View Full Version : business opp...need advise
10-28-2004, 06:26 PM
I have a opp. to go into business with a guy who only really does ep henry work. I have seen his work and it is amazing what he does. He is really good. He is looking to partner up with someone. He told me he brings in when all said and done 120,000 a year. With no advertising. I was talking to him and we are going to sit down and discuss it. My question for you is would this be wise. I know a little about the pavers but have not really done anything like the magnitude of the jobs he has done. He does have a horticultural background as do i. He also has his pesticide and chemical license and is licensed as a trainer. I do not know any of this and it is something I wanted to learn to expand with. He is dedicated to what he does. what would your advise be. What step's should we take. I have never done this. We would keep his business name and I know 95% of my clientel if not all would go. I feel we could really grow together. What kind of documents should we use to cover myself. I feel everything should be 50-50, after expenses. What are your thoughts?
10-28-2004, 07:38 PM
I never like the idea of a partnership, if you want to learn the other parts of the business, hire someone with those skills. I pay people a lot of money instead of partnershipping if they are that good. People are a lot easier to get rid of if an employee.
What's ep henry work? Maybe typo, just couldn't figure it out.
10-28-2004, 07:46 PM
ep henry installation is brick installation
10-28-2004, 07:51 PM
My question is, why does he need a partner? If he brings in 120,000, why would he need the extra headache? I am wondering if there is some reason behind this. Do you have enough work to make the 50-50 thing work? Are you bring everything to the table? I would think it would be better to just have an agreement that you send the work that you don't do his way and the other away around. Partnerships can work great, but they usually don't.
10-28-2004, 07:54 PM
My question would be why is he looking for a partner if he is doing so well?
Why not just hire someone to help?
I'd be a bit careful and do a LOT of checking before getting involved.
10-28-2004, 07:59 PM
There is a big chance that this is not an opportunity.
10-28-2004, 08:09 PM
The only reason I can see why he would want a partner is because he possibly has some debt he needs help with. In a partnership it always seems like one partner wants to work more than the other. This sounds like trouble.
10-28-2004, 08:48 PM
It can go both ways. Would you be working part time? Spend a week and see how working for him is. Don't be afraid to tell him that the way he works is over your head. Its not worth loosing a friendship over a few pavers. I've learned that hiring good friends may not be the way to go, yeah you have fun working with them but your name is on the job. I want it perfect, he wants the money. If you feel that your comfortable working with him and for him, be all means take the job. But don't let him down, he's in the same boat you are, (is this the right decision)?
10-28-2004, 09:36 PM
Sounds sort of like he wants to expand to make some more money but I'd do what the other guy suggested and hire and learn. You would be in better control that way.
10-28-2004, 09:48 PM
I won't. I started out in a partnership and it lasted about 2 months and then there was way to many disagreements as to how the biz was going to be run. Bought him out and told him bye bye!
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