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Takeing on a partner

Bryants Lawn Care

LawnSite Member
Location
Largo FL
Hello guys this is my first time im new to the site.I had a custamer ask if I would be interested in takeing on a partner.Although im doing well by myself.I think I could double my production with better equipment truck etc. So my question is this. Would this be a good idea and how would you estimate your buisness worth. Im a semi new buisness owner I have about 45 yards and im doing fine but I want to take the next step. I would app. some feed back. Thanks B.L.C:blob2: :blob2:
 

mtdman

LawnSite Gold Member
Location
A2, Michigan
NO PARTNERS!!! Especially if you don't know the guy. Most guys here will tell you it's hard enough to have a partnership with someone you know, let alone someone you don't know. If you want to increase production, add an employee. If you want better equipment, buy it. But stay away from adding a partner.
 

aries

LawnSite Senior Member
Location
nj
Don't do it I was in partnership w/my brother for 7 years in the early 90's and it sucked I got stuck doing all the work ! finally I backed out of it had to give it up walked away from my share of the accounts to not create a family feud anyway 2 years later he had lost all the accounts all my hard work gone in 2 years! lazy 70 ACCOUNTS gone hope that helps u decide.



Joe
 

twins_lawn_care

LawnSite Senior Member
Yeah, I'd have to say no. Especially as this guys seems like he just sees your success and wants in. If you definitely want to take the next step, consider just hiring this guy to do your work, not be your partner!
I learned the hard way, as many others did :eek:
 

bobbygedd

LawnSite Fanatic
Location
NJ
no way, no way, no way, no way. that's my final answer
 
OP
B

Bryants Lawn Care

LawnSite Member
Location
Largo FL
I here what your saying but he is retired and just would like to stay active. He only would work a few days a week for the exercise . After he bought in wich I still would like advice on a good way to vaule my business,we could split 2 to1 the profit .Its not about money with him he would like to stay active and is a skilled carpenter and wants a change he just would like to invest in my company and work a littel to . Im really not in a great finachal state right now but im ready to take the next step Thanks guys for the feed back. B.L.C
 

jc1

LawnSite Silver Member
It sounds like you have decided to let him buy in. Even after many replies advising against it. Everyone that starts a partnership thinks the same thing that there partnership will be different. In the beginning it may work great because both of you are excited but after awhile I believe you will wish you had not done it. My 2 cents is to not do it and I speak from my own experience. I recently ended a partnership and make more money then before working the same hours.
 
OP
B

Bryants Lawn Care

LawnSite Member
Location
Largo FL
Thanks everyone I think I will heed everyones warning and nut up and geter done.After all none of the stories are good. Thanks again.B.L.C
 
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