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Many franchise owners will choose to work with a partner to operate their franchise. It’s common for franchise owners to partner with people they know, be it a spouse, sibling or a long-time friend.

In this blog, I will explore the upsides to working with friends or family members, how you both can use your skills to find success and how to keep your working and personal relationships with your business partner healthy!

The Pros of Working With Friends or Family

One of the upsides to partnering with a friend or family member is the familiarity that you have with one another. So much of the success behind a franchise is based on communication, and if you are working with someone you are related to or someone you have been friends with for decades, then communication will not be a problem!

On top of that, the two of you likely share similar values. This can reduce the amount of head-butting as you will more than likely agree on how you want your business to operate, and what you want it to stand for.

How You Can Work Well Together

To avoid any arguments or feuds, you and your partner should define the duties and responsibilities that each of you will have. Each of you brings different strengths to the franchise and your partnership, and it’s up to you to figure out how to use them to grow your franchise.

You should also consider creating a detailed business plan to follow. This will help keep both of you on track with your goals and responsibilities.

The Cons of Working With Friends or Family

One of the first things that needs to be done when working with a friend or family member is the setting of boundaries. You should make it clear that your personal relationship takes a pause when work starts for the day, and your working relationship ends when you are done for the day.

Any problems at work should stay at work, and any grievances in your personal life should remain there.

Finances are another area where there may be problems. If you or your partner feels as though you are contributing more time and money to the business than the other, this could cause disagreements. In this situation, it is important to communicate to your partner how you feel.

If you are ready to start your career as a franchisee, get in touch today to get started with a free consultation.