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I need some prayers and good thoughts!


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I know this isn't a life threatening situation and I feel a little silly even asking with what aveyone else seems to be going through right now...but it is certainly weighing on me HEAVILY.

 

My business partner wants out b/c of personal issues (at home, not between us) and we have no written agreement. We cannot/have not reached a buy out price and it's starting to get messy. I don't want it to get messy, I'd rather dissolve and walk with my half. We're also on a tight schedule as our next session is less than 60 days from now and I'm having to field calls from clients, vendors, etc. daily.

 

I do need the income or I might have to put the kids back in ps and go back full time, if I could find a job. Things are tight and we've had many major repairs to contend with in the past 6 months at home. So, if you have it in your heart, I'd appreciate the prayers and good thoughts!

 

Thank you so much!

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:grouphug::grouphug::grouphug:

 

Of course I'll pray for you!!!

 

Partnerships can be stressful at the best of times, but when things start to go south, it can get ugly. I hope you are able to resolve your difficulties soon, and that your partner becomes more reasonable.

 

Can you dissolve the company and start your own? Will your clients/customers/vendors support you in your new venture? Does your partner want to do the same thing, or does she want to get out of the business completely?

 

Cat

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:grouphug::grouphug::grouphug:

 

Of course I'll pray for you!!!

 

Partnerships can be stressful at the best of times, but when things start to go south, it can get ugly. I hope you are able to resolve your difficulties soon, and that your partner becomes more reasonable.

 

Can you dissolve the company and start your own? Will your clients/customers/vendors support you in your new venture? Does your partner want to do the same thing, or does she want to get out of the business completely?

 

Cat

 

I can TOTALLY start my own again, and I'm ready to, but the deadline is the problem. I just need her to make her decision b/c keeping my current brand would be easier. I hope that my clients would stay, I think that if I lose a few, I can replace them without too much extra work...I just kind of feel like I'm lying now when they call and ask about this season and I have to put them off.

 

She says she wants out totally b/c of issues within her family so I have to take her word for that.

 

I will NEVER enter into another partnership again, that's FOR SURE!

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You can have the accountant you use to do your financials (taxes, payroll, etc.) place a value on your business. Using your own attorney can appear to show bias, but using someone familiar with your business and independent can give you both a comfortable starting point.

 

Is she open to becoming a silent partner, maintaining some ownership and enjoying some of the profit distribution but having no input into the daily decisions? If you schedule her buyout payments over a few years you can keep some of the capital in the business and you can come up with a longer term to the buyout, and share the profits with her.

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