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Old 10-13-2000, 09:02 PM
Kevin Kevin is offline
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Has anyone started as a solo op and joined another to form a partnership? I know there are pro's and con's, just wanted to hear any horror/success stories.
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Old 10-13-2000, 09:35 PM
Nathan Nathan is offline
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Kevin, I run a partnership but did not start as a solo. Myself and my partner worked together for another outfit for a while and we became friends but we also respected each other for how hard each could work, our love for the job as well as one anothers intelligence. We also knew that our personalities and abilities were very complimentary. If you are thinking of joining someone for the sake of more accounts or extra equipment, I would highly recommend some deep searching whether or not It makes economic sense. Probably more important is that you know the person very well because you will be sharing a lot of decisions with that person for probably quite some time if you want to be successful, just be careful.
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Old 10-13-2000, 09:50 PM
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Richard Martin Richard Martin is online now
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Usually the only way partnerships work is if you treat the partnership like a large company. What I mean by this is first you need to incorporate. When you do this you will need to assign different titles to each partner such as president, vice-president etc. When you create these job titles you will also want to create job descriptions for each title. Each partner should be responsible for different areas. For example, the president will be in charge of sales, customer relations and landscaping. The vice-president will be in charge of lawn mowing, equiptment purchasing and equiptment maintenance. You will be spreading the responsibilites around this way and avoiding the conficts that are so often the reason for partnership failures. I recommend going to your local bookstore and getting some reading material before you jump into this.
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Old 10-13-2000, 10:17 PM
Bobby Bobby is offline
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Tried it with my brother way back a while. Lasted a few weeks. He wanted to split what came in and (we'll deal with the taxes and that other stuff later).
Personally, it seems to me that somebody has to be the boss.
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Old 10-14-2000, 12:01 AM
GroundKprs GroundKprs is offline
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In a partnership each partner owns the business completely. If one wants to sell the business without telling the other, he can. Much better organization and fairness in a corporation, if there are to be multiple owners.
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Old 10-14-2000, 07:22 AM
HOMER HOMER is offline
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Been there done that and ain't going back. If I had to do it all over again my partner would have been an employee with a base salary and a good percentage of the sales, never would he have any control over the money!

Homer
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Old 10-14-2000, 11:38 AM
Likestomow Likestomow is offline
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Homer -- what would that "base salary" be? What would the percentage be? Would appreciate all input on this concept.
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Old 10-14-2000, 10:26 PM
HOMER HOMER is offline
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My partnership was a learning experience for me. I wanted to get into irrigation and landsapeing but didn't have the time or knowledge, found somebody that did and pretty soon we were off and running. My mistake was allowing him to run with it so early as he wasn't business minded. He had a good personality and was real good with the customers as long as they didn't complain.............then he wanted to pull a gr8one and start slingin'. I needed to control him more, or needed a more mature person. If I did it all over again he would be employed, I would do the billing, handle the money(never allow another hand in the cookie jar)and handle complaints until I was ready to turn him loose. He would get a base salary, similar to a car salesman, and then a percentage of everything HE sold. As far as figures, I would have to dig further into it myself before I would even know for sure. It would have to be agreed upon by both of us, same as if you decide to do it. You could always start a little low and increase it as sales and business increased. I just had a bad experience because I jumped into it too fast, again, my mistake. I would still rather have a loyal, happy, trustworthy employee with an incentive to sell and do quality work and maintain a good attitude because his pay is directly affected by his performance than have somebody who wants half, takes money out of the account without your knowledge ($3600.00 in one month), brings you no receipts to back this up...............................see what I mean.

PLAN.............PLAN.............PLAN..........

A partnership is like a marriage, better know what and who your getting tied to before you sign anything.

Homer
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