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I started out recently doing mostly home repair work. A good friend of mine suggested a couple of months ago to partner up and do jobs together. I agreed thinking that nothing would really come of it. Well we have had our share of work together and it looks like there is work out there.
I decided to put my nose back to the books and get my builders license and also get insurance and maybe start a business. ( a side business) The thing is, I really don’t want a partner. The guy that works with me is a great guy and I totally trust him but, I want to be the only one making decisions and creating my own path to success (or failure).
My question is, how do I approach him that I want to go on my own without hurting a friendship? Like I said, he is a good friend and I get along with him good (actually our families are real close too) I don’t really want to strain our friendship that we have. I can’t find a tactful way to discuss this with him. Any ideas? Thanks
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Been there, done that. If you find a good way, let me know.
Andy
*Well gee wiz, Andy, you coulda just told me.
*pantango.. sooner is better than later... and honesty is better than avoidance...lay it out ... give him some options... fix a mutually agreeable cut off... like when all of the current work is completed.. and be scrupulous in deciding everything against yourself and in his favor.. so you can look back and say you really bent over backwards to not burn any bridges...partnerships are harder than marriages to be successful in.. at least in a marriage you both are working for the same benefit.... your family..partnerships are pulled apart by the other responsibilities of the partners...if both are married to other people, it is that much harder..your partnership started out as an informal thing... now it is at the stage where you have to go forward or cut the strings.. it is a natural progeression...
*Everything ends badly...or it would'nt end. Set fire to the bridge and run. Figure you'll never come back that way anyway. Tear off the rear view mirror and run like your ass is on fire. If you don't, you'll always wonder if he's gonna knife you one way or another. Better to have a known enemy than an unknown one. Sorry. I hope others will correct the errors in my ways.......after this long along, all I know is... all I know.
*Had a partner for about three years. We are still best friends. Wish it had never ended but it did. Partnerships CAN work. But if you dont want a partner...just tell him what you told us. He very well may understand.
*Where is Paul Simon when you need him?Rich Beckman
*Pantango, just print out your post and give it to him.If it's a true friendship, splitting the business won't be a big deal. Maybe, you could offer to split, and maybe keep your options opened for some singular limited deals in the future. I love the contracting business...everyone wants to be against everyone....even their friends!blue
*I knew a couple of really good guys, who had a successful contracting business for about ten years. Probably did 25M together in that time. Really made me believe in partnerships. One was having a lot of personal problems and the other decided he wanted out. He did exactly like Mike said. The other guy basically walked away, and left the guy who wanted out holding the bag. Bad mouthed him pretty good.It reminded me of a the jilted lover syndrome. But that's about the best you can expect. The funny thing is the guy who wanted out could have went on without the other, but not vice versa.Be honest, you only have control of your own integrity.
*I have been in a partnership for almost 25 years and am content with it but if one of my partners wanted out, I would completely understand. Talk to your partner. Set a date for the break. Get on with your life.
*Hey Pan, your partner doesn't lurk this forum does he ?b : )
*If he does, then I guess I don't have to tell him. I think the sooner the better also. We have a job this weekend putting a bathroom in a basement. I will probally tell him then. Another thing about the partnership that kinda turned me off was, I wanted to get my builders license and get insured for our own protection. He said he doesn't want to get involved with licenses and insurance and putting his name on a business, so I figured if I'm going to do all the work in making sure I'm legal why should I drag him along. I'll tell him that he can still work with me, but it will be FOR me and I'll pay him for any job that he does. I'm not splitting 50/50 after this job. Thanks for the replies guys. As always your a big help.
*It cost me eight grand to get rid of a "partner" when he sued me for twenty five grand for alleged profits on jobs he abandoned. Get an agreement in writing or you'll be writing a check for eight grand too.
*pantangoHow long have you be "partners" with this guy?Was there any formal agreement as to what constituted the partnership?If he knows that you want to get insurance & a license, he probably has already figured it out.Be careful the way you "offer" to let him work "with" you. Going from partners to BOSS - EMPLOYEE to CONTRACTOR - SUB can possible cause problems down the road. Right now, he is used to being an equal with you.Keep us informedVince
*Looks to me that he has already told you he doesn't want to be your partner when he said he didn't want to do it right. So, just tell him that you have such different ideas on how to run a business that you don't think it would work but that you really thank him for being your friend.My experience is that for a partnership to work all parties must draw up a piece of paper that specifies what to do under every bad circumstance that could happen. If they can't face that, you know the old "oh that'll never happen" routine, then they don't really have a meeting of the minds and the partnership usually ends in disaster with bad feelings.
*fredb... exactly... if you can't write the partnership agreement on a piece of paper , then it probably will not survive the first crisis..
*Hey guys thanks for the replies. We don't have any agreements on paper. This is just a mutual thing that we decided to do back in August. Nothing is legal. I haven't really come right out and told him in so many words that there is not going to be a business partnership, but I think he already knows that. When he talks about business he says when you get "YOUR" business going and "YOU WILL" have to decide. I know he will still want to do jobs together and I'll be glad to have him help out. He's a pretty good plumber and he likes to paint (I hate painting).