Working with your significant other provides a bounty of financial and personal opportunities. Before entering into any new financial opportunity, couples wishing to make money should review pros and cons, determine if both you and your partner are bored with current opportunities and create a small-business plan to map your financial journey through this new venture. Conduct due diligence before entering any new financial opportunity to ensure it is legal and legitimate.
Apartment, condominium and mobile home complexes need a trustworthy, dependable couple to manage the property, maintain the grounds and collect rent. Sometimes housing is included with the deal, however many property managers prefer to live off-site to get away from the job. Couples with bookkeeping, landscaping and repair skills are successful in a property management position.
Property management isn’t a traditional 9 a.m. to 5 p.m. position. Some property managers are on call 24 hours a day to attend to emergencies such as massive plumbing or electrical issues, along with possible domestic problems such as noise disturbances.
Families with ailing or elderly family members turn to private in-home caregivers as an alternative to nursing homes. An in-home couple can provide 24-hour care in the loved one’s home, sometimes residing at the family member’s home or taking turns staying at the home for 24-hour stretches.
Before offering your services as caregivers, both you and your partner should complete CPR and first aid training. After you meet the family, create a legal and binding agreement that details your specific duties, responsibilities and monthly fee. Generally, you will be in charge of everyday duties such as administering medication, trips to the doctor, grocery shopping, housekeeping, bathing, changing and feeding.
Running or owning a restaurant is a prime money-making opportunity if one or both of you are trained in the culinary arts. Having previous restaurant experience is important because running or owning a restaurant takes more than knowing how to make a good sandwich.
Typically, couples who manage or own restaurants work on each end of the establishment. One partner cooks and manages the kitchen staff, while the other partner runs the front of the house and deals with customers and employees.
In addition to a culinary background, one partner should be well-versed in business, accounting and restaurant management. You’ll need to project how much food to order each day, how many employees are needed, how to balance the books each night and the proper way to maintain a sanitary and healthy restaurant.
Gina Ragusa has made a career out of writing for the past 15 years, with an emphasis on financial institution writing. Ragusa has written for Consumer Lending News, Deposit and Loan Growth Strategies and Community Bank President. She earned her Bachelor of Arts from Michigan State University.