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LLC question

Discussion in 'Business Operations' started by CandyAces, Feb 9, 2011.

  1. CandyAces

    CandyAces LawnSite Member
    Messages: 26

    I have a friend that has his own landscaping company (sole Proprietor). I want to join his business 50/50 by forming a LLC. The problem is he has enough equipment for one man paid for already and I need some new equipment to join.
    Does anyone have a suggestion of how to merge financially? I need a new blower and mower Before we can both work together.
     
  2. srl28

    srl28 LawnSite Bronze Member
    Messages: 1,177

    2 Words, Stay away! Generally speaking partnerships are a bad idea, rarely works out and works out well. I can imagine that the risk of it failing and going very sour is much higher when you join into a pre existing up and running business.
     
  3. eco.lawns

    eco.lawns LawnSite Member
    Messages: 183

    Bring capital, equipment, or revenue into the business to match what he has before you can collect 50%
    Posted via Mobile Device
     
  4. gasracer

    gasracer LawnSite Bronze Member
    Messages: 1,049

    This has the making of a bad situation......Buy what equipment you need and continue on..
     
  5. DA Quality Lawn & YS

    DA Quality Lawn & YS LawnSite Fanatic
    Messages: 8,978

    I kind of agree with above. Have heard bad things about partnerships.
     
  6. Cajun Cleanin'

    Cajun Cleanin' LawnSite Member
    Messages: 115

    Rule number 1 Never go into partnership with a friend,family member,stranger,enemy,or kangaroo.Rule number 2 see rule number 1.
     
  7. bohiaa

    bohiaa LawnSite Fanatic
    Messages: 5,220

    maybe you should work with him a while to try it out, have him pay you like 10.00 per hour, see if you two get along, and take it from there.
    this type of work is NOT for everyone, and partnerships are VERY hard,
     
  8. CandyAces

    CandyAces LawnSite Member
    Messages: 26

    Thanks for the advise guys.
     

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