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| 12:02 AM | ||
| Users Online Now: 1,831 (Who's On?) | Visitors Today: 4,102 | |
| Pageviews Today: 5,516 | Threads Today: 1 | Posts Today: 21 |
| 12:02 AM | ||
Serious business advice needed please. Partner wants me to buy them out | |
| Anonymous Coward User ID: 73012928  United States01/01/2017 10:14 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 73700061 United States01/01/2017 10:16 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 70754183 United States01/01/2017 10:17 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 72831276 United States01/01/2017 10:18 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 54513945 United States01/01/2017 10:18 PM Report Abusive Post Report Copyright Violation | |
Larry D. Croc  User ID: 70736097 United States01/01/2017 10:22 PM  Report Abusive Post Report Copyright Violation | What's the amount each of you put in and, more importantly, what's the average operating profit before taxes for the past two or three years? A business is only worth operating income when you come right down to it. Also, what hours are each of you actually working and how do you pay yourselves, i.e. how much salary do you each draw per month? "Socialism only works in two places: Heaven where they don't need it and hell, where they already have it." Ronald Reagan The trouble with our liberal friends is not that they're ignorant; it's just that they know so much that isn't so." Ronald Reagan |
| Anonymous Coward User ID: 71264349 United States01/01/2017 10:27 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward (OP) User ID: 73012928 United States01/01/2017 10:29 PM Report Abusive Post Report Copyright Violation | What's the amount each of you put in and, more importantly, what's the average operating profit before taxes for the past two or three years? Quoting: Larry D. Croc A business is only worth operating income when you come right down to it. Also, what hours are each of you actually working and how do you pay yourselves, i.e. how much salary do you each draw per month? That's the thing, it's been operating in the negative because she doesn't want to grow it at all, so we've made no profit. We don't draw a salary. We each put in about 3k as an initial investment. I know I can make it very profitable without her. |
| Anonymous Coward User ID: 73706172  United Kingdom01/01/2017 10:48 PM Report Abusive Post Report Copyright Violation | Work out the company liabilities, then ask her how much she wants / expects from you to buy her out. Accept, or make a counter offer based on your figures including an offer for her to buy out your share. You do not sound much of a business person if you can't figure this bit out. |
| Larry D. Croc User ID: 70736097 United States01/01/2017 10:51 PM Report Abusive Post Report Copyright Violation | No offense but you don't have a business, you have a hobby; a very expensive hobby. What type of business assets do you have? Inventory, supplies, literature, website obligations, lease, etc.? You may end up taking inventory and offering her 50% of the inventory value as her "fair share" and wish her well. Oh, I'd want to have her sign a letter saying she won't compete in any way with the business, suppliers, existing customers, etc. for 12 months just to stay on the safe side. Don't want her trash talking you when she finds out she's not sitting on a $25,000 gold mine. "Socialism only works in two places: Heaven where they don't need it and hell, where they already have it." Ronald Reagan The trouble with our liberal friends is not that they're ignorant; it's just that they know so much that isn't so." Ronald Reagan |
| Anonymous Coward User ID: 70827487 United States01/01/2017 10:59 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 73496671  Canada01/01/2017 11:00 PM Report Abusive Post Report Copyright Violation | Lower the value of the business then buy her out cheaply (50% of value of business). Then grow it if you know how. Quoting: Anonymous Coward 72831276 Thats what i was thinking. Or run it into the ground so hard that she walks away or turn tables on the lazy old bag. Once she tells you what she wants tell her to buy you out for that much then |
| Dave User ID: 72044996  Australia01/01/2017 11:10 PM Report Abusive Post Report Copyright Violation | Hi guys I need some advice regarding a business that I own. I have a lazy business partner who doesn't do much of anything really. She is planning on retiring soon and wants out. We are 50/50 partners. We both put the same amount of initial investment into the business. The business is currently not making any profits. I want to grow the business and she does not want to put anymore Capital into the business since she is planning on leaving. Now she's asking me to buy her out. I'm not sure how any of this works. I told her I would buy her portion of what she paid for the furniture but since the business isn't making any money that's all I could give her. Any advice on how to handle this would be appreciated. Thank you so much glp community! Quoting: Anonymous Coward 73012928 Go to your accountant and ask given that im not currently making a profit if I needed to sell my company as an ongoing trading entity including all assets and stock what is a fair value for the company that would attract a buyer in the he 3 to 6 month time frame. Value to include breakdown summary on how value was derived. That way you discuss on an impartial level. As a side note on partnerships and joint ventures people should always add a clause on how to divest from the arrangement. What's the process, can owners sell shares without offering to partner, how is value to be calculated, what time of year, what happens at death, etc,etc, |
| Anonymous Coward User ID: 73273620 United States01/01/2017 11:16 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 73711148 United States01/01/2017 11:26 PM Report Abusive Post Report Copyright Violation | What's the amount each of you put in and, more importantly, what's the average operating profit before taxes for the past two or three years? Quoting: Larry D. Croc A business is only worth operating income when you come right down to it. Also, what hours are each of you actually working and how do you pay yourselves, i.e. how much salary do you each draw per month? That's the thing, it's been operating in the negative because she doesn't want to grow it at all, so we've made no profit. We don't draw a salary. We each put in about 3k as an initial investment. I know I can make it very profitable without her. First of all, what does your initial business contract/partnership say? Then chose the cheapest alternate. Which in this case sounds like selling the business. Form a new business - firstly. Second, get your current business appraised. Offer no more, in fact try to negotiate down. Let me ask you this. If you walked away, what would you GAIN and what would you LOSE? Might be better just to relinquish your share to her and dump it on her lap. ...take the loss and move on. |
| Anonymous Coward User ID: 73711295  United Arab Emirates01/02/2017 12:09 AM Report Abusive Post Report Copyright Violation | |
