The U.S. economy is largely dominated by the family-owned business. In fact, 64 percent of the country’s gross domestic product comes from family-run enterprises, and a third of the top businesses in the country listed in Fortune 500 are family-owned and -operated, including the household name Walmart, which also ranks among the world’s biggest family-run brands.
If there’s anything that these numbers tell us, it’s that the American buyer puts great trust in brands that are run by families.
And it seems the U.S. is not alone. One global survey found that consumers trust a family-owned business more, with family brands edging out non-family-run businesses by 30 percent premium.
For good reasons, too. We’re the only family-owned linen and uniform rental business operating in our service area, and we can tell you – it makes a difference. If you’re looking for a business to partner with, here’s why family-owned businesses are the best to work with:
This is perhaps one of the most significant reasons for the success of some of the most enduring family-owned businesses, lasting several generations. When businesses are designed to last and are built on the family name, more often than not the organizational design undergoes fewer shakeups and drastic shifts. With the leadership expected to be in the hands of one family member for a long time, its clientele can expect for the business to stay the same for a long time as well. On the other hand, with non-family businesses, long-term goals can only go as far as the term of its current leadership.
With this much stability, your business knows exactly what to expect from a partnership – which lends you, the customer, something to lean on, especially for the long-term.
No other kind of business model banks on personal relationships more than that of a family-owned business. Their more personal approach to running the business translates not only within the organization’s management but also in the way they deal with their customers. With the priority of people over policies coming into play in their customer services, they are likely to be more approachable and relatable to customers than their non-family business counterparts. When they do business with you, they focus on building a lasting relationship so you can expect them to take care of your particular needs and give you a familiar, friendly treatment over a strictly business treatment.
The success (or failure) of a family-owned business is forever tied to the family name. Therefore, the members of the family involved in its operations have more at stake than non-members. They are more protective of their business and of the kind of impression they leave on every customer. That is why you can expect these family-run enterprises to work harder on meeting their quality standards. Quality and reputation go hand-in-hand in any business. But someone with a legacy to uphold and maintain for the next generation in the family will work harder and go the extra mile to satisfy the customer.
With so much at stake, and a personal affinity for the business and its reputation, family-owned businesses like Ideal Linen go the extra mile to uphold the family values that their founders built the business on. We are the only family-owned operation in our service area, and that means something to us.
The highest standards of quality are applied in every part of the operation – from the superior product line to the state-of-the-art facilities to the very people manning every department – all to ensure the best results.
Experience the difference of a family-owned and -operated linen management service with Ideal Linen! Contact us today at 800-658-4047 to get started.