[mark dew]

hes my best mate and im going to be best man for him in july.

That setlles it for me. Don't do it. Look at it as a choice. Friendship or business partner?
And with the best will in the world, he is human and won't be able to be both.
You have a tidy little business at the moment and a best friend. Why throw both up into the air? Business can be done anytime. Friends like you 2 are now is much harder to come by.

Regarding how much your business is worth, i think it is already grossly undervalued (without knowing your value) due to you considering selling parts off when the majority of hard work is done.
Optimise it now, while you are so close to achieving full potential. Then consider bringing someone full time.
There are plenty of other ways of getting your friend more involved into the business. Equal partnerships don't work.
He is your friend. Don't let him linger on the idea of becoming your partner for too long. That can cause problems if it doesn't materialise.
Income and profit share should commit him to your business just as much. And if you can grow it at 1/2 the rate you have, you would need more employees in 3 years. And your mate sounds like he would make a good manager. Of your business. 

[richywilts]

cheers mark thats good advice the reason hes just a bit short at mo is hes been supporting his wife to be for last 3 years while she did a midwife degree away from home iv got full faith in him its just a hard one to draw up and decide what situation would work the best as its not just the window cleaning were planning on doing.

i was thinkin maybe setup a limited company start at a 70/30 split then increase his share ownership 10% each year and maybe have one person who is in charge overall

[mark dew]

cheers mark thats good advice the reason hes just a bit short at mo is hes been supporting his wife to be for last 3 years while she did a midwife degree away from home

All the more reason i think to not let the idea of partnerships become too ingrained. Especially at this stage of your business.

iv got full faith in him its just a hard one to draw up and decide what situation would work the best as its not just the window cleaning were planning on doing.

i was thinkin maybe setup a limited company start at a 70/30 split then increase his share ownership 10% each year and maybe have one person who is in charge overall

10% increase on 30% would give him 53% of the company in 6 years.
I just can't get on with the idea of giving away ownership. That side doesn't make any sense to me. You just don't need to do it.
Pay him equal shareholder wages if you want to. It's the giving away of your company that doesn't make sense to me?
You will cease to be boss and will become an employee like everyone else. Who just happens to own shares in the company.
You have nothing to gain and everything is possible to lose. Friendships are worth more.
Lol, you sound determined to become partners and the reason given against this is not about anyone ripping anyone off. It is about jeopardising a good friendship.
If/when you do become partners, keep it well away from your core business.  Which is window cleaning. Become partners on new ventures you take up. 
The thing with a window cleaning round is that you can always fall back on this while maintaining your lifestyle.
Share everything else but leave the window cleaning round for yourself.

[Steve CM]

2k a month is barely enough to live on before costs.

i would work on your own get up to a full round of say about 6k? then look at it. I wouldn't recommend any partnership and would say that if you need someone to assist you in anyway, pay them for their services so you still have the final say!!

[dazmond]

i wouldnt ever set up any business with a friend.history is littered with broken friendships,resentments and hassle.i used to have friends working for me and that didnt work out!

i would say stick to building your round up as youve got  a base now to grow bigger.i wouldnt even have him working for me!if you need help get someone whos not your best mate and let your mate start his own business thats seperate from yours if you want to stay friends!

just my opinion.....dont do it!

dazmond

[bluez]

Partnership agreement is essential, set the ground rules for the breakup at the begining.

It seems to me that you may be a bit premature in selling half your business just yet. Maybe explore the option of buying work, to create the turnover to give steve an income out of which he could then consider investing in your business.

I would have no issue if you were starting out but for you to give away 1/2 of what you have built up now would be foolish imo.

[formb]

I have been running my business for 10 yrs. I have employed pretty much all of my mates at some point.

Sometimes it works.

You have to be clear from the start. Get a partnership agreement drawn up. Decide who will be ultimatley calling the shots.

It will become the only way eventually.