golfcartmama Posted January 10, 2011 Share Posted January 10, 2011 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! Quote Link to comment Share on other sites More sharing options...
MariannNOVA Posted January 10, 2011 Share Posted January 10, 2011 I hear you. Praying -- :grouphug::grouphug::grouphug: Please let us know how it all works out. Quote Link to comment Share on other sites More sharing options...
Starr Posted January 10, 2011 Share Posted January 10, 2011 Praying for you! It sounds like a very trying situation. Quote Link to comment Share on other sites More sharing options...
Lara in Colo Posted January 10, 2011 Share Posted January 10, 2011 I sounds very trying and I will be praying for you. Have you tried an independent evaluator? Lara Quote Link to comment Share on other sites More sharing options...
Catwoman Posted January 10, 2011 Share Posted January 10, 2011 :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 Quote Link to comment Share on other sites More sharing options...
RoughCollie Posted January 10, 2011 Share Posted January 10, 2011 :grouphug: and prayers. I hope everything works out well for you. Quote Link to comment Share on other sites More sharing options...
golfcartmama Posted January 10, 2011 Author Share Posted January 10, 2011 I sounds very trying and I will be praying for you. Have you tried an independent evaluator? Lara We haven't yet, but I'm certainly open to the idea. I have consulted an attorney and they tell me my offer was very reasonable to her. Quote Link to comment Share on other sites More sharing options...
Gratia271 Posted January 10, 2011 Share Posted January 10, 2011 I will be praying for you! Quote Link to comment Share on other sites More sharing options...
golfcartmama Posted January 10, 2011 Author Share Posted January 10, 2011 :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! Quote Link to comment Share on other sites More sharing options...
Stacie Posted January 10, 2011 Share Posted January 10, 2011 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. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.