Ever done a 50/50 partnership LCO?

Discussion in 'Business Operations' started by AdamCByrd, Apr 3, 2005.

  1. AdamCByrd

    AdamCByrd LawnSite Member
    Posts: 52

    Has anyone ever gone into the lawncare business with a 50/50 partner? 2 men, both with equal share in business, both equally motivated to work hard due to stake in business, equal ownership of equipment, etc....It seems like you'd have to make a TON of money to make it worthwhile for both owner/operators.

    Does anyone have experience with this?
     
  2. Mdirrigation

    Mdirrigation LawnSite Silver Member
    Posts: 2,772

    Make it 51% and 49 % and be the one who has 51% . Someone has to be the tie breaker .
     
  3. competitiveimageland

    competitiveimageland LawnSite Member
    Posts: 192

    ive never heard of a good ending out of any partnership
    I thought the same thing at the beginning .just make sure that you have everything notorized so you dont take in the end. now im a sole proprietor and making twice as much then with the partnership
     
  4. Scottish LScape

    Scottish LScape LawnSite Member
    Posts: 82

    Sole proprietor is the way to go. Partnership = headaches! my 2 cents
     
  5. LB1234

    LB1234 LawnSite Gold Member
    Posts: 3,210

    We have an LLC...two 'members' each with a 50% share of profits (or losses :blush: ). Been going on six years now. It's myself and my brother.

    I won't sugar coat it but we have had our ups and downs and our heated debates. Although, we made a pact and have kept to it that busines is business, personal is personal...blood is thicker than water. If a problem arises between us at work and we have a social gathering with family that night we make sure to set out differences aside. It has worked well thusfar.

    I also like the fact that it is a reliable backup. In other words if either of us is sick or needs to attend to an urgent matter we will not be negatively affecting our accounts (we are small however, b/t 10-15 regular accounts during the first few years). For instance, last year my wife, son, and I were able to go on a 10 day vacation. I was able to take a 'true' vacation and not worry about how the business was going the days I was gone...I didn't even call in once asking how things were going nor did he have to call me with any matters..he handled anyhting that arose. I have confidence in him and he has confidence in me. We have a great working relationship with similar goals.

    For me, I don't think I could do it without the partner :)
     
  6. aries

    aries LawnSite Senior Member
    from nj
    Posts: 334

    I have with my brother it lasted about 7 year's did all the work myself until I could not take it any more, I would think about before you go and make a decision!
     
  7. Davis Lawn Mowing LLC

    Davis Lawn Mowing LLC LawnSite Senior Member
    Posts: 318

    Sole proprietor with an LLC. If you need another person, hire someone. If you are thinking about a partnership to have more capital to start the business up, I still dont like that idea. If you do it, dont go equal partners if you can. You always want the bigger share, always get at least 51%.
     
  8. Jpocket

    Jpocket LawnSite Silver Member
    Posts: 2,278

    Sounds like a dissaster to me. I would run fast from a partnership unless it's father son or brothers.
     
  9. fazzy815-66

    fazzy815-66 LawnSite Senior Member
    Posts: 303

    i DID IT AND AM SORRY I EVER DID IT LASTED 4 YEARS AND LETS JUST SAY I FEEL LIKE A NEW KID AGAIN THIS IS THE FIRST SEASON BACK TO A SOLE PROPEITER THREE WORDS DONT DO IT :gunsfirin
     
  10. qps

    qps LawnSite Bronze Member
    from Indy
    Posts: 1,484

    No such thing as 50 / 50....someone has to have the final say....
     

Share This Page