How to Win the Pillow Talk Conversation with your Spouse
You’ve been waiting for this night all week. The hot tub is the perfect temperature. The wine cooler is stocked. The linens are sprinkled with rose petals. Your kids are with the neighbors. She’s due home any minute. There’s a couple more items you’ve tucked under the pillow—two books, one by Keats, the other a notebook outlining a journey that could change your lives forever.
Your evening is a success! All that’s left is the pillow talk. You’ve got her undivided attention, and so you start by reminding her how unfulfilled you’ve both been a work lately and that being our own bosses is always something you’ve dreamed of. The kids are older now and you’ve been able to save a good chunk of money. It’s a lot to consider, but the time might be just right.
Taking out the notebook, your pitch gets a little more formal. You’ve put together a Top 3 list of your considerations.
People Start Small Businesses Every Day
It’s true, and they get to that point with different strategies and techniques. Most start from scratch, with a business plan, a general idea of their customer base, and often with modest savings or a loan to float the business.
There are lots of advantages to running your own business. However, even with enough capital, it can be risky. This is why some entrepreneurs turn to franchises as a business model. A franchise has brand identity—before you even take the first step, there’s a pool of ready customers that already know who you are. A franchise also has all the publicity materials in place you’ll need to position yourself, including logos, slogans, and marketing plans. They’ve already conquered the painful steps of trial-and-error that can otherwise trip up a traditional new business – and share that knowledge through operation training.
Another benefit to franchising is the large spectrum of business models. Depending on the brands you’re considering, you can be a fully involved player who is present in your business every day. Or you can be more of a semi-absentee owner – you get the business up-and-running and then follow a shortened work schedule. This option typically requires that you have a strong manager on your payroll to run your business every day.
Saving is Great, But Loans Can Also Help
Lacking enough capital is common roadblock to small business ownership, and many try to jump this hurdle on their own. If turning to friends and family for loans makes you cringe (reasonably so), you may want to consider taking out a loan.
Right up front, franchisors can tell you how much it’ll cost to start one of their franchises. Their business plans are ready-made and thorough enough to satisfy the most finicky lender or investor. Franchises already constitute built-in references required by lenders – if they’re willing to sell you a franchise, then the bank should be more willing to approve you for a loan. Some franchises have direct financing, but those that don’t typically have strong relationships with lenders that’ll help you get a better rate.
Choices, choices, choices!
Deciding what kind of business to open is another tough choice. When discussing with your spouse, there are a few questions to consider: Is this our dream business? Am we going to have enough customers? How is it going to affect our family dynamic?
One of the most attractive elements of franchising is choice. The options seem limitless: home repair, tree removal service, window cleaning, elder services – you name it. Franchises have already done the market research, so they know whether the clientele exists. It might even make more sense to relocate to a better or bigger market.
The Time is Now
You look deeply into each other’s eyes. Without words, the decision has been made. There’s just one more thing to do, grabbing your laptop. You email the folks at Franocity. They’ve got insight into what kinds of franchises are the right fit for what types of buyers, and the consultation is free. Just before you hit send, you look over at her one more time – she nods and says, “Let’s do it!”