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creweexcel

  • Posts: 125
howdy pardner
« on: August 15, 2008, 04:10:54 pm »
what would you do if someone you partly knew wanted some advise about starting up a cleaning business and then says do you want 15% share , just for knowledge , no capital to go in. also i get to clean her ovens for her. would you take it?
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hotsteam

  • Posts: 425
Re: howdy pardner
« Reply #1 on: August 15, 2008, 04:37:42 pm »
 15% share of what ?    15% share of zero profit is yes zero
Best of luck Hotsteam
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Joe H

Re: howdy pardner
« Reply #2 on: August 15, 2008, 05:06:36 pm »
Is her busness a threat to yours?

If NO, then it doesnt sound a bad deal on the surface.
OK she gets your knowledge but you get a link in to oven cleaning for no capital outlay, then 15% of profits.
How long is the 15% share for - if its for one year then profits maybe zero - got to be at least 5 years.
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creweexcel

  • Posts: 125
Re: howdy pardner
« Reply #3 on: August 16, 2008, 07:30:39 am »
no threat to my business 20 miles from me, she is new to business, and she seems to want my experience and sees it as a long term deal. of course i am getting partnership aggreement drawn up.
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garyj

Re: howdy pardner
« Reply #4 on: August 16, 2008, 01:53:46 pm »
For 15% is it worth it? Will it be a Ltd company or a partnership? I would be very weary about who I went into business with, especially if it is someone I hardly knew.
Sounds like she needs your experience and expertise to set up and is getting it very cheaply.

Also you will be jointly liable if it all goes wrong.

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