Thinking to start a business with your husband or wife in 2021 or later? Having a business project can be very easy, but having a great business idea that will involve a couple is something else.
It is better to get business ideas that tend to blossom with time than to look for get-rich-quick plans. If efficiently thought out and utilized, a business managed by husband and wife with just the fine amount of capital will succeed.
Before making attempts to start a business as a new couple, or stale, you will be required to build your business acumen, your business knowledge, and skills, as these will determine the direction of your business.
If you’re looking to actually start a business with your husband or wife in 2021, then the time to take strategic steps is now.
- Ask yourself questions, and get them answered, what makes husband and wife businesses fail?
- How many husband-and-wife businesses were successful?
- What made them successful?
- Any famous Successful couples in business?
This article will not only give you an insight into starting your business but also inform you about the small profitable businesses that could be started with little capital and grows over time, managed by you and your husband or wife.
How many Husband-and-wife businesses survived?
Research shows that a great many businesses started with only husband-and-wife(s) and 90% all made it.
Successful husband and wife businesses
Bill Gates and Melinda Gates are a perfect example of a successful, famous couple (husband and wife) in business together.
Bill Gates got married to Melinda Gates and together they built the Gates’ successful business, Microsoft, one of the biggest companies in the world.
At a point, Bill Gates was the wealthiest man in the world, before being overtaken by Elon Musk.
This shows how effective a business managed by a couple is!
What makes a husband-and-wife business successful?
When you start a family business with your spouse, your husband, or your wife, the togetherness you both feel ensures a great workforce.
You both put in your best because it is your own business, you’re not working for someone else.
No one steals!
It is your business and none of you will cheat, because you surely don’t want it to affect your business.
Have in mind that you will manage the business to the point that it gets large you and your husband or wife can’t handle it anymore.
Then, and only then, should you hire an assistant or two, then maybe three until you get just enough.
What business can I start with my wife?
As a man, before choosing what business you can start with your wife, you have to consider what you can do, what your wife is good at, and what capital you have in your reach.
Factors to consider before starting a business with your spouse
First, you will need to ask for your spouse’s agreement, as the business will need you and your husband or wife’s determination.
Once a mutual agreement is reached between the couple, the next step is considering what you both can do.
Are you two tech-savvy? Computer literate? Then you may want to choose to operate a Computer Cafe or an online Food Shop.
After checking through your business preferences and you’ve decided which business to venture into, the second step is research.
You and your spouse (husband and wife) should gather as many facts as you can about the business you plan to venture into.
Ask from friends, neighbors, and relatives who may have great knowledge of how a family or spouse-managed business works.
That way, you’re sure to amass a great deal of knowledge about your projected business.
The third step is going to be projecting a name for your proposed business.
There are many husband and wife business names that I’ve seen and believe me, they are extremely ridiculous.
Instead of incorporating your first name and your husband or wife’s first name, you should use your family name as your brand.
If your name is Dave and your wife’s name is Bright, you don’t have to say Dave and Bright inc., instead, consider your family name, which, I suppose is the husband’s surname.
Wey Inc., Damson Inc., and so on are better names for husband and wife businesses.
Business Ideas for Couples (Husbands and Wives)
After considering many business ventures, I’ve compiled a list of 6 small profitable husband and wife business ideas that require little capital.
1. Wholesale and Retail
This will require you and your spouse, husband, or wife to acquire a shop space, as you will deal in bags of raw foodstuff.
The best way to work this business out is that the husband will be in charge of purchasing the foodstuff in places where they are cheaper, most likely remote towns or villages, and to bring them down to your store, where the wife sells them.
You may start selling on retail and later, when the business value grows, you upgrade to wholesale, and sell in bags.
2. Jewelry business for husbands and wives
The business of selling is highly lucrative but stressful as it requires that your partner (better if the husband does this) travels down to neighboring towns and cities to purchase the jewelry from the producers themselves, cheaper and original then also transporting them down. They can be sold at higher prices in your neighborhood.
This business can be a sure hit if your spouse (could be husband or wife) is a good cook, the other partner will then be assigned the duty of purchasing the foodstuff and spices to be used.
4. Herb and Spice Production
You could own a spices farm with your husband or wife, and with the rate at which spices are sold now, owning a slice farm is a good business Idea.
It could be started with just a small garden and fertile seeds, and the proceeds from the products will surprise you.
5. Writing and Publishing
This depends on your writing skills, though.
If you’ve always been writing just for fun, now’s the time to use that skill, and get paid for doing what you love.
Your husband or wife could help with the publishing and marketing.
6. Printing Business
Going into the printing business requires a huge deal of capital, but you could start with a computer system and a printer, then maybe a photocopier.
The business is highly lucrative.
Starting a business with your spouse is just the beginning, this article talks about working towards making it successful and going about how to start it.