Setting up any business can be tricky, let alone one with your partner. As you can imagine, making the commitment to work together, as well as spend your time together outside of work, can be challenging. However, there are numerous benefits to going into a business with your companion. BabyBallers founder and MD, Rich Elms, believes operating a franchise with your partner is an excellent idea as it allows you to use different skill sets to grow your business. He gives three benefits of running a franchise with your partner
Whether you are looking for a new challenge, want to become your own boss or facing retirement and want to keep a steady income coming in, franchising is a great solution. However, franchising with a partner could be an even better one. Why? Well, quite simply, two heads are better than one. Working with your partner not only gives you someone who can share the workload of starting your own business with you, but it also means that you can pool your resources, skills, and experience together. So, here are my top three benefits of starting a franchise with your partner.
1. Two heads are better than one!
Buying a franchise is a nerve-racking life decision and should involve plenty of research. However, going into it with your better half means you will have a fully supportive teammate throughout the process. In fact, I would say that sharing a passion that you both feel strongly about can bring couples even closer together.
Your business is likely to be more successful if you share a passion and you are sure that what you want to do can be channelled into a sustainable business. You can also make more money by working together because you can save on staffing costs. If you think about it, no one will care more about helping to grow your business than someone equally invested in it. You can work toward common goals, such as the number of clients you would like to acquire and the amount of income you want to achieve each year.
To make sure your goals are aligned, check in with your spouse from time to time to make sure that you are on the same page. Never forget that the most important thing is each other. If tweaks are required to your business goals, make them.
2. You can complement each other’s skills
When running a franchise with your partner, it is important to remember that you are both individuals and have different strengths and weaknesses. You do not have to do everything together, and by dividing your tasks accordingly, your business relationship is likely to thrive.
I recommend taking time to find out each other’s working styles, strengths and weaknesses. The truth is, everyone has their own working style – or strategy – for optimally performing while at work. So, learning how each of you operates is the key. Some things that work for you will not necessarily work for your partner, and respecting this is hugely important.
Dividing roles to complement your skill sets is also essential when running a franchise with your partner. At BabyBallers, for example, if one partner is better at administration, emails and client communication, then booking venues and organising class schedules is perfect for them. If the other is more of a performer and enjoys client-facing, then they are the ideal fit to become a coach. Play to your strengths. By learning to compensate for each other’s weaknesses, leverage each other’s strengths and work together in the spirit of cooperation, your business will benefit – and so will your personal relationship.
3. You have a trusted (business) partner
Your spouse is the most trusted partner you can have when running a business. You can discuss anything and everything with them without having to worry about revealing business secrets or getting bad advice. Businesses will often fail because the business partners lose their trust in one another, which then leads to more issues and further conflict. However, with your spouse around you, you know you can trust each other, being fully aware that you have each other’s best interests at heart.
Hear from the experts
At BabyBallers, we have a number of franchisees who are experienced in operating franchises alongside their partners. Nicola and Richard are BabyBallers’ first franchisees in Northern Ireland. After seeing the potential of BabyBallers, the duo decided now was the perfect time to combine their skills and open a new business they were both passionate about.
“One of the main reasons we invested in BabyBallers together was because a lot of clubs don’t start until children reach the age of five,” said Nicola. “We recognised a gap in the market over here for clubs that accommodated children 16 months old to five years old, so BabyBallers was the perfect fit. Richard is passionate about football and didn’t want to go back to office work, so we decided to pool our skills and go into franchising together – we haven’t looked back since. I have skills in HR and administration, while Richard knows everything football. Combined, we are quite the team.”
Richard said, “My advice to running a successful franchise with your partner would be to stick out of the way and do what you’re told! I’m joking, of course, but it’s important to respect each other’s roles. We established each other’s positions early doors and have stuck to it. We also don’t bring work home with us. I think it’s important to understand work is work and our downtime is just for us.”
Shantelle and Danielle, who run BabyBallers in Basildon and Hatfield, said, “When starting out in franchising with your partner, you need to know what you want to get out of the business. I had been working with BabyBallers before Danielle, but once she saw how good the business model was, she wanted to get involved. Because I already had experience in the business, I found it difficult to share roles and tasks to begin with and started to feel resentful because I felt I was doing more work. However, I wouldn’t let her do more. Trusting your partner is so important and when your business feels like it’s 50/50, it’s so much better.”
Of course, co-owning a business is not for every couple. It requires combining your business and personal lives, equally sharing power, and setting reasonable boundaries so you never let a business dispute become a personal one. Husband-and-wife teams often purchase franchise businesses, and this can be a perfect opportunity for couples to work together and work towards a common goal. Challenges may come along the way, but the rewards can be amazing.
