So, you’re interested in becoming an entrepreneur or business owner, but you don’t want to do it 100% alone. We totally understand, and we speak to people who have these same feelings all the time.
While we know it can be scary to get into a new industry or partner with a franchisor to open a business, it can also be one of the most rewarding and exciting times in your life. If you are interested in becoming a franchisee or owning your own business, but feel nervous about going at it alone, we encourage you to think about having a business partner come on board to help you with the process.
What is a business partner and how do you know if someone is the right fit for you? Trust us, we understand—it’s a lot to process. We break it down for you below.
Who should my business partner be?
Well, technically speaking, it should be anyone that you feel comfortable getting into business with and that will be there for you during this experience. This person can be someone that you are good friends with, or perhaps he or she is an acquaintance that was recommended to you through a friend of a friend.
When it comes down to it, this person has to be someone that you trust, that will be there for the long haul, and someone who is reliable enough to take this next step with you. Who that person is and the relationship you have with him or her is entirely up to you, but remember that your dream will be in the hands of this person, so choose wisely!
What type of person should he/she be? How will I know if it’s the right fit?
It’s a huge decision and we want to remind you that your gut, in most cases, is rarely wrong. Our first piece of advice is to go with your gut and lead with your heart because you know how important this new venture is to you and only YOU will know who fits your vision for a business partner.
A few other characteristics that we encourage people to look for when seeking out a business partner include, but are not limited to:
- Skills, goals, and experiences that both match and balance what you bring to the table. Your partner should share the same goals you have, while also being able to complete and add to the dynamic that you want in your business.
- Financially stable and sound individuals who won’t put you in a sticky situation are safer bets. Of course, the terms and conditions of your partnership will be left for you to decide, but we want to remind you that this is a big step and you only want the best people involved in this hefty investment. Working out the terms ahead of time with them and setting clear expectations will help you in the future.
- Ensure that you both have a mutual understanding and respect for one other and the process of owning a business together. You want to make sure that this person is reliable when it comes to showing up, being engaging, and going the extra mile to ensure your business is successful. Can you trust him or her to show up?
- Make sure that this person is someone you wouldn’t mind spending a lot of time with, because you will! This person should be pleasant to be around, because you will be spending your time and energy on the business you share. You want to protect your energy and emotions as much as possible, and the best way to do this is by ensuring you enjoy this person's presence.
These are just a few of the characteristics that we think you should look out for when choosing a business partner. We know that this is a rather large and life-changing decision, so we want to encourage you to take the time necessary to make the right choice!
If you are interested in learning more about the F45 franchise experience and how you can get started with finding your next adventure, reach out to us today. We would be happy to give you information about our business model, who we are as a network, and what we have to offer both you and your business partner! We hope you join our F45 Family soon!
How to Choose the Right Business Partner