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Adding a Business Partner |
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dmreed4311 
Newbie 
Joined: 05/October/2010 Location: tampa Status: Offline Points: 39 |
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 Topic: Adding a Business PartnerPosted: 20/June/2011 at 4:47pm |
You made the right decision, a partnership will almost always end badly.
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77748
Journeyman 
Joined: 12/August/2004 Status: Offline Points: 298 |
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Posted: 20/May/2011 at 11:20pm |
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I have done would never do it again ! The original owner will always work harder and put more hours in. In any business there will be a time when as you know last to get paid there might not be a profit at some pay period and some partners do not understand that. Learning to be accountable and you must lead by example unfortunately it can go right over someones head!
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John L
Carpet Cleaning Guru 
Joined: 29/November/2004 Location: I'm Right Here! Status: Offline Points: 4013 |
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Posted: 23/April/2011 at 7:54pm |
Good choice. I do the same and we just split it down the middle. Fair is fare! lol!
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vacman2000
Groupie 
Joined: 22/August/2010 Location: London Status: Offline Points: 61 |
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Posted: 23/April/2011 at 7:01am |
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Ive been talking about this subject over the last few weeks
I would love to find a partner who was like myself, I work as much as need to achive the results that we need, would never a penny more than I was supposed to, honest and trustworth all the way down the line. However I have had patners (family members) who were honest and trustworthy, they couldnt put the effort in . There has got to be guys out there like me you just have to find them. |
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peculiar
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Joined: 02/September/2006 Location: Canada Status: Offline Points: 16 |
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Posted: 31/March/2011 at 4:07pm |
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Thanks guys, I took your advice and kept it separate but open to sharing large commercial jobs.
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westcovina
Senior Member
Joined: 17/December/2010 Location: West Covina Status: Offline Points: 103 |
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Posted: 07/March/2011 at 5:24pm |
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Bad move. If you are doing OK DO NOT DO IT!
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John L
Carpet Cleaning Guru
Joined: 29/November/2004 Location: I'm Right Here! Status: Offline Points: 4013 |
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Posted: 06/March/2011 at 8:54pm |
He use to! That right their tells ya he can't run a decent 1 man operation. He might
leave again if that high paying job re-hires him.
What is he bringing to the table? A T-bone? LOL! Better be Capital. Like 1/2 what
yours is worth. Just some thoughts. Like others said above... Don't do it!
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alphacleaning
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Joined: 28/June/2010 Status: Offline Points: 12 |
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Posted: 06/March/2011 at 2:00pm |
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I personally would not do it. If you have capital, you should rather look into buying some other company than finding a partner who doesn't bring anything to the table.
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duckcountry
Master Carpet Cleaner 
Joined: 29/October/2005 Location: USA Status: Offline Points: 1082 |
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Posted: 06/March/2011 at 1:26am |
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What is his buy in? Deals that are for less than 100% money upfront are slimy. What he brings to the deal has to be capital, not equipment value. There needs to be an agreement about required work hours per week, the roles each play.
You can't afford to take on a welfare case who gets half YOUR money. He is bringing nothing to the business that justifies his expectations. I can understand two existing businesses merging, but a quitter as a partner when he has no portfolio of existing customers and no reserves which could be used to expand the business to at least twice its present size in 6 months, tell him that when you are looking for a partnership arrangement, you will revisit his offer. That's my opinion on the challenge you put up for discussion. |
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Are you in a high paying business or are you just a self employed low paid grunt who thinks this business provides dignity?
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cmaster
IICRC Instigator 
Joined: 29/January/2004 Location: Canada Status: Offline Points: 29693 |
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Posted: 03/March/2011 at 4:22pm |
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Very few partrnerships work. I would never do it!!!!
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The STD Meter |
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cleanex
Carpet Cleaning Specialist 
Joined: 17/October/2004 Location: Canada Status: Offline Points: 705 |
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Posted: 03/March/2011 at 3:18pm |
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Trouble in the making. Would need to be something very special to make me venture into a partnership in this business
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DON ELDRED
YOU CAN "STAND" ON OUR REPUTATION |
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Paul63
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Joined: 19/January/2010 Location: Canada Status: Offline Points: 45 |
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Posted: 03/March/2011 at 1:04pm |
this would make me very nervous especially since you already are established. Getting a partner can be a nitemare...unless you happen to be extremely compatible...and even then?????.. follow your gut, I often wonder if a 50/50 business relationship even exists? at best, I think setting up an alliance of some sort is fine but keep it an arms length arrangement. |
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peculiar
Newbie
Joined: 02/September/2006 Location: Canada Status: Offline Points: 16 |
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Posted: 03/March/2011 at 11:14am |
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I've been cleaning carpets for about 11 years and so I have quite a good size customer base. I'm looking to join forces with another cleaner to build something huge and include other related services. He used to clean carpets many years ago but left the business to get a high paying job. He was recently laid off and just bought some equipment to start cleaning again. We are interested in becoming partners because of what we each bring to the table. I'll be meeting with him in the next few days to discuss the fine details. I'm not sure how to make the transition though, because I have the majority of customers that i've serviced over the years. Does anyone have any suggestions of what I can do to make if fair for both of us? thanks in advance for your help
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peculiar wrote:
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