Help with a operating agreement

Discussion in 'Starting a Lawn Care Business' started by 2_Djinn, Feb 14, 2005.

  1. 2_Djinn

    2_Djinn LawnSite Member
    Posts: 36

    Ok we just about have our ducks in a row to get started except having a lawer draw up a partnership/operating agreement. Now before we do this I want to get some input as to what to make sure to include and I have a few more questions that I will ask a little later on if not answerd already.


    Any help would be very much apreciated.
     
  2. Team Gopher

    Team Gopher LawnSite Platinum Member
    from -
    Posts: 4,041

    Hi 2_Djinn,

    I am sorry I don't have any samples for you on this topic. Have you considered talking with an attorney to get this created? You also may want to create an exit strategy so that if you or your partner want out, you could hopefully do this without losing your friendship over it.
     
  3. 2_Djinn

    2_Djinn LawnSite Member
    Posts: 36

    Thanks for your reply. We 100% plan on working with a attorney in drawing this up. I just was like looking for some simple advise as so that we have some kind of idea of what were want to make sure is in the contract ect.

    Just dont want to walk in and have no idea what we want ect.


    Thanks again.
     
  4. Team Gopher

    Team Gopher LawnSite Platinum Member
    from -
    Posts: 4,041

    Hi 2_Djinn,

    You are welcome. Let us know how it goes and what you learned from your meeting.
     
  5. LB1234

    LB1234 LawnSite Gold Member
    Posts: 3,210

    I would recommend visiting a bookstore (or library) and purchasing a book at starting a partnership (or whatever entity you want to form). Some of these books have a CD included that provides you with fill in the blank forms. I'm not suggesting you use these forms...but it will give you some great ideas on what to include. You can get some good books for under 50 bucks.

    Some simple things would be the following:

    Who is in charge of what
    Who is reponsible for what
    What % of company owned by person x and person y
    How are you both paid
    In the event one dies what happens
    If one of you is injured what happens
    If one of you quits what happens
    After z # of years person x can buy out the company for x
     

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