[East coast window cleaning Services]

At the stage at the moment of should i employ or get someone to buy in? last year i bought my business partner out for 3.5k as hes moved to the states, Now its do i take someone on? or should i tout about for someone to buy in? what i was thinking and tell me if you think im wrong guys is getting someone to come in for example 5/6k and buying a large round with it,  say something that brings in 2.5k to 4k an month. so that the guy thats buying in is getting a decent wage? Thoughts welcome

[TERRY AB]

Thats a question that only you can answer, It all depends on finding the right Employee or Partner, a Dliemna we all face at some stage, dissapointments are Guaranteed!.
Have you or for that fact other Forum members never thought of working together with another self-employed WC, you could then help each other out, ie.  when you are on Holiday or need help on bigger contracts, just split the money 50/50 on each Job done together.
If you find some one who is willing to pay for a stake in your Company, what are you going to do if he isnt as quick or conscienscous enought as you ?. Arguments are going to happen, youd need to think of all these possibilities and make a water tight contract, an Employee wont have any say in how you work, hes only interested in his wage, but beware if he eventually goes it alone and steals some of your customers.
I think it boils down to the fact who will you be able to trust most and who wont let you down.
Terry

[East coast window cleaning Services]

Terry my thought exactly mate some good point there mate

[paulstevens]

P & R Cleaning Services you have mail mate

[SherwoodCleaningSe]

What would happens if somebody puts the money up front and then working with you has an accident or has an accident when on holiday and can't work for months.  If they owns a percentage of the business would they still be entitled to a profit share even if they didn't work, or maybe after a bit they choose to sell their share to someone you don't get on with.  Just a little something to think about.  Hope it all goes well.

Simon.

[russ_clark]

My advice would be a definate NO NO
in relation to a partner.
It never really works.
employ someone pay them a good whack and tell them you want them to manage the business for you when you retire  

[East coast window cleaning Services]

With regards to a partner theres only two people i would have , a very good friend of mine whos looking for a change  or me brother in law. But i do take on board what your all saying i had a partner before who was 100% trustworthy but had no business brain took on more work now he's gone.

[NWH]

If you want him to stay a good freind forget it,you see a different side to people where business is concerned.

[russ_clark]

I set up a business with my brother-in-law (not w/c)
He tried to shaft me financially
Untold family grief.
Like I said a BIG NO NO !

[marc al]

  I think taking on a partner is an absolute no.

  Partnerships are few and far between that are long standing success stories, the only one I know of is my father and his business partner - 45 years as builders - but neither of them like the way the other goes about things!

[East coast window cleaning Services]

Thanks lads uve made my mind up Is a big fat NO think just take someone on.

Thanks again Boys
Ricky

[Andy@w.c.s]

DO ?
DO NOT !
DO NOT DO!!
DO NOT DO IT !!
I have had only two partnerships , the first was an employee that i worked with everyday for two years , he was a good bloke and wanted something more than working for someone else .
so after a while  he said "I'm thinking about going out on my own " and to cut a long story short , he became a partner in the business , It finally came to a head when i found out that he was having two hour lunch breaks with his girlfriend  and the best of that was he would leave an other bloke in the van in a car park for the same length of time
two guys out all day and only earning £40 per day  who was the mug
The other experience to date has left me at least £5k out of pocket and we haven't even brought this project to market yet , and he's still got a 10% stake it the company so who Knows how much more
My Advice steer well clear

Might be a little bias but its happened to me and i'm not the only one

[Dave Turley]

hiya

do you not think you might be better off selling or dropping your worse priced work and keeping all the best work for yourself??

 

[Ian Lancaster]

At the stage at the moment of should i employ or get someone to buy in? last year i bought my business partner out for 3.5k as hes moved to the states, Now its do i take someone on? or should i tout about for someone to buy in? what i was thinking and tell me if you think im wrong guys is getting someone to come in for example 5/6k and buying a large round with it,  say something that brings in 2.5k to 4k an month. so that the guy thats buying in is getting a decent wage? Thoughts welcome

Apart from the initial purchase price, what do you get from taking on a partner?

I would have thought the whole reason to take on partners or employ people is to gain a financial advantage?  What does the partner contribute after he's bought his 2.5 to 4k round?

[Easyclean Windows]

I had a business partner never never again in my life im so glad im now running this bussiness on my own DONT DO IT

[sussex187]

another thing you have to think about is their ongoing financial situation e.g if you van needs loads of work or even replacing could he foot half the bill or you always gonna be the one digging deep.will they pay the appropriate duties if not you would be in strife my advice is steer clear