Partnership or not?

Discussion in 'Business Operations' started by will@otherside, Aug 13, 2001.

  1. will@otherside

    will@otherside LawnSite Member
    Messages: 13

    :rolleyes: I really need so advise from some of you more experienced lco's out there.Here is the deal I am in my first full year as a lco and loving it.My income is not where I would like it to be but I'm getting there.I had a customer of mine ask just today if I would consider letting him buy in to my bussiness.I know that he has the capitol to do so and he has been very successful in other bussiness endevors.I feel that I need to give a little info on my bussiness to to help in my question.As i said before this is my first full year in the bussiness and I have roughly twenty five hundred dollars a week in mowing accounts as well as the occasional mulch job{$500} on average .My equipment consists of a Scag Turf Tiger 60" w/25hp kohler 2k model Scag 48"hydro w/b 2 shin eb 630 b/p blowers 3 echo trimmers 7X20 trailer 3.5 hp power edger small troy built chipper shredder and a truck load of other misc hand tools as well as a Dodge Ram 2500 diesel.Here are the questions: 1 Should I let him buy in ? 2. What would be a good figure to start with?:confused: :confused:
  2. lawnperfections

    lawnperfections LawnSite Member
    Messages: 63

    I am in a similar situation, I asked the same question 2 weeks ago and got about 50 responses. click the "search" button on this reply and you will see it under " I need you advise". I still don't know what I'm going to do. I'm suppose to meet with the guy again on Sunday
  3. 65hoss

    65hoss LawnSite Fanatic
    Messages: 6,360

    Why would a customer want to be a partner? He doesn't even cut his own grass. For a 1st year you are doing good, why mess it up by splitting everything including decisions with a partner? You loose control and freedom with a partner.
  4. peacedog

    peacedog LawnSite Member
    from Utah
    Messages: 19

    Questions to answer:
    1) Do you need his capital to continue your business?
    2) Will he be involved in decision making?
    3) What percentage of the business will be his?
    4) Can you get along with him?

    If you don't need his $, don't let him buy in. Once he has bought in, he may tell you how to run your business, and you may not agree with him or even like what he is saying.

    I would advise against it, unless you need the $ (and not for your own salary = cash won't last long!)

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