There are many reasons why family-owned businesses are a better choice than big, faceless corporations. Not only do they offer a more personal experience, but they also tend to be more invested in the community. In this short guide, we want to go over some of the main reasons why we should all support family-owned businesses this year.
Personal Experience
As mentioned in the introduction, one of the main reasons you should support family-owned businesses is because they offer a more personal experience. When you walk into a family-owned store, you are usually greeted by the owner or a family member. This personal touch can make all the difference, especially if you are looking for advice or guidance – normally, it’s easier to speak to a knowledgeable and experienced person in a family store.
Support a Family in the Community
Rather than sending money to a large corporation, supporting a family-owned business helps to keep money in the local community. The more money that circulates within the community, the better off the local economy becomes. When you buy a car part or accessory from Bossco Auto, for example, you’re helping to put food on the table for somebody else in the community.
Family-Owned Businesses Give Back
Since family-owned businesses are more likely to be located in the communities they serve, they are also more likely to give back. They may sponsor little league teams, support the local food bank, or donate to other causes that are important to them. What’s more, they also spend their disposable income on other local businesses (this could include yours!).
You Become a Valued Customer
When you shop at a family-owned business, you become more than just a customer; you become part of the family. The owners get to know you by name and they learn what you like. As a result, you feel appreciated every time you visit and you’re more likely to keep coming back. For instance, imagine a family-owned restaurant where the owner greets you by name and asks about your day. Now imagine a chain restaurant where the employees barely make eye contact with you, let alone know your name.
Passion and Values
Next, family-owned businesses are usually started by people who have a passion for what they do. They’re not just in it for the money; they truly believe in their product or service. They want to provide the best possible experience for their customers, and they’re always looking for ways to improve. A local carpenter, for instance, takes pride in their work and wants each customer to be happy with their finished product.
Longevity
Typically, family-owned businesses are passed down from generation to generation. That means they have a vested interest in the community and its long-term success. They’re not going anywhere, so they’re more likely to stand behind their work and ensure that their customers are happy. On the other hand, businesses that are answerable to shareholders are often more interested in short-term profits and may not be as concerned with customer satisfaction. In turn, they could close a branch at the click of their fingers and leave customers in the lurch.
How to Find Family-Owned Businesses
With all these reasons in mind, how do you find family-owned businesses? Here are a few tips:
- Check out the business’s website or social media pages – many times, family-owned businesses will mention that they are such on their website or social media pages.
- Look for businesses with the owner’s name in the title – this is a pretty good indication that the business is family-owned.
- Do a quick Google search – If you’re unsure about a business, do a quick Google search. Often, you’ll be able to find information about the business’s ownership pretty easily.