Families in Franchising
Got a super-mum, driven-dad, stellar-sister and/or determined brother? Why not join forces? What about extended family? In-laws? Cousins? Are you sitting on a wealth of talent who could help each other sustain the momentum required to launch a successful franchise like MagiKats Maths and English? Franchising together means supporting each other, which is one of the basic ingredients for being successful in franchising. That’s why the business community is taking notice.
What is a Fampreneur?
In this age of business-speak we say get more “bang for your buck” and don’t take a “shotgun approach” to your accounts. The latest, and greatest neologism for business is the word “Fampreneur”. Short for family entrepreneur, it’s a growing trend that has taken the business community by storm.
There are now awards for top family entrepreneur groups. Our very own MagiKats won "Fampreneur of the Month" (awarded by the website businessesforsale.com) in 2016. We had some stiff competition, as Nicky Tatley writes in businessforsale.com;
Family businesses account for a healthy 66 per cent of the UK’s small and medium sized enterprise (SME) population and include many examples of the best of British industry.”
One of the top reasons families go into business together is to combine business experience, according to Rufus Bazely, Marketing Director at businessesforsale.com:
Fampreneurs are also highly qualified for each job, with impressive sector experience and general high-ranking corporate roles” making the franchise they choose to go in to “primed for success”.
Being a Fampreneur Family
Interested in how this works? Our Director of Operations, Sarah Marsh talks to Eagle Radio about the Fampreneur Award, running the MagiKats family franchise business, and how as a family you can launch your own business. She describes how MagiKats began, and how it is now the combined effort of two sisters and their parents. She tells how MagiKats has grown into a national franchise, with several international MagiKats franchises around the world. All together, there are 28 centres.
Representing Women in Franchising
According to the British Franchise Association 30% of franchises are owned or run by women. Compare this with 15% of other types of businesses, and it is clear that women succeed when involved in franchises that provide a supportive network.
As member of Encouraging Women into Franchising (EWIF), Sarah passionately believes that the MagiKats model is perfect for women because it offers flexible working, providing “the chance for women, especially those with children, to run their own business with the support of a franchise network behind them.” This makes the MagiKats lifestyle a perfect fit especially for mums who need to balance family life and hours worked.
Has your family got what it takes to be Fampreneurs?
At MagiKats, we’d love to hear from you if interested in becoming franchisees as a family. Why not browse our page: An Education Franchise for Life and see why MagiKats is a wonderful education business to run with your family? We would be delighted to offer you the support and guidance you need to run a successful education franchise with us.
From the (family) team at MagiKats HQ