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Can I run my franchise in partnership with my wife/husband/partner?
You can have a partner in a franchise. The partner will have to be assessed by the franchisor in the same way that you will be in order to ascertain their suitability for the franchise. Often, a husband and wife will take a franchise as partners, but a partner could be a relative, friend or business contact. The franchisor will often require that the partners enter into a partnership agreement to regulate their relationship, but even if this is not a requirement you would be strongly advised to enter into a written agreement. A partnership agreement will deal with, amongst other things, the percentage share each partner holds in the business, how profits will be distributed (or losses) and what will happen if one of the partners wishes to leave the business. The partnership agreement would also deal with how management decisions would be made and how much time should be committed to the business by each party. Under the franchise agreement, any change in the partnership would probably be considered as a sale of the franchisee’s business and would require the franchisor’s consent.
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Exciting Franchise Opportunities
Companies to Consider
Third party and personal investment
£22,000 - £25,000 per week
High street banks
Blossom Home Care
Earn over £60,000 per year
Family Law Assistance
Monthly sales of up to £8,000 based on a 37.5-hour week
Yes, via third party
Yes, via high street banks
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