Couples Working Together: Franchising With Your Spouse

Couples Working Together

 

About 1.2 million Americans run a business with their spouse according to a study from National Federation of Independent Businesses.

 

Obviously, spouses can and do make successful businesses partners. But if you and your significant other are thinking about becoming business partners yourselves, just about every successful business couple will tell you the same thing: it’s all about balance.

 

When you can strike this balance in your personal and professional relationship, you and your spouse can rightfully claim the ultimate title of power couple. But getting there takes diligence and some old-fashioned hard work.

 

As you might already know, there’s a lot of articles floating around warning couples against working together (usually written by those who haven’t made it work themselves). But our own franchise system and many other businesses prove these people wrong.

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How Does Franchising Actually Work? A Quick-Guide

How does franchising work?

 

Franchising has been one of the most important sectors of the global economy for decades, so it’s no wonder why so many Americans choose to go down that road in order to free themselves from the shackles of their nine-to-five job. According to the International Franchise Association’s 2018 report, strong economic fundamentals and a boost from the tax reform and favorable regulatory environment support above-trend expected growth in 2018.

 

via IFA’s Franchise Business Economic Outlook for 2018

 

Franchising is an enticing option for many potential entrepreneurs who want to own a business but don’t have the resources or know-how to start from scratch.

 

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4 Things To Do Before and After Buying a Home-Based Franchise

Home-based franchise

 

Buying a franchise you can run from home can save new business owners a lot of money they’d otherwise have to spend on rent, extra utilities, insurance and other costs.

 

It also awards you more freedom over how you decide to run your business day-to-day. But while the benefits of home-based franchising can be alluring, it’s important to realize that not all opportunities are the same.

 

[Read Also:] Buying a Franchise in 2016: 4 Ways to Prepare Today

 

Franchises are an investment. To make that investment pay off, it’s up to you to carefully research your options and make a well-informed decision.

 

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Buying a Franchise in 2016: 4 Ways to Prepare Today

Buying a franchise in 2016

 

Thinking about buying a franchise in 2016? You’re not alone. The International Franchise Association is predicting the franchise sector to outperform the overall economy next year by posting a 5.1% gain versus 3.1% in total.

 

Residential and commercial service franchises are among the six franchise industries poised for the biggest growth as new housing and business developments will require regular maintenance and upkeep.

 

No matter what kind of franchise you’re interested in, it’s important prepare as early as possible before getting started. Here are four steps you can take today to ensure your success tomorrow:

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How to Open a Franchise With Little Money

How to buy a franchise with little money

 

Whether it’s buying a franchise or starting a business from scratch, the dilemma is the same: you need money to make moneyEvery year, thousands of would-be franchise owners give up their dream of business ownership simply because they don’t have the means to get their franchise off the ground.

 

First, some much-needed perspective: Just about no franchise owner buys a franchise with all the capital they need right off the bat. Similar to buying a home, franchising only requires a few fees up-front while other expenses can be offset by the revenue you bring in through the business. 

 

Just about every new business owner and franchisee finances their endeavor one way or another, even when they have the cash to spend. If you’re in need of some funding help, here are three ways to open a franchise with little cash:

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