With Valentine’s Day still fresh in the rearview mirror, we thought we’d delve into why couples make good franchise owners. Presumably, if you and your significant other share the same outlook for your future and your finances, you may have considered owning a business of your own someday. If teamwork really does make the dream work, would franchise ownership be a beneficial route?
We’re going to show you why it’s a great idea.
Before we get to the advantages of couples who own and operate a business, let’s take a moment and explore why going it alone could be a costly mistake:
BIG Decisions…
Choosing the entrepreneurial path in life shouldn’t be decided on a whim. It takes a careful amount of thought, consideration and planning to pull it off. No doubt you’ve heard the old phrase, “If momma ain’t happy, ain’t nobody happy.” If your significant other isn’t on board when you decided to take that leap of faith, expect to deal with conflict. Buying a franchise to own and operate successfully is a big decision. It shouldn’t be taken lightly. And it requires buy-in from your partner and family to give you the best chance of success.
Money Matters
If you don’t already know, arguments about money and finances are the number one cause of fights, separation and even divorce in the U.S. And the decision to buy a franchise requires a serious financial commitment. If and when you decide that franchise ownership is right, make the decision as a couple and use the power of your commitment to one another to fuel your success.
Now to the good stuff…
Research data from the Survey of Business Owners, authenticated by SCORE, recently revealed that almost three percent of all businesses in the U.S. are franchises—and married couples run approximately 1.2 million of them. One out of every five businesses is family-owned. These strong numbers are back up the reasons couples make good franchisee owners:
Proven Business Models
Franchising is an advantageous route to business ownership because of their proven business models. A lot of careful consideration goes into the operations manuals to enhance your ownership success. 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.
Some Helpful Advice
To jointly run a franchise operation, it takes teamwork—the same kind that keeps your partnership commitment strong. Lessons learned in your relationship should extend to your new lives as business owners. Support one another, but also hold each other accountable. Conduct your affairs and interactions with dignity, respect and encouragement. Stay balanced. Set reasonable boundaries, so that your work life doesn’t intrude on your personal relationship. Face challenges together—and just the same—celebrate your successes.
Couples make good franchise owners. At FranNet, we know this from experience. A great deal of our clientele comes to us as a couple—participating in the full franchise investigative process. Every consideration, every decision, is evaluated and made as a couple. It’s encouraging to see those who have entered franchise ownership together thrive with success.
Knowing they’ve taken a huge step towards achieving their financial goals and desired lifestyle is a bonus. If the idea of investigating franchise ownership as a couple appeals to you, don’t delay—contact us today!