Opening a Pilates studio w/a business partner- best practices

Would love to hear any nuggets of wisdom you could pass along that you've learned while operating a pilates studio w/a partner(s).Thank you.
Maria ~ This is a big subject. Are there any specific questions? Is your focus the challenges of owning a business with a partner?
Hi Maria, this is Amy....a regular teacher on the site. I agree with John's question....are you curious about partnership.....or just ownership in general? I own my own studio in Santa Barbara--no partners. I would be happy to help answer any questions you may have!
I know - this is a meaty subject but since so many instructors have dreams and intentions of opening their own studio, I thought pilatesanytime.com could be a wealth of resources for this BIG topic. To Amy's question - I'd love to hear a workshop/or roundtable discussion on studio ownership from those that have been there. What propmted my best-practices-biz partner ask was my being approached to invest in launching a studio w/another instructor. Any posts on challenges of owning a studio w/a partner would be a great place to start. But yes to Amy - would love to hear any words of wisdom on solo studio onwership as well. All and any adivce welcomed - thnks - love your site!
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Maria ~ I agree it is a fascinating subject and very complex. My advice is to remember that it is generally easier to get divorced that to split up a company between two owners. So pick your business partner with great care. Unless you need a partner (because you lack something) I would try and go alone. With the right partner (someone with complimentary skills) you will be able to achieve far more than if you worked alone. This is a big question. I hope this helps and starts a conversation.
Hi Maria! Yes I agree ... this is a very big topic and one that could be developed into a workshop or roundtable (love the roundtable idea) for sure. I guess I would start by saying there are always pros and cons to both scenarios.....sole ownership and partnership. Launching a studio with another instructor could be a fantastic opportunity. Communication is key....for everything! Sole ownership is incredibly gratifying.....and a lot of work! Let me think more about this and add to these remarks. In the meantime, you can contact me directly at amychavens@gmail.com. I'd be happy to keep a conversation going!

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