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The family business occupies a central place in the economic fabric of France. The objective of this research is to contribute to understanding of family businesses in terms of performance objectives and governance mechanisms, while also considering the practical purpose served by the owner-manager. In light of the management science literature, the study of family businesses is acquiring a particular interest for researchers as well as practitioners such as family shareholders. To this end, this study is based on a sample of 117 unlisted French family businesses that are majority owned and/or controlled by family members. Data collection followed the purposive sampling method. After analysis, the results show that the owner-manager plays a pivotal role in the implementation of the family business’s strategies. With regard to the satisfaction of the business-family system, we show that such businesses adopt a broad range of performance goals and that there exists a two-way split in governance mechanisms.