Spending quality time with your partner is a cherished experience for many of us. While there’s no inherent stigma attached to couples going into business together, there can be challenges and perceptions which stop some partners from taking that leap. However, a recent survey reveals that since the pandemic, 24% of people are more likely to consider starting a business with their other half1.
Franchising presents an ideal solution for couples grappling with whether they should go into business together. Franchising offers a proven business model, access to a robust support network and a structured framework for managing operations, allowing couples to leverage their combined skills and experiences within a stable business environment.
The advantages of going into business with your partner
With more openness towards couples starting businesses together – what are the advantages for doing so? Here are the top five key advantages:
Shared vision and goals
Couples often have similar values, goals and aspirations, which can create a strong foundation for going into business together. A common vision facilitates clearer decision-making and a shared desire to work towards shared objectives.
Improved communication
Effective communication is vital in any business partnership and couples will be used to communicating regularly due to their relationship, fostering open dialogues, constructive feedback and problem-solving, resulting in smoother operations and stronger teamwork.
Trust and understanding
Trust is essential in business, and couples have a high level of trust and understanding built up from their personal relationship. This foundation promotes transparency, reliability and mutual support during challenging times.
Complementary skills and strengths
Each partner in a relationship brings unique skills, strengths and experiences to the table. By combining abilities, couples can create a well-rounded duo at the head of the business, successfully overseeing operations, finances and customer relations.
Work-life balance
Collaborating in business enables couples to manage work and personal life with more flexibility, facilitating a balanced lifestyle that accommodates both career and family commitments.
These advantages can contribute to a successful partnership, enabling couples to navigate challenges, seize opportunities and achieve your business goals, together.
Why is there a negative perception surrounding going into business with a spouse?
While there are numerous benefits, partnering with your significant other in business often faces scepticism due to the blurring of personal and professional boundaries – but why is the case?
Primarily, scepticism arises from concerns about conflict of interest – a clash between personal and professional life – with the potential for emotional involvement affecting decision-making.
Critics may worry that disagreements or tensions within the relationship may spill over into the workplace, causing disfunction and instability. Moreover, there’s a fear that couples may struggle to maintain objectivity, hold each other accountable and avoid favouritism, compromising the success of the organisation. Though not universal, these perceptions emphasise the importance of a robust business model – one potentially provided by franchising.
Falling for franchising
Franchising serves as a means to alleviate the challenges of couples collaborating in business. By effectively tacking typical concerns linked to partners in business, franchising diminishes worries such as blurred boundaries, relationship strain and favouritism – courtesy of the established systems and continuous support from the franchisor.
Additionally, franchising provides couples with defined roles and responsibilities, minimising ambiguity and potential conflicts. With built-in support and access to resources, couples can navigate challenges with confidence – leveraging the brand recognition and reputations associated with the franchisor to bolster credibility.
Why the early years sector stands out?
The early years sector is a perfect example of a sector where couples can work together successfully, particularly those with children of their own.
“A key factor to help us work together successfully is communication,” says Natasha Muniz, owner and franchisee at Monkey Puzzle Astwick. “We worked out each other’s strengths and are utilising them for the good of the business. My husband is very business and financially minded, and my background is in early years and mental health.
“It works really well – I can concentrate on the children, staff and parents and then his help is invaluable for the running of the business. We both have experience working with large teams, so we can bounce ideas off of each other. Monkey Puzzle are super helpful too. We’re constantly in communication and I know I can reach out to them if I need to.”
For Cherry Newnham, franchisee for Monkey Puzzle Hartley Wintney, bringing her fiancé into the business shifted their work-life balance for the better. “Andy is a graphic designer by trade, but we wanted to be closer together as a family and be more flexible with our time to manage looking after our children, one of whom is autistic and requires additional support. He came on board as our Marketing & Facilities Manager to utilise his experience in marketing to help promote the nursery, and carry out maintenance around our site, and we haven’t looked back since.
“I wanted to run a business with a family feel, and franchising with Monkey Puzzle has enabled me to spend more time with my family with extra financial benefits.”
“We are a team!” adds Natasha. “We have three children that keep us busy, so we have to build a solid routine. We both have a passion for the nursery to succeed and with the knowledge that Monkey Puzzle is there to support us, we’ve got a great balance.”
A mutual passion to children’s development, combined with complementary skills and the feel of a family-run business, creates a welcome and warm atmosphere. For franchisees such as Cherry and Natasha, possessing a shared purpose along with a harmonised work-life balance underscores their success and validates their choice to venture into business alongside their partners.
1 Option Matters, Business with your other half poll, Aug 2023
