Aussie families turning to franchising to create generational wealth: parents, kids, grandchildren

Announcement posted by Invigorate PR 27 Mar 2025

As the cost of living continues to rise and traditional career paths become less appealing, more Australian families are turning to franchising as a pathway to generational wealth and family succession planning. From parents and adult children to cousins and nephews, families are building business empires together and no one exemplifies this growing trend more than Jim's Group.

With some 5,500 franchisees and franchisors nationwide, Jim's Group now holds the highest number of multi-generational franchise businesses in Australia.

A compelling example of an incredibly successful multi-generational family business is the Regional Franchisor for Jim's Mowing division in outer northern and western Melbourne, John Formosa. John began his journey as a franchisee working for himself and now owns an entire
region and has grown it to almost 100 franchisees. John and his wife Vera worked in their franchise for eight years together and his sons worked in his franchise business while still in school, learning the ropes and seeing firsthand the earning potential and lifestyle flexibility the franchise offered.

When the opportunity arose to purchase a large franchisor territory, John and his wife seized it and his sons followed suit. In their early 20s, Jack and Ben launched their own Jim's Mowing franchises under their father's and mother's guidance, confident in the system they had grown up around.

"That's the great thing about franchising. It offers guidance, support, marketing and leads - everything's there. You don't need to figure it all out on your own. You just get out there and deliver the service. There is so much support and it makes it achievable even for young people starting out," Formosa said.

Today, John's wife, sons, cousin and nephew all proudly operate within the Jim's Mowing family.

"People say never work with friends, family or animals," Founder and head of Jim's Group, Jim Penman said.

"But in our world, that rule just doesn't apply. Many of our franchisees run thriving businesses with their partners, children, siblings and yes, even with their dogs in the passenger seat. Our Jim's Dog Grooming division is one of the most popular in the country. The Jim's model is uniquely suited to collaboration and family success."

The appeal is clear: Jim's Group franchises offer low overheads, full autonomy and built-in brand power. Families can operate independently or as a team, supporting each other while growing side-by-side and passing down businesses through generations.

"Franchising isn't just a job, it's a long-term investment and a lifestyle. My sons saw what was possible early on and now we're all building something bigger, together," Formosa added.

"Our role in the business has evolved as well. We no longer spend time on the tools. We are more involved in managing our regional business and supporting our franchisees.

"While we don't talk too much about business over family dinners and get-togethers, we do keep in regular contact and have a special sense of comradery and connection because of our shared Jim's Mowing passion.

"I am proud of my boys and I am incredibly lucky to have been able to provide them with a life changing opportunity to get involved in a franchise business that cares about its people, offers significant growth and enables them to enjoy a flexible lifestyle. This is good for your mental health as well as your family."

As Australians search for financial security, flexibility and meaningful work, family-based franchising is booming and Jim's Group is leading the charge in turning small businesses into family legacies.

About Jim's Group

Jim's Group was founded by Jim Penman in 1989 and now has some 5,550 franchisees in more than 40 divisions. It is the largest franchise chain in the Southern Hemisphere.