units.
Successful father and son operations include those where parents invest capital funding for purchases, and the sons invest their labor and time to renovate the property.
There are literally hundreds of small business ideas that revolve around cleaning in some way, shape, or form! From window cleaners to carpet shampooers, there’s room in this industry for your family-run company.
If you’re not afraid of a little hard work or enjoy helping people, a cleaning service is a wonderful way to bring in money. Consider starting a company where mother and daughter work together on residential cleaning and father and son focus on commercial office cleaning jobs.
Event Planning Business
If you love planning parties and creating itineraries, this is one of the most fun family business ideas around! Whether it’s a company picnic or a school soccer banquet, event planning will stretch your organizational skills to the limit.
If everyone within your family has different talents, there’s no reason why you can’t pitch in and make this business a huge success!
Perhaps your son has a knack for party décor and your daughter is brilliant at event invitation design, then combine their talents with your coordination skills then – voila and you’ve got a profitable family-run event planning company!
Sibling Startup Ideas for Brothers and Sisters to Make Money
Siblings are the best partners to work with since they’re family!
A smart way is to do something that both of you are passionate about--especially if it’s related to family or culture. For example, starting an authentic restaurant together could be a fantastic choice for two siblings who love cooking and sharing family recipes.
Certainly, all of these business ideas can be launched by either brothers or sisters – or combinations of each!
Brother Team Startup Business Ideas
Create a mobile app
Create an app or website together with your sibling as the developer and you as the designer – or vice versa depending on your natural talents.
Residential or commercial construction is one of the many business options for brothers to work in. Construction is a way to create something new and exciting while working side-by-side with your brother.
Working with your brother can be very rewarding, especially when you are starting out in this field. You will learn how to do everything from day one which is great for an apprentice. Construction workers will also get the opportunity to travel if they are looking for something different.
Car Detailers & Auto Repair Shop
Starting a business with a sibling can be rewarding and satisfying, especially if you have a lot of passion for the same industry. Starting an auto repair shop or car detailers is a great type of sibling business venture because one brother can focus on the car repairs and the other on auto detailing.
The constant element in this brother business is that you will be spending your days working side-by-side with someone that you love which will be a fulfilling experience for both people involved. Plus, finding employees who are trustworthy and dependable is easier when they are close to family.
Pest Control Service
Pest Control is one of those businesses that can be run from a home office and requires minimal start-up costs.
And as a bonus, Pests Control is a business where it actually may be easier to find employees who are trustworthy and dependable if they are close family members. This is a distinct advantage of your sibling business because the main downside of a pest control service is the high turnover rate due to the physical labor involved.
Waste Removal Company
Owning your own Waste Removal company is an excellent type of business for brothers because it requires little start-up costs. Your brother will be in charge of the operation and management, while you are the service operator. This type of business would be great for you because you could focus on driving the truck while your sibling handles the paperwork and pricing for customers.
In my neighborhood set of brothers who run a profitable junk hauling service. In addition to the fees, they receive to haul away items they increase their income by selling some of the gently used furniture and working appliances that their customers hire them to dispose of. Win-Win! Their company name is catchy and easy to remember – Mr. Cleanout!
Real estate agents and sellers of homes are their biggest customers since they need to remove household items before the new buyer moves in.
Sister New Business Ideas to Launch Together
Sisters working together in a business venture have many advantages. One of the best ones is that sisters have a greater understanding of how each other will handle certain situations – an advantage that makes it easier for them to work together more efficiently and with less friction.
A business where you can both put your skills and talents to good use every day is the most fulfilling type of sibling company to start. Here are some suggestions to get you started if you have a sister and want to start a sister company:
Florist Shop – Flower Subscription Service
Floral design and flower arrangement is a field that would be satisfying to both sisters with the right skills. This is an excellent type of business for sisters because they can work together harmoniously and share their talents with their customers every day.
A floral design company may also offer a subscription service which is perfect for two sisters who want to work together. Not only will it save your company money, reduce advertising costs to obtain new customers, but it will also save time because you will have a standing order each week or month.
Become YouTube stars
YouTube channels are also an excellent type of business for sisters to start because it requires little or no initial investment. Starting a channel is a great idea for you because you would only need to teach your sister how to film videos while you would take care of the editing duties. This way not only will the workload be less stressful but also more enjoyable.
Check out this popular Youtube Channel – Sister and Brother Forever
Catering Service Events
Owning your own catering company is an excellent type of business for sisters because it requires little start-up costs. Your sister will be in charge of the operation and management, while you are the service operator. This type of business would be great for you because you could focus on menu planning and cooking while your sister handles the paperwork and pricing for customers.
In my area, a set of sisters run a profitable caterer for weddings and outdoor parties. Their company name is catchy and easy to remember – My Sister’s Place!
Create Food Products
Product your family’s favorite recipes and package them with a cool brand name, such as Hot Sisters Sauces – to start your own profitable food business.
I’m sure that you’ve found it difficult to find a job that can fit into your busy schedule! Well, starting a mobile dog grooming business may be the perfect opportunity for you and your sister. This kind of business is ideal for you because all you would need to do is learn how to groom dogs and set up a list of low-cost procedures, such as baths and brushing.
While one sister will manage the company’s business operations, the other can handle the grooming duties. Your sister could handle the marketing and social media side of things.
The best part about this type of business is that there’s little equipment to buy since all you really need is a table, chair, and a hose to help with bathing the dogs.
Specialty Cake or Cupcake Shop (Bakery)
If you and your sister like to bake, then consider starting a specialty cake or cupcake business. One of the main advantages of this type of business is that it isn’t very expensive to start. You’ll need to purchase some baking equipment, but fortunately, it doesn’t cost too much.
Your sister can take care of the marketing while you focus on making delicious (and beautiful) cakes and cupcakes. Be sure to read my bakery startup guide filled with pro tips here
Make sure you have a catchy name for your baking business so people will remember it – such as those on my best names for bakery ideas here
Setting up a jewelry business is a great idea for sisters because it requires very little start-up costs. You’ll need to purchase some basic supplies but all in all, it’s not too expensive.
It’s also a good idea because one of the benefits of this type of business is that you and your sister can work together on designing and creating different, or the same, types of jewelry to please many customers’ unique fashion preferences.
You could divide sales channels between sisters. One sister could focus on online sales on your own website or on popular marketplaces such as Etsy and ebay. While the other sister could sell products at craft shows, and to retail stores. Remember the old saying divide and conquer? Each sister using her own talents can double your sales force.
Pet Sitting and Dog Walking Service
If you’re a sister and you both love animals, then it’s probably not too hard to start this business. You just need to advertise and create a good name for the company. Make flyers and print them out or make another website if you want. You could make a Facebook page and post pictures of your pets and tell people about the service.
You should be able to convince other pet owners that they can trust you to take care of their pets. If you have sufficient knowledge about animals, then people will feel safe with letting you watch over them.
Two, or more sisters, increase the labor force allowing you to increase clients and profits.
Shopping and Errand Service
Earning a living as an errand runner, you have the opportunity to earn a great income while still being home with family. This is because you can run your errands during hours that allow you to return home for dinner and also spend time with your children.
This type of business is perfect for sisters because it’s a low-stress, relatively passive form of employment that allows sisters to take care of their families without the worry of losing the other income from their jobs.
Successful Family Business Highlight: Chick-fil-A
The Cathys are the family that owns and operates Chick-fil-A, a successful fast-food business.
They’re a wealthy family that founded a construction company and is now worth $14.2 billion as of a recent study, making them America’s 21st-wealthiest dynasty, according to one publication.
Chick-fil-A generated $11.3 billion in sales in 2019.
First 4 Steps: How to Start a Family-Owned Business
There are many ways to go about starting your own small family-owned business, and it all depends on what you want out of the new endeavor. Some people want money for retirement or college funds while others desire more work/life balance. There is no right answer as everyone has different priorities and goals.
Here are the first steps to take to start your small family-owned business to help financially prepare for your future or give you more time with loved ones.
1- Develop Your Business Model – Pick a Family Business Idea
The first step to take is developing your business model. What industry do you want to be in and why? Once this has been established, it will help you determine what kind of product or service that needs to be offered as well as the pricing structure for those items.
2- Develop Your Business Plan
Once you have developed your business model, the next step is creating a business plan. This will not only allow you to share your goals with others but can also be used as documentation if any funding becomes necessary for future use.
Here are my articles on how to write a business plan to ensure your success:
FIY: How to write a business plan by yourself
3- Develop Your Marketing Strategy
After your business plan has been created, the next step is to develop a marketing strategy. This may be done with an in-house team or through contracted professionals depending on what you are most comfortable with.
4- Develop Pricing Strategy
The last step of the process is to develop a pricing strategy for your product or service. This will help you determine how much consumers are willing to pay and what margins can be made on each sale.
FAQ: Start a Family Business
What is the best family business to start?
The most successful family business to start is one in which your family members have prior employment experience and a genuine enthusiasm for the sector and industry.
Having prior work experience in the industry will ensure greater success in your small business since you’ll have prior expertise and training.
Furthermore, an eagerness in the market segment will spur you and your family members to work hard, keep learning, and develop new ideas.
Advantages and Disadvantages of Starting a Family Business
Starting a family business has its advantages and disadvantages.
Here are some of the potential benefits you might experience when starting a family business:
-You have an extended support system in which everyone helps each other out
– You can be more selective about who joins your company because they’ll be related to you
– You’re able to take care of your loved ones by providing them with work that suits their skills, passions, and abilities.
On the flip side, there are also some downsides to starting a family business:
-It’s hard for outsiders to join or understand what it is exactly that you do since there are so many different people involved
– It may seem like too much pressure on one person if they have multiple responsibilities at once
Learn more about the pros and cons of going into business with family in my articles:
A family business is a way to bring your loved ones closer together while also making some extra money.
You can start with these profitable ideas we discussed that are tailored for every type of family member – from mom and dad, partners, siblings, or married couples. These startup tips will guide you on how to get started in the right direction.
Don’t wait any longer! Start your new family business today by following one of these lucrative ideas for families to make money together.