Family Business

2 Family Business Success Stories [2024]

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Updated: September 22nd, 2024

Ever thought about leveraging family strengths to build a business? A family business might be the way forward.

This concept involves family members pooling their skills, resources, and time to create a business grounded in mutual trust and shared vision. Whether it’s a local bakery, a boutique consultancy, or a small manufacturing unit, the operations are driven by family unity and commitment.

The appeal here is multifaceted: you get to work with people you inherently trust, tailor responsibilities to individual strengths, and collectively reap the rewards. Of course, managing personal and professional dynamics simultaneously requires careful planning and clear communication, but the payoff can be immensely satisfying.

Delve into a family business if you crave a blend of entrepreneurial spirit and familial bonds. It's a journey that calls for dedication and harmony but offers the prospect of creating a lasting legacy.

In this list, you'll find real-world family business success stories and very profitable examples of starting a family business that makes money.

1. Blindster ($36M/year)

Kyle Cox, Founder and CEO of Blindster, came up with the idea for his business after purchasing blinds for his new home and realizing that the existing online shopping experience was lacking. He saw an opportunity to create a true eCommerce experience for custom window treatments and provide exceptional customer service. With $50k in initial start-up costs, Blindster launched in 2010 and has since achieved tremendous growth, with record sales of $39MM in 2020.

How much money it makes: $36M/year
How much did it cost to start: $50K
How many people on the team: 30

I Built A $36M/Year eCommerce Selling Window Blinds

Blindster, a leading custom window treatment eCommerce retailer, achieved record sales of $39MM in 2020, experiencing a 60% increase over 2019, by focusing on over-the-top customer service with a six-week training program for customer service reps and a Fit-or-Free guarantee, among other marketing tactics.

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2. Innovation Plumbing ($480K/year)

Innovation Plumbing, founded in 1991 by Bill Tomasetti, started as a subcontractor for restoration contractors and has since evolved into a trusted plumbing expert for insurance carriers. With their expertise in leak detection and adoption of cutting-edge technologies, they have built a devoted list of repeat customers. The company aims to expand its operations across California and eventually nationwide while maintaining the feel of a small family business.

How much money it makes: $480K/year
How much did it cost to start: $7K
How many people on the team: 1

I Run A Family Plumbing Business That Makes $40K/Month

A second-generation family-owned plumbing and leak detection business shares their success in obtaining repeat business through word of mouth referrals, staying true to their core principles, and using cutting-edge technology to provide top-notch service to clients.

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