It’s often said that you should never go into business with family. But what if this conventional wisdom is a bit off the mark, especially in the food industry?

Our commercial kitchen rental space has been thriving for over 7 years, and we’ve found that some of our most successful ventures have been family-run businesses. Here’s why you might want to consider going into business with your loved ones when launching a food product:

1. Shared Values and Goals:
Alignment:

Family members often share similar values and life goals. This can lead to a strong alignment of vision and mission for your food business.

Unwavering Support:

When the stakes are high, family members are more likely to provide unwavering support and encouragement, even during challenging times.

2. Trust and Transparency:
Foundation of Success:

Trust is the cornerstone of any successful business relationship. Family members often have a pre-existing level of trust that can streamline decision-making and problem-solving.

Open Communication:

Family dynamics can foster a culture of open communication, allowing for honest feedback and constructive criticism.

3. Dedication and Commitment:
Personal Investment:

Family members often have a deep personal investment in the success of the business. This can lead to increased dedication, commitment, and a willingness to go the extra mile. Reliable help in the food industry is especially difficult to find, so if your food business grows faster than expected, and you need more hands in the kitchen, consider asking family for their help first, before posting a job ad.

Generational Legacy:

For many families, starting a food business can be a way to create a lasting legacy for future generations.

4. Shared Resources and Networks:
Leveraging Connections:

Family members can often leverage their personal and professional networks to help your food business grow and succeed.

Pooling Resources:

Combining financial resources, equipment, or expertise can significantly reduce the startup costs and risks associated with launching a new venture.

5. Strong Work Ethic and Values:
Family Values:

Many families pass down strong work ethic and values from generation to generation. These qualities can be invaluable in building a successful food business.

Shared Responsibility:

Family members are more likely to take ownership of their roles and responsibilities, leading to a more cohesive and productive team.

While going into business with family can certainly present challenges, the potential benefits can be significant. Here at In Good Company Kitchen, a commercial rental kitchen in Oakville, family businesses have proven year after year that no matter the state of the economy – through inflationary pressures and even pandemics – they have the commitment to pivot their food business pursuits in whatever direction it takes to find success.