[anderclean]

hi guys

got a question that some of you may have some ideas about - but most won't.
i have an excellent quality round built very carefully over the last 7 to 8 years, on the back of 15+ years hard experience previously.
long story short;
my number 1 guy (employee) wants to buy into the business to earn more money.
now with this little information (and franchises aside) do you know how this might work !?
i will see our accountant soon but just wondered if any of you guys had been in this situation.
please email me at  rob-anderson@blueyonder.co.uk
or reply here,

any help much appreciated
rob

[Platinum]

Depends if you would like to give away any of the business.

Some large companies do give shares as part of pension plans but it depends on what you want to do.

If the employee is pressuring you with let me buy in or im off let him go. If you cant or dont want to give him a salary raise then dont. Dont forget in a partnership before you can act on a decision you would need to consult your partner first.

If your fine with that think about what he will bring to the business that will improve on what you already have. If there isnt much i wouldnt even consider it. If its a yes think hard about if you would get along and if there would be any conflict of interest in the partnership.

I could be wrong but i think your employee is holding you to ransom using your company as leverage. I would let him go and find someone more loyal. He may start up in competition with you but many fail because they dont have the qualities to be successful

Best Of Luck
Danny

[daz1977]

what u got to work out how much ur business is worth and how much he wants to buy, 

is he only wanting to buy in a he thinks you are making a fortune of his work

i nearly went in to partnership with my bro in law,  but he was demanding 500 a week, even if he wasnt working  so told him to stay where he was working

what happens with the money he pays you  does it go to you,  or does it have to go in to business,     what happens if you need new stuff,  who decided what u buy

ask your self do you need a partner

[anderclean]

thanks for your replies blue and danny,

no - he's not in anyway holding us to ransom - he just has some money and i asked him if he'd be interested - which he is.

i'll know a lot more when i've seen the accountant, but your replies are much appreciated and food for thought...

[daz1977]

letting him buy in  as u asked him might be good,  as the business might grow  and u will have someone else to take a bit of the hassle and stress,  if you do get a first option on buying back his share as u dont want him to sell up to any one

[anderclean]

thanks blue


any one know about franchising ?

thanks...

[richywilts]

thanks blue


any one know about franchising ?

thanks...

ian lancaster is ya man if ya see him online he franchises out using his own name