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I'm entering into a partnership.
- Thread starter artbot
- Start date
Gino
Premium Subscriber
Good luck there, art..... you deserve it. 
Partnerships are tricky and as mentioned can be very trying, if not downright crazy. Don't ever let anything go by... you don't understand and make sure everyone is accountable for their part in the union.
You're a really smart cookie and I'm sure you'll keep those guys under control.
Partnerships are tricky and as mentioned can be very trying, if not downright crazy. Don't ever let anything go by... you don't understand and make sure everyone is accountable for their part in the union.
You're a really smart cookie and I'm sure you'll keep those guys under control.
Just make sure they never muscle you out, unless you're contemplating it first. In other words, keep some [controlling] knowledge to yourself.
J
john1
Guest
Yeah i wish you the best of luck.
I was going to go into a partnership earlier this year for a store front but i am so glad i did not, That guy has no clue where his money is going or anything i found out.
I was going to go into a partnership earlier this year for a store front but i am so glad i did not, That guy has no clue where his money is going or anything i found out.
Arlo Kalon 2.0
New Member
I've had two guys as customers for years with the most successful multi million dollar earning partnership I ever saw. I asked one of them once why it has worked so well and he said because I am the one with 51%. Somebody with a final say is absolutely crucial.
SignManiac
New Member
Partnerships rarely work but a few do. I have one of the best ever, ten years going strong. When they do work, it's amazing what you can accomplish. When they don't, your life will be miserable. I've had both.
showcase 66
New Member
Awesome. Congrats. The best of luck to you and your partners. Sounds like you took your time and worked over everything to this point. Looks like a lot of work to do so have fun and enjoy it.
SebastienL
New Member
Congrats!
ForgeInc
New Member
Partnerships CAN work, some of the best decisions we have made are because either myself or my business partner brought a new perspective to a decision the other didn't think of.
As we are a new business getting everything started was the toughest part for us, and negotiating buy/sell agreements before the business even starts can get frustrating and depressing because you are trying to decide what happens if the business starts to fail, but it's crucial to have that stuff settled beforehand. (stating the obvious of course)
It's amazing the stuff lawyers bring to the table for you to think about....
Good luck Artbot, can't wait to see the stuff you start making!
As we are a new business getting everything started was the toughest part for us, and negotiating buy/sell agreements before the business even starts can get frustrating and depressing because you are trying to decide what happens if the business starts to fail, but it's crucial to have that stuff settled beforehand. (stating the obvious of course)
It's amazing the stuff lawyers bring to the table for you to think about....
Good luck Artbot, can't wait to see the stuff you start making!
sar bossier
New Member
Congrats, best of luck, Artbot! I, too, live 65 miles from my shop - the drive SUCKS! (lol). Gonna sell my house as well ... someday.
artbot
New Member
the details are exhausting. discussing them is no different than doing a prenup for a marriage. so much money and or debt can hang on a single percentage point or phrase.
it's going to be a shock to have so much room and so much equipment. i'm still as cheap as the come. tomorrow i'm taking down a spray booth that i bought for $11 on ebay. at first the partners were making fun of my frugal craigslisting and ebay searching but they are starting to encourage it.
it's going to be a shock to have so much room and so much equipment. i'm still as cheap as the come. tomorrow i'm taking down a spray booth that i bought for $11 on ebay. at first the partners were making fun of my frugal craigslisting and ebay searching but they are starting to encourage it.
Congratulations on your new partnership.
This could not have popped up on 101 at a better time. Yesterday I was confronted by a good friend who has been in the business for about 10 years asking me if I would be interested to join forces and create a new business partnership. I have been in the business for 6 years.
Artbot can you direct me to the other thread you started regarding partnerships. I would love to read the feedback you were give by all the knowledgeable people here on 101.
This could not have popped up on 101 at a better time. Yesterday I was confronted by a good friend who has been in the business for about 10 years asking me if I would be interested to join forces and create a new business partnership. I have been in the business for 6 years.
Artbot can you direct me to the other thread you started regarding partnerships. I would love to read the feedback you were give by all the knowledgeable people here on 101.
particleman
New Member
Good luck, sounds exciting!
artbot
New Member
@rcook99
here's the thread.
http://www.signs101.com/forums/showthread.php?t=84576
one of my main reasons to do this was scale. business is changing. more and more, things that used to be medium sized businesses are being shifted to massive operations. take service king (collision repair). body shops are much like sign shops. you'd think that no massive company could deal with the detail oriented issues of collision repair. yet, everywhere i see less and less body shops and then yes, there's the massive "service king" building.
i have the advantage of having this execution manager working with us. at first, i couldn't stand the guy. but now that i've seen him running between employees and attorneys and owners, smoothing out issues, talking people down from their high horse, i'm starting to think he is worth this hefty salary. it seemed stupid. but then he turns companies around. we wouldn't be able to afford this massive venture if it weren't for the funding company spending the effort to get "their" execution right. as much as i hate having him critique me and my model, i'll be listening because this guy can see thought the BS and keep complex models on point.
here's the thread.
http://www.signs101.com/forums/showthread.php?t=84576
one of my main reasons to do this was scale. business is changing. more and more, things that used to be medium sized businesses are being shifted to massive operations. take service king (collision repair). body shops are much like sign shops. you'd think that no massive company could deal with the detail oriented issues of collision repair. yet, everywhere i see less and less body shops and then yes, there's the massive "service king" building.
i have the advantage of having this execution manager working with us. at first, i couldn't stand the guy. but now that i've seen him running between employees and attorneys and owners, smoothing out issues, talking people down from their high horse, i'm starting to think he is worth this hefty salary. it seemed stupid. but then he turns companies around. we wouldn't be able to afford this massive venture if it weren't for the funding company spending the effort to get "their" execution right. as much as i hate having him critique me and my model, i'll be listening because this guy can see thought the BS and keep complex models on point.
FireSprint.com
Trade Only Screen & Digital Sign Printing
Fantastic. That's a huge operation.
We're a partnership here and it's going very well so far. Four years and counting.
We're a partnership here and it's going very well so far. Four years and counting.
Jack Knight1979
New Member
This looks great ArtBot!
There are ten of thousands probably millions of partnerships that work fine. You'll be fine.
The problem with small business partnerships is that there's no money being made and the partners turn on each other to survive. You've got to make sure there's revenue. It sounds like that part is covered.
Congratulations and best of luck to you, sir!
There are ten of thousands probably millions of partnerships that work fine. You'll be fine.
The problem with small business partnerships is that there's no money being made and the partners turn on each other to survive. You've got to make sure there's revenue. It sounds like that part is covered.
Congratulations and best of luck to you, sir!