According to data compiled by Statista, the percentage of people working from home five days a week jumped from 17% before COVID, to 44% afterward. In many cases, both spouses were fortunate to share a home office together—offering an in-depth glimpse into each other’s job role and responsibilities. Many couldn’t be happier with the arrangement, with some even going so far as to call it a “dress rehearsal for retirement.”
If you’re one of the fortunate couples who have had the chance to work together remotely, what have you discovered about each other’s working habits? Could you imagine working together? This time, at the helm of a jointly owned business? If you’ve ever harbored the idea of one day owning your own business and operating it as a team, we’re here to share why couples make great franchise owners.
Recent research authenticated by SCORE indicates that almost three percent of all U.S. businesses are franchise operations—and married couples own approximately 1.2 million of them. And a full 20% of all U.S. small businesses are classified as family owned. Here’s some evidence to consider why couples make great franchisee owners:
Teamwork Makes the Dream Work
Franchises are set up according to rigid standards of operation. There are multiple duties, assignments and roles that make the business run smoothly. But the biggest factor in determining success is teamwork. Every aspect of the franchise business operation needs oversight, and couples often take to this environment with the same instincts that lend themselves to a healthy partnership together.
Proven Business Models
Franchising requires adherence to following proven business models. And many of the roles in operating the business are perfectly suited for two owners. Duties and responsibilities can be split up and directed to one another’s strengths. Just like marriage, the system is designed for you to have each other’s back. Find and assign operational oversight according to one another’s strengths and weaknesses.
In a jointly run business, it’s advisable to set regular meetings to assess progress. Just as you would meet to discuss your household budget and consider adjustments, you should conduct the same regular assessments with your franchise. Be mindful of disagreements involving finances. While you may face challenges, approaching and overcoming obstacles together will always be the proper course of action.
If you’re all in for 2021 and want to begin an entrepreneurial journey as a couple, FranNet of Dallas-Fort Worth and Oklahoma can help. We’ve helped dozens of couples find the perfect franchise ownership opportunity and we can do the same for you.
To begin your Entrepreneur Readiness Profile, please reach out and schedule a no-cost, no obligation meeting with us. Together we’ll find and match you with a franchise that meets your standard of business ownership and lifestyle goals.