Business Owners, Check In!

Willybeen

How many people on here are the owners? Partners?

How many people work for you?
How long of you been in business?

Those of you who are involved in partnerships, do you have Buy/Sell agreements in place should another partner pass away?

Willybeen

Really?!??!? I'm kind of surprised.

Meetre

sole prop for now. I'm talking with the lawyer about an S corp. I had a partner a few years back, but we had different ideas about where to take our company, and decided to go different ways. If you are in a partnership, you should have buy-out agreements, if not you are asking for trouble.

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Floordude

Partnerships rarely work for any length of time. One thinks the other is doing more of the work then the other and things start going downhill from there.

You better be prepared to be married to this person, and that includes anal sex every now and then, without a kiss, from your partner, and he thinks the same of you.

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WarnerConstInc.

Thats the funniest sh!t I have heard in a while!!!

silvertree

Split with my business partner a year and a half ago. Sold our building about 5 months ago. Basically getting it all going again. No problems unless you call losing money a problem. Its like being married, but without sex
or you can just say its like being married. Just filed 2007 taxes on the 15th, the last day of my extension. Getting a refund

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Vote for Pedro
Kitchen, bath, St Paul remodeling
Minneapolis Remodel Blog
203K Loan Consultant Minnesota

Snow Man

WHO ARE YOU UNCLE SAM ?

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BuiltByMAC

I'll be really impressed if that's you popping a one-handed endo.

Don't be too surprised that folks don't want to automatically jump into your thread and start spreading their business info out for all to see.

You're new here, hang out for a while, let us get to know you...

Mac

Aggie67

I have 2 partners. Never should have done that, and I would counsel anyone willing to listen to not have partners. I lacked the courage and fortitude to go it myself. If I had to do it over again, I'd start out small (me and 4-5 guys), no shop or office, keep overhead low, control growth at maybe additional 1-2 headcount a year. I know I could do it alone, and I've made every mistake there is and learned from it. We're 5 yrs into the partnership now. We all acknowledged on day 1 that it probably wouldn't last, but we said let's give it a go. No one had any illusions of this being long lasting. Now 1 partner wants out because he doesn't like dealing with employees, the other won't let him off the PG's (and I agree), and we're all suspicious of how much time we spend on the company. I'm kind of stuck, but not really. I opened a consulting biz 2 yrs ago. That could change overnight to construction if I wanted, and I'm getting to that point. Too much partnership BS, and we have a couple late payers that are stressing everyone out. Silly thing is we have work to keep 20 people busy every single day, and I keep quoting more. We are busy. If I wanted to, I could go it alone tomorrow (as long as I found a bank willing to work with me - which isn't guaranteed anymore) and start over solo with a little bit of work. I definitely have the work to go after, and a good crew.

rbsremodeling

Started this current biz i think 8 years ago with my girlfriend.

Best thing I ever did she handles the books, customer support, contracts, product selections,etc,

I handle estimates, scheduling and site supervision.

She gets it and we have very few problems. But it think it helps that are personalities are extremely compatible

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Willybeen

true story about me being new here. That is in fact me... That was my old 636.... one handed stoppies/endos all day. That bike is long gone, as are the days of being crazy on a motorcycle... (I have my days every once in a while, but I take it to a track now a days), and now I'm riding a 2006 zx-10r.

I know I'm new here, I'll make a good intro post one of these days.
Aug. 12, 2008 Mid-Ohio Thunder Alley.

Willybeen

BTW.. thanks alot for the good information in here. I appreciate the insight.

Mellison

Buisness Owner.
Any where from 3 to 9 employees.

gunman64

I'm an owner. Only two years old. I only have one employee. I could go for more but, I'd like to see how this winter goes. I'm a little afraid that things may get slow.
I worked for others for 20 years before I took my show solo.

cueball707

I'm an owner that still does alot of the work myself and I carry from 1-3 employees as needed.

GPCP

Owner -8 employees

yockremod

Owner plus 1-3 employees as needed. Sub out some work too. Worked for 12 years as carpenter before going out on my own.

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Jake Stevens

Owner with 12 employees. Some sub's as needed.

threaderman

Owner,1 licensed apprentice ,and I hire labor and subs as needed.

This business is 3 years young in Oklahoma ,and I plan on adding 2 more positions when practical and running it another 15-20 years then selling and retiring,God willing.

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Joe ---International Code Council Member

Your plumbing & gas specialist proudly serving Oklahoma City OK, Moore, Warr-acres, Norman, Midwest City, Edmond, Bethany, Forest Park

hatchet

President of company - S Corp. Including myself I run anywhere from 3-7 employees. Approx 3 years in business with current company. I was in a partnership about 11 years ago - big mistake. I'm glad I got out before we were really off the ground with it. One of those things with being younger - you don't think you can go it alone. Take the time to learn what you can so that you can go it alone - you'll be much happier.

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Rich
WIT Construction Co.
Superior MT Contractor