Erick Romero and Nuris Marcano are partners in business and partners in life.
They were the latter first, married in Venezuela before they came to Rhode Island together. He worked with a local photographer, then started his own photo studio. She had a separate job. But as the Erick Romero Photo Studio’s business grew, Romero relied more and more on Marcano’s help, until she joined him full time.
At first, the responsibilities were well-defined: Romero did the photography work, handling a steady stream of weddings and other events, while Marcano acted as bookkeeper and manager. But over time, Marcano learned photography as well, so they could cover more jobs.
Working together doesn’t hurt their relationship, Marcano said. “Whatever happens in the house is different than what happens in the studio,” she said.
“Mom-and-pop” businesses aren’t new, noted William O’Hara, director of the Institute for Family Enterprise at Bryant University. But the number of husbands and wives running businesses together is growing.
The circumstances vary from couple to couple, O’Hara said. In some cases, one spouse will start a company and the other will join once it has progressed. In others, the couple will share a creative vision and decide to enter a joint venture.
Either way, O’Hara said, a business partnership is the logical progression for entrepreneurial-minded couples. “[The marriage and the business] can both be enhanced because they know each other’s behaviors,” O’Hara said.
The key thing for the couples to keep in mind, he said, is that they are in a business relationship. Foremost, that means that the proper documents are in place from the start.
Any partnership agreement should spell out who’s responsible for what portion of the business and what the decision-making process is. It should also include exit strategies and who would get what assets if things go awry.
Katie Herzog, president of Boston-based Eastern Point Consultant Group Inc., which works across all areas of business, said that couples doing business together need communication and trust.
“If there are aspects of the business that aren’t transparent to the other person, that can lead to serious problems,” Herzog said.
That level of trust has been a major part of what has helped husband-and-wife team Peter and JoAnn Wooding succeed. Since 1978, they have co-owned Wooding Design, a Providence-based firm that works in a broad range of design fields. Their son, Rob, now works with them as well.
The Woodings split their responsibilities, but both handle creative aspects of the business. Peter Wooding’s expertise largely comes into play during the planning and technical aspects of projects. JoAnn Wooding’s design skills are slightly more specific, focusing on color and arrangement.
It’s not always easy to be in business with your spouse, both agreed. Stress from projects and other areas of life can impact one or both of the partners, sometimes creating the need for boundaries.
Overall, however, the experience has been rewarding for the couple, both emotionally and financially.
But JoAnn Wooding said she has witnessed plenty of husband-and-wife businesses that suffer, mostly when there is an unequal partnership in which one spouse exerts power over the other.
