A clear advantage of team franchising is shared responsibility. In addition, you only have to raise half of the required equity capital, pay half of the franchise fee and possibly the advertising fee. This alone eliminates enormous costs, which can become a major hurdle when setting up a business.
Not only the money for the initial investment determined by your franchisor is raised jointly. The joint foundation gives you access to the know-how of two people.
All your experience and knowledge will help your partner and vice versa. So only the know-how you bring to the foundation can be twice as large as the know-how you bring to the foundation alone.
By bringing much more resources into the foundation and sharing the responsibility, you can better put back the setbacks. As you know, double is better than double, so you can master problems together that you alone would fail to solve.
Through the strength and the cohesion, completely new possibilities arise for you and your business partner. Your company has a high potential through team building, which only has to be exploited to the full.
A business partner or even a friend, who is as enthusiastic as you are, can have an extremely positive effect on the common motivation.
Perhaps franchise locations will already be opened that would otherwise never have existed. Starting a business involves many risks that many people simply do not want to bear alone.
So maybe they still need the necessary jolt to dare. This can be provided by a reliable, motivated business partner.
The partnership can also help during the difficult opening phase or in times when perhaps not everything is running like clockwork.
They can push each other forward and motivate each other. This makes it much easier to bridge a difficult phase.
Division of labour
Since you and your partner probably have different strengths and weaknesses, you can agree on a division of labour.
Once it is clear who is good at what, this can boost efficiency. One example would be that one is responsible for organisational matters while the other is responsible for customer contact.