Chip and Joanna Gaines Imagined ‘Something Much Simpler’ for Their Lives Before Magnolia

The couple, who recently celebrated the 20th anniversary of their lifestyle brand, reflected on the milestone in an interview on 'Today'

Chip and Joanna Gaines recently celebrated the 20th anniversary of their lifestyle brand, Magnolia — and they’re reflecting on how far they've come since starting out.

In a Today with Hoda & Jenna segment that aired Tuesday, Chip and Joanna sat down with Jenna Bush Hager and her sister, Barbara Bush, to chat about the milestone.

When Jenna asked what came to mind when they thought about their beginnings versus where they are now, they both began their answers with “a lot of kids.” The couple are parents to five children: Drake, 18, Ella, 17, Duke, 15, Emmie, 13, and Crew, 5.

Joanna, 45, said she was also thinking about “the idea that what was in our hearts as a dream was just a small little shop, doing some renovations in town.”

“Something much simpler,” Chip, 48, added.

Chip and Joanna married in 2003, in their hometown of Waco, Texas. Shortly after, they opened Magnolia Market together. And a decade later, the home renovation experts became household names thanks to their hit HGTV series, Fixer Upper.

Their Magnolia empire now includes their own TV network, lines at Target a store and a restaurant. Their latest project, the recently restored Hotel 1928 in Waco, booked out on opening day this month.

Chip said for the first time in the process of building their business, it feels as though they are “looking backwards.”

Related: Chip and Joanna Gaines' New Hotel in Waco, Texas Is Officially Open — and Reservations Are Booked Out

“It’s just like, ‘Wow, man — a lot happened,’” he said. “And you really didn’t get time to stop and really smell the roses while it was occurring. But now, for whatever reason, we really feel like we’re in just a really nice place.”

Barbara wanted to know their key to making 20 years together in marriage and business work.

“Part of it is just that partnership and that understanding of Chip’s strengths, what lane that he stays in, my strengths, my weaknesses and what lanes I stay in,” Joanna said.

And finally, Jenna asked Chip and Joanna what they’re most proud of.

“For me, it’s just our relationship,” Chip said. “This is not an easy way to kind of live out loud like this.”

He then suggested to Joanna that her response would “be something about money.”

“Oh my God, no!” she replied.

Related: Joanna Gaines Shares Throwback Photos, Remembers 20 Years of 'Memories, Mistakes and Mishaps' at Magnolia

“What is it you love most about having money versus us not having money at the beginning,” he said.

“You’re an idiot,” Joanna said, laughing. “I think from the beginning… Like, you think about the intent of why we started all of this — it’s cause we care about home. It started from that place. And then you think 20 years later, the idea that now people are coming here, we want them to experience that in some way from a hospitality perspective. Whether they step on the grounds or into the hotel, that they feel at home.”

Last week, Joanna took to Instagram to commemorate Magnolia’s anniversary with a heartfelt tribute.

“Here's to 20 years of Magnolia,” she wrote. “Back in 2003, we could have never dreamed of any of this. Grateful for the wonderful memories, the mistakes and mishaps, and all the miracles along the way. Thank you for being a part of this journey with us.”

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