Thread: merger
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Old 07-17-2013, 09:28 PM
sehitchman sehitchman is online now
LawnSite Senior Member
Join Date: Apr 2009
Location: West, GA
Posts: 486
Many years ago I went to work with a man who was looking for a young man to train and take over the business. I was made promises and given a price to purchase the balance of the business and he was going to allow my work to earn 25%. A few years later, he re-married, hired the low life lazy step daughter who told me that it would all be hers one day. When I confronted the man, he simply stated, if I had the money I could buy the business, his wife wanted the step daughter to take it over. I was out and moved 600 miles to start over, ended up getting about 10 cents on the dollar for the stock I owned. Unless you own 51% of a privately held company you are SOL plus at some point, the son will be a 75% owner and your share will be worthless. There are always exceptions, so if the wage is good for you just do it and take the risk. Get a contract if you can, but remember, blood is thicket than water. How much would you need to make the deal on the nursery and go it alone?
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