Im in the process of discussing a partnership with a friend. We are not best friends, so its not like going in business with family. We have similar interests in Solar, and are bother Journeyman electricians. I think we both bring a lot to the table, but both with strong points that compliment each
others. We plan on writing up a very professional partnership, and having a lawyer look at it. We have not figured out a percentage, but have discussed 50/50, good or bad idea?
We want to format the company to where if either of us is in the field, we get paid a fair wage, but i will probably be in the field more, and him running the paper side a little more. But both staying involved in both. We will also establish the percentage that goes back into the company, and then share profit. He will probably get the license, being he is a little older, (im 23, and he is 33), but we will put it under the corporations name. Im looking for tips on what mistakes you have made with partners.
We both are very motivated, and realize its hard with the economy now, but we other jobs, and will do this slowly. any advice in general will help, do's and donts, "dont forget this"... you know?
others. We plan on writing up a very professional partnership, and having a lawyer look at it. We have not figured out a percentage, but have discussed 50/50, good or bad idea?
We want to format the company to where if either of us is in the field, we get paid a fair wage, but i will probably be in the field more, and him running the paper side a little more. But both staying involved in both. We will also establish the percentage that goes back into the company, and then share profit. He will probably get the license, being he is a little older, (im 23, and he is 33), but we will put it under the corporations name. Im looking for tips on what mistakes you have made with partners.
We both are very motivated, and realize its hard with the economy now, but we other jobs, and will do this slowly. any advice in general will help, do's and donts, "dont forget this"... you know?