Don’t look now, but Wednesday is Valentine’s Day and it’s approaching fast for all you men out there still lacking a plan. Pro-tip—make sure the florist shop on your commute home stays open past 6 p.m. on weeknights and you should be fine. In all seriousness though, Valentine’s Day is a big deal. Fortune Magazine wrote a story last year estimating the financial aspects of the couple’s holiday. According to the National Retail Federation (NRF) we spent $18.2 billion in 2017. Breaking down that number, over $4 billion went to jewelry purchases and $2 billion was spent on flowers. All in all, consumers spent an individual average of just under $150 apiece.
Now to tie this romantic holiday to franchising…is entrepreneurism a “couples friendly” business opportunity? First off, it goes without saying that FranNet highly recommends spousal or partner support before beginning an entrepreneurial journey. It’s extremely important to be on the same page as a family when investing in a business of your own. So, for inspiration, we thought we’d put the spotlight on a few couples who made the entrepreneurial leap together—and flourished.
Inspectors with Gadgets
Paul and Heidi Ferguson came from a home remodeling background. While they did their best to become the next Chip and Joanna Gaines’ Flip or Flop devotees, they feel short—and behind on payments. Almost at the end of their financial rope, they found salvation in a home inspection franchise. It took a $30,000 initial investment, literally down to their last dollar, but they claim it was the best decision they ever made. They’ve been in business for almost 20 years and are happier than ever after entering the franchise world.
Wings and Things
For a couple who always subscribed to the team approach, Todd and Audra Fetter hit the jackpot when they entered franchising as owners of a restaurant operation. They started with one franchise, have grown it to eight locations and are planning two more in their native state of Ohio. They credit their success to the one-two punch of combined strengths. He handles site locations, construction and oversight and she handles the day-to-day business operations. The Fetters were just named Franchising.com’s 2017 MVP Influencer Award winners. Now that’s a recipe for success!
The ”Art” of a Deal
Meet Tyler and Veronica Jordan. She was once a 9-to-5 office drone until she couldn’t take it anymore. She researched and found a creative outlet in franchising. It’s an artwork class with a social twist (wine drinking!) which has brought both happiness and prosperity into their lives. They now have three studios and employ 15 people. And for this couple, it all began with a $15,000 startup fee to land a franchise of their own.
These three stories were carefully selected to showcase how couples can work together in a franchise setting while making all their entrepreneurial dreams come true. Many people are of the belief that it’s a bad idea to work with a spouse or partner, but the evidence—at least in the franchising world—seems to buck the trend. That’s likely because your internal support system is so important to achieving success in becoming a true entrepreneur.
If you and your significant other happen to have a chat over a romantic dinner this Wednesday night and the topic strays into owning a business of your own, act on that information and give us a call for a no-cost, no-obligation visit. FranNet would love to help you begin a couple’s entrepreneurial journey of your own!
Happy Valentine’s Day everyone!
Let’s chat! There’s a local FranNet consultant right in your market who knows that market inside and out – knows the personality of the market – knows the competitive landscape. FranNet has a great track record of assisting individuals on their path to entrepreneurship, and one of our franchise experts would love to provide you with guidance free of charge. Sound like something you might be interested in? Get started here and find your local consultant right now!