Helping Franchisees Build Generations of Success
The Family Business Consulting Group's Family Business University is a unique program for family owned companies that are ready to take a professional approach to resolving issues of succession, ownership, family unity, and integrating the interests of family members and the business. Conducted partially through group education and partially through one-on-one consultation, Family Business University presents family business leaders with a roadmap for successfully managing:
Succession Planning/Exit Strategies
Conflict & Communication
How do Franchisors Benefit by Offering this Program?
Many franchisees are family businesses and deal with the same issues that other family businesses face - struggles with family dynamics, difficulty engaging the next generation and effectively preparing them for leadership, challenges with effectively balancing the financial needs of a family group with reinvesting in the company, and so on. Franchisors invest heavily in their franchisees' success, and once a successful franchise is in place, maintaining that momentum is a worthwhile goal.
Many businesses founded by Baby Boomers are nearing the time where the future of the business will be in question, and most family business leaders do not know how to lay the foundation for transition to their children and beyond. Indeed, before that transition is even possible many franchisees will struggle with issues within the family that will interfere with their ability to run the operation. Without guidance, their companies will continue to struggle with predictable, avoidable family business challenges.
Providing the Family Business University program, either subsidized or at the expense of the participating family, connects family businesses with much-needed structure and support to help them ensure their business continues successfully into the next generation.
Who Should Attend?
The Family Business Consulting Group's Family Business University is designed to facilitate open discussion and consideration of critical issues around professionalizing the family business. The vast majority of family owned businesses are in need of guidance in developing plans that support both the business and the family. Even businesses that have estate plans and/or an identified successor typically face challenges within the family around those decisions. Family businesses will find this program hugely valuable.
Any business with two or more family members involved in the operating company or in shared ownership that has not already created comprehensive plans that address succession, family dynamics, family policies, communication, rights and responsibilities of owners, and other related issues should attend.
What Makes Family Business University Unique?
The Family Business University concept is based on the following conclusions we've reached after working with family businesses for twenty years:
Family business challenges are complex and emotional to deal with.
Families often put off dealing with these challenges because they don't see a clear way to resolve them.
Education is necessary to help families understand the issues at hand, but education alone will not help them to act.
Families need to see specific cases and information relevant to them in order to begin productive thinking around challenging decisions.
Beyond information, families need one-on-one guidance, support and accountability to move them forward towards successfully managing the needs of both the family and the business.
With these important lessons in mind, The Family Business Consulting Group's Family Business University helps families by providing all of the education that they need, customized for their industry, business model and common strategic issues, coupled with expert consulting and coaching to help them through the process of creating and implementing initiatives that will support their family's needs. The Family Business University model allows a group of businesses to achieve, over the course of approximately one year, huge progress towards securing their business continuity. And because much of the learning is shared, it does so at a significantly reduced cost in comparison to working with a consultant for the entire process.
What is the Program's Format?
The program includes a combination of:
Initial interviews with a member of the faculty to ensure course content meets their needs.
Group in-depth education and facilitation 3-4 times over the course of the year.
Resources, exercises, articles and other readings to support the learning.
A relationship with a dedicated family business faculty expert to provide one-on-one guidance and consultation throughout the process.
The program structure and content is flexible and will be customized to the needs of the group.
How does my Organization Launch this Program?
The easiest way to get started is to contact us to schedule a discussion about your organization and your goals for this program. There is no obligation, and we are happy to answer any questions you may have. We look forward to hearing from you!