Married Couple, Husband-and-Wife Business Ideas: Partnering with a Spouse

Being in business with your spouse can be a great way to build wealth together because you know you’re in partnership with someone who wants to succeed as much as you do. Working toward the same financial and life goals with someone can be very motivating, especially when you achieve them!

HomeVestors® is a house-flipping business and we have couples who choose our franchise, even with no prior real estate experience. What makes this a good husband and wife business idea, or a great business for any partnership, is that it offers each person an opportunity to work in a business they enjoy, while enhancing the life partnership. In speaking to our partnered franchisees, here is some of their advice on working together.

Tips for a Good Partnership

The most important thing is that you are both interested in being in the business and feel it is a good way to build the life you want. As a married couple, partnership or husband and wife, business ideas can often seem daunting, so we alleviated some of that stress in our franchise structure.

Some of our couples have opted for one spouse to get into the business first, and used the other spouse’s salary to maintain income until they were ready to also join the business in a full-time capacity. Other couples decided to commit from the beginning. Here are some additional ways to evaluate which option is best for you:

Defined Roles

There are many roles in a business, so clearly define who will do what from the onset. This gives each person responsibility while being able to offer support to their partner. A franchise sets up well for this arrangement because the structure of the business and the roles are already established.

Individual Time

You are going to see your partner more during the day, and to keep that from becoming overwhelming, a business where you are not always face-to-face with each other will be helpful. At HomeVestors®, one spouse might be talking to homeowners while the other is handling the financing and administration. For married couples, partners or husband and wife business ideas, having time apart while working together can give you both some individual space.

No Work Zones

Choose to have times when you don’t discuss work. If you have interests outside of work – whether individually or together – that’s even better. Part of the reason you are likely attracted to entrepreneurship is to have more freedom to enjoy your life, so take advantage of being able to do that.

Paul and Tanice Myers are a couple and HomeVestors® franchise owners. They talk about how their roles are distinct in the business, which makes for a strong, trustworthy business partnership. They know their partner has their back and they enjoy spending time together, so the HomeVestors franchise offered them a great way to become partner entrepreneurs.

Is a Franchise a Good Investment for Couples

When considering joint business ideas, franchising should be on your list. The franchise model has defined roles and responsibilities plus a performance-measuring reporting system. While some franchises, like HomeVestors®, have a lot of flexibility, there are key elements of the franchise that form the foundation of a solid business model.
Franchising also connects you immediately with a network of other franchise owners (including couples) who can be a resource for you. These people are in your exact business and understand the relationship element of being couples and working a business together.

HomeVestors® is a Family-Friendly Franchise

Some of the elements that make HomeVestors a strong family franchise include:

• Being able to run the business from your home
• Having flexible hours – unlike a retail or other service business
• Knowing that you’re helping other families in two ways: either by getting out of a challenging real estate situation or by getting into a flipped property that suits their needs

Our model is often one of the great franchise opportunities for stay-at-home parents because of the flexibility it provides for parents looking for a way to afford one parent to be at home. Oftentimes, the daycare costs make it challenging to justify an out-of-home position, yet the at-home spouse still wants to build a career. HomeVestors can be a great fit for both!

Find Out About HomeVestors®

We invite you to find out more about HomeVestors and the opportunity to build wealth through entrepreneurship as a franchise owner. We have a lot to offer couples who have a vision for a better work-life balance, supported by a proven business model.