Looking On Advise For My Future And The Takeover Of A Family Company...

Little

What up everyone, damn!! I thought this site was gone as i can't get it to go to the site at my house and for some reason i tried on my gf's today and bam here it is. I have been on in like a year.

Here is my situation. I am coming up in my uncle's mid-size commercial site construction company and this past year i've been really getting trained in becoming the next Superintendant and taking over my dads job (his bro owns company) when he retires in 3 years. Here is the deal which i plan on talking about with my uncle when we pick up again, right now we have ZERO work minus the huge job we are finishing up in North Bergen. My uncle has two sons, my cousins, that want nothing to do with this kind of business, frankly they want to live off daddy's money which is friggen awful, i hate that mindset. What do i do when my uncle wants to hang up the towel? Could i somehow take over the business reigns? I mean the only option my uncle will have is to sell off everything, which he basically owns everything he has from brand new dump trucks, machines, etc. Is that possible? I'm thinking no way as he would want to just unload everything. Could he sell off and downsize it for me to make it so that i could somehow afford this kind of venture? LOL i'm pretty sure this is all gonna sound crazy but just curious if anyone else has had this kinda of situation.

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Commercial Construction, Central Jersey

MALCO.New.York

You obviously can not afford a buy out, but you may be able to keep him as the owner and CEO, pay him an acceptable salary, and take over the day-to-day mechanics of running this Business. That is if you mentally and physically are up for the task.

Your first Order of Business is to learn Presentation Skills.

"Yo what up" is NOT the Salutation of a Well Honed Business Man.

Nothing being said to you in a personal fashion, just become the Leader you need to be and that begins with a persons PERCEPTION of you as a Leader.

In this present post, you are asking for Life Advice from other Professionals, not shootin-the-shiite will the Boys. Dress accordingly!

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Something to One may be Nothing to another!

Ultimate Wisdom---------
http://www.youtube.com/watch?v=OW-cnizLDEE

nitrox2595

I didn't see a "yo, what's up", but he is right. Maybe you could also team up with a competitor to tighten the market. Alot of people are doing that right now.

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Impact Demolition & Environmental Contracting
www.idecdemo.com

MALCO.New.York

I was posting from my Phone and did not re-read the post.

"What up everyone"...............

__________________
Something to One may be Nothing to another!

Ultimate Wisdom---------
http://www.youtube.com/watch?v=OW-cnizLDEE

Poolman

Listen to this adice, that's a great start.

Talk to your Uncle and start the communication lines. If there is an opportunity for you to take over the reigns at some point, he may have thoughts on this already; knowing your father is retiring and he would probably like to retire someday as well.

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Scott

Is this going to be expensive?
It's all relative.

Little

Awesome advice thanks. Out of almost every big construction company here in NJ that i know of personally, the sons of the company were raised in the work and have taken over or branched out. I can't believe my uncle wouldn't really get them involved with this early. Well only the future will tell.

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Commercial Construction, Central Jersey