Welcome back to another episode of the Franchise My Business podcast. In today’s episode, we dive deep into the world of partnerships within the franchising industry. We are excited to bring you insights from an experienced entrepreneur, Kevin Oldham, who shares his personal perspective on the role of partners in his own businesses. 

From the highs of successful collaborations to the pitfalls of unsuccessful partnerships, Kevin will provide invaluable insights into the key factors that contribute to a fruitful partnership within the context of franchising. So, grab your notepads and get ready to explore the pros and cons of partners in franchises. Let’s dive right in!

Highlights:

Building a Solid Partnership: Laying the Groundwork for a Successful Journey Together – Kevin: “ 

“Cons if you’re not aligned, I think it can be very detrimental to your partnership if you’re somebody who doesn’t think with a mind of abundance. Right? If you’re somebody who’s kind of, think small and you’re like “Hey I got to have like a bigger piece of the pie” partnerships probably won’t work out well for you. If you’re not somebody who’s willing to get out of the way and just trust that the other person has their part of the business and it’s going to loop you in if there’s an issue and partnerships probably not going to work out that well for you I think the number one thing when it comes to partners is you guys want to date before you get married. 

Do you want to date before you get married? Get to know each other, work together, do some projects together before you start tying together, things like bank accounts, and finances, and legal agreements and maybe liabilities on leases, and things like that. You just want to make sure that you date each other first and do some projects and work together to find out if basically getting married, becoming like legal business partners will actually be something that works out well for you.”

Find out more about Kevin and Franchise My Business: