Franchise Consultants: Include Candidate’s Spouses and Partners on Franchise Discovery Calls

Involving Significant Others Prevents Delays and Unwanted Surprises

The decision to buy a franchise isn’t usually made by one person. Before a candidate seeks out your franchise consulting services, they’ll likely have had many conversations with their spouse or partner about the life-changing decision to leap into business ownership.

Even if a spouse isn’t involved in operating the business, owning a franchise is still a lifestyle change and significant expenditure of resources. This is especially true if the couple is relocating for the business. Many candidates will put their life savings into a business, so the spouse is very much involved even if they aren’t personally running the day-to-day operations.

Why Involving Spouses is Beneficial 

Imagine finding out that your spouse was putting your life savings into a business and he or she never told you. You would want to know and so do your candidate’s spouses and partners. Even if your candidate seems indifferent about including a spouse or partner on franchise discovery calls, you should convince him or her to make it happen. When a spouse or partner is on a franchise discovery call, it saves time and avoids potential surprises. It’s also more efficient and can help bring better outcomes.

Involving Spouses in Franchise Discovery Process

A Smoother, More Efficient Franchise Discovery Process

Think about it; with everyone on the same calls, you don’t have to explain things over and over. Having everyone on board with complete transparency smooths the process and ensures an easier close. Not including a spouse or partner could be disastrous and break the deal at the very end. 

More Ideas and Better Outcomes

As with anything, two heads are better than one in the franchise discovery process. Including the candidate’s partner means additional perspective. For example, the candidate may have experience in operations while the spouse may know more about marketing and advertising. 

If the spouse will be involved with the business, they should be on the call to discuss their specific goals and vision for the business. Since the couple knows each other well and wants to see each other succeed for personal and professional reasons, they have additional motivation to make sure that the business operates well. Spouses will know each other’s strengths and weaknesses and will hold each other accountable during the process, which can ultimately increase efficiency and result in better outcomes. Even during franchise discovery day, the couple can come up with questions to ask franchisees and the franchisor together.

Including the Spouse on Franchise Discovery Calls

Take the following steps to get the spouse or partner on the call: 

• Plan ahead: Before the sales call, communicate with both parties to understand their individual concerns and goals. This will help you guide the conversation to their specific needs and ensure that everyone is on the same page.
• Address both parties: Throughout the sales call, address them equally and give them both a chance to ask questions and express their concerns.
• Be patient: Including spouses and partners in the conversation can take more time but is worth the investment. Be patient and take the time to answer all of their questions and address their concerns.
• Follow up: After the call, make sure to follow up with both parties individually. This will help to ensure that everyone is still on board with the investment and that all questions have been answered.

As a franchise business consultant, you can build stronger relationships with candidates by including spouses and partners in the conversation. This will also help you establish trust and credibility. Understanding the needs of your candidates can help you to provide more targeted and effective advice and support. Couples working together should have an emergency fund, clearly defined roles and responsibilities, and discuss their risk tolerance prior to making an investment. 

Spousal Consent Laws

Like any business arrangement, some marriages have unexpected circumstances like a death or divorce. If spouses decide to operate the business together, they may both sign a franchise agreement - making them responsible for guaranteeing debt. This isn’t the case if only one spouse signs, allowing them to transfer assets later on if necessary. Franchisors would also like a spousal guarantee that they will fulfill their obligations.

In case of a divorce, there is a spousal consent form in a franchise agreement that ensures the business doesn’t become a property dispute. One spouse gives up their interest in the business. Spousal consent laws protect the interests of everyone involved. Depending on where you do business, couples should consider if they want to set up shop spousal consent states or not. Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas and Washington are community property states.   

Franchise Consultants: Get Spouses and Partners on Franchise Discovery Calls

By including spouses and partners in franchise discovery calls, the process becomes easier for all involved and avoids last-minute surprises that could squash deals. Even if the spouse won’t be involved in the business, they could still be helpful in the process by asking questions and providing additional insights. By including both parties, and addressing them throughout the conversion, being patient, and later following-up, franchise discovery calls can become more enjoyable, with better outcomes for all. While many marriages and businesses are successful, there are spousal consent laws that protect everyone involved in case of a death, divorce, or other circumstances.