In this article we are going to talk about the Top 10 Good Family Business Ideas. Family is the most prominent part of our lives. No one can ever understand us, as our family do. Upholding the values of the family are the things that I think everyone should do. People should spread the values and traditions of their respective families. So one way where people can disperse their family’s traditions , practises, values , customs is that by doing a family business.
Family Business can be a business that once started by your ancestors and the same businesses continued by the next generation and it never stops as it will be passing on to the coming generations of same family. Family business can be done either with the help of same family members or maybe not. family business may also be the business that is being done with the help of the family members with the family is everything such as directors , manufacturers, supervisors , sellers , workers are all the members of the same family.
Top 10 Good Family Business Ideas
Here are some of the top ten good family business ideas to start.
1. Farming and agriculture
Farming and agriculture is in my top of the list because many of us would have acquired the land from our ancestors and I think farming and agriculture is very basic as Indians , most of us are dependent on it. Agriculture is a very vast concept and there is a lot of space for innovation and creativity. Farming and agriculture with using the right technique and decisions is not less than any of the major business. It is very good option for the family business as it is more flexible and it involves the members of the family And there is more chance of being successful.
Nowadays we can see that youngsters are very much interested And enthusiastic about the agriculture due to its flexibility and space for using their own techniques and knowledge. So when you think of starting a family business the most ideal option is farming and agriculture.
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2. Hotel, restaurants and eateries
As I discussed in the introduction , spreading the values, traditions of one’s family triggers the point to start the restaurants or hotels. As of my knowledge most of the family business are into this category of business. Many of us have a grand mothers or mothers preparing the recipes and cuisines with their unique ingredients which we will not find it elsewhere, that has always the place in our heart . So these unique recipes and ingredients can be used to start the hotel or Eateries. Many of the customers prefer unique taste and also many of us are always drawn to the hotels or eateries that we find that the particular recipe or the cuisines are only available in that Specific place.
Our families might have specialisation in preparation of unique sweets or salads that can be used as a major factor to start a hotel or eateries this business can be a major start and can be successful keeping in mind the way you provide customer service, its location , originality, pricing etc.
3. Local store
This is the basic and simple business option. it can be started with the minimum capital and with few members or can be continued easily if it was started by any of our ancestors. It does not require a any extra effort. The local store contains the basically needed items such as rice, snacks , beverages etc. Some of the locals stores are particular and specific In the items they deal with such as, a local store that deals only with spices, another local store that deals only with beverages or cosmetics etc.
The local stores consistency depends on the locality, availability of customers, suitable price and so on. The local store has some benefit as some customers are very adapted to the store so that they 9become the loyal customers. They also even tell and suggest about the store to others. Through this local store we can build a good rapport with the local customers. And this might be very beneficial in running a more successful business.
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4. Library /bookstore
Library is one of the good ideas in starting a family business. Personally, I know some of the libraries in my localities which my grandmother used to visit since her childhood and now it still continues so the I am also a regular visitor. The libraries which were started from the elders or the ancestors of the family continues till date. the books which has been laid up in our homes or the books which Has been donated for us can be used to start the library or the bookstore. And also we can earn by renting out the books we have. Though this business doesn’t come under high profit category, it brings a sense of satisfaction and heart-warming feeling and it can be done as a part time business as well.
5. Bakery business
Though this comes under earlier discuss category of hotel restaurants and eateries. I would like to explain this separately because personally I have seen people doing this business and being more successful than hotel and restaurants. Many people like me are ’sweet tooth’ and crave for the sweets and delicacies. The major factor in doing this business is the taste which people are attracted to and are a big fan of. The generation old taste is also the main important thing in being successful in this business. This business can be started with the help of the members of the family who knows to cook and also can be continued from ancestors which specialise din serving the people with unique taste of the sweets and delicacies.
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6. Home rental
This is the most inexpensive way of earning income . Though it is not a typical type of business but gives us a decent amount of income. Our residential homes might have constructed by our elders or ancestors through that we can give the constructed house to people who agrees to pay rent the monthly or quarterly basis. This assures of guaranteed income for us. Door this involves maintaining charges as any repairs or damages has to be beard by the owner itself other than this , it is a really great way of starting a family business.
7. Conducting tuitions or online classes
This is also a very easy and efficient way of starting a family business. if all the members of a family are educated, then each member can take up a specific subject of their interests and start to conduct tuition classes at the comfort of the home, where children are supposed to come at particular time to your home and start learning or even a member of a family goes to the students home and start teaching the students. Tuition now is different, moment of people has come to an halt. So the gaining popularity is the online classes or online courses. Anybody can sign up as a teacher in different apps and platforms and can start your own courses and can fix up a certain price for that courses. So the online courses or classes will become the next big thing.
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8. Musical shows
This might look as unconventional but there are many families whose members are all into the music . The members of family are trained musician and also singers .The family gives the music shows and special occasions like wedding, festivals or the reality shows ETC . The issues are very much confined to the classical musical genre. This is a great family business idea for the traditional families who wants to showcase their talent as well as this business earns a lot of income as well.
9. Plant nursery
This is more of a hobby related business. this business is also easy to start with minimum Capital and a little information about plants, soil ETC. It can be started in a small place and this can be also started as a hobby by learning and gaining knowledge about different kinds of plants , how much sunlight do they need , how often they need to be watered etc. And then this hobby can be taken for the as a business with the help of family members. You can even enter into online platforms, create your own website and start selling it. After sometimes this business might end up into a successful one as the customer increases.
10. YouTube channel
This is one of the major and the biggest platform where you can start a family business. We may have a family where everyone is unique and different in their level of knowledge and interests so these can be turned into a business. For example, mothers in our family Working there our are interested and skilled in cooking. Container so they can start a cooking videos at home.
They will be celebrating the father and the family might be more interested in general knowledge and current affairs so he can start a YouTube channel on that topic. the children might also be very interested in editing , animation, Photoshop ETC . They can help you making up videos with the help of their skills. So this business can be very profitable business in the long run. Are you can bring up a more creative and innovative content in the already started YouTube channel.
So these are some of my ideas on which the family business can be started. So you can choose any business according to the family decisions , conditions etc.