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Feb, 05 2015

Perfect match for a perfect business

It is often said that 'marriages are made in heaven' but to make it stay forever, totally depends on the commitment, conviction and love between the man and his wife. Same compatibility of conjugal union if tried and executed strategically into the busine

Taking care of the household chores and earning bread for the family are the two major course of actions that are performed by every married couple but their partnership is equally important for the family to flourish and grow. Have you ever thought of this corporation between a man and his wife who ventures into a franchise business together? It may reap rich dividends and fertile success rate into the business interestingly.

In a research, we have come across many such married couples who are not only managing their family but are also great business partners. These husband-wife duos are doing great in the franchising industry and are setting examples for other cupid struck pairs to explore their entrepreneurial skills and work as a team to achieve success. Little Elly, Naturals Salon, Inphynyt Batteries, Kathi Junction, Primmero Jewels and many others are a joint venture of husbands and wives and have opened great business avenues for investors in their respective fields.

Two to tango

No business is complete without the proper investment plan and acumen for business operations. Similarly, Little Elly, a pre- school brand was jointly brought into existence by a husband-wife duo, Vittal and Preeti Bhandary. In the year 2004, the couple ventured into pre-school business in India on the same line of Salmiya play school in Kuwait, started by Preeti Bhandary with some modification and new ideas suitable to Indian conditions in the name of Little Elly. They both aimed to create an institution of learning, where children can grow and imbibe in a dynamic and challenging environment, fostering in them strong skills and a passion for continuous learning. At present Little Elly has an outstanding track record with more than 110 centers across India, present throughout south and western India including in Bangalore, Hyderabad, Chennai, Pune, Surat, Mangalore and Navi Mumbai. South India's giant salon brand, Naturals is an exemplary example of a married couple team work. CK Kumaravel and Veena Kumaravel  are founders of  Naturals that has over 400 franchisee run salon across India since its inception in 2000. C.K.Kumaravel-CEO & Co-Founder,Naturals Salon believes: “I always truly believed that behind every successful man, is a woman! As a couple doing business together, it is imperative to have the same burning passion for the same ideals and things. It is important not to let personal likes / dislikes to get in the way and still have a positive outlook towards business irrespective of things back home.”

On the other hand Nina B Singh, Co-Founder and Director,Inphynyt Accumulators India Pvt. Ltd. adds: “This is the most tricky one, I think the personal connect sometimes goes overboard in helping which might not be the need of the hour. While there is a feeling of comfort but you do run the risk of being over exposed, which can be unwanted for both personal and professional space.” Inphynyt Batteries, another brand introduced by a conjugal pair Nina B Singh and Gurpreet Singh in the year 2010.

Kathi Junction, a fast food brand is also a combined project of Navneet Sajwan and Amita Sajwan. “I think it gives us an advantage of two minds working simultaneously towards a common goal without any conflicts of interest. We can actually relate this to a popular saying - "One plus One equals eleven,” quips Amita Sajwan, Co- founder, Kathi Junction.

Spouse team vs sole franchisor

Regardless of the busy schedules, franchisors can enjoy the benefit of having their spouses as a business partner and spend the exciting business journey together. Whereas a single holder franchisor doesn't has any partner to take business burdens and responsibilities equally.

Even Kumaravel agrees: “As a couple with the same passion or business ideals, you have two minds instead of one, which I believe is always better. You get to share thoughts, bounce ideas of one another and feed of the other's strengths. The personal connect between both of us, keeps us grounded to reality whereas a sole brand owner has his / her own say and has the luxury of taking decisions independently and has to stand by his decisions alone.”

On the same tune, Singh of Inphynyt Batteries asserts: “To have spouse as business partner is more advantageous than being a single holder. As a saying goes 1+1=11 and the different challenges that a business can throw and the multiple hats that you need to wear, being two make a team. And the biggest challenge that you overcome being a couple in trade is, trust. One can never feel insecure and threat of being exploited in the business.”

Meanwhile for Bhandary there are both pros and cons in the situation of running a business as a couple or as a single holder. He says that in a single holder proprietorship there is a complete say by an individual whereas in a couple franchisor there might arise conflicting thoughts but these combined ideas and perceptions leads to a brainstorming which ends in multiple answers and improved decision. There are also fewer disagreements between husbands- wife business partners over day-to-day matters and develop respect for the talents. He is also of the opinion that there are also opportunities of building a vast network by connecting their own individual distinctive associations. “One of the biggest advantages for us to work together is that there is always someone there to support each other in trouble spots and encourage with you in triumphs,” adds Bhandary.

Happily, ever after

“Two heads are better than one”-  a known saying is better implied by these aforesaid business and life partners who have come all the way in franchising to accomplished the dream together. A sole franchisor may soon become successful but a team of husband and wife can make their entrepreneurial journey smooth with their mutual bonding.

Nina B Singh firmly believes that a couple franchisors brings in more rounded approach to the entire model. “They contribute and complete things coming from different genres and school of thoughts. Business also becomes close to running a household where each of them carries a different responsibilities and abilities,” she says.

While signing off Bhandary says: “We combine both of our separate business skills and balanced effort to maximize our franchise opportunity which in turn outcomes in multiple benefits. Working with a partner is something wonderful that will be of benefit to both the parties.”

If you and your spouse have a strong relationship, then you will have a trusted partner at your side to face all the obstacles in the business.

Having spouse as business partner gives one the liberty to talk with their better halves on similar passion and job.

Couples considering investing in a franchise business together should definitely speak to other married entrepreneurs to have their say on how to successfully balance their business and personal lives together.

“Yes, the personal connect helps me very much in the professional front. As we are appreciative of each other's personal traits it benefits us when we have to make any decision by offering each other ongoing professional and personal support. I think we're very fortunate to be building something together where we have the same goals, passions and dreams and that we're able to communicate on a daily basis.”

 

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