Powerwashing business questions

[DeckDoctor]

[help]Hi everybody nice to see old faces around still.I am getting ready to go in business with another powerwasher.He does not do decks or houses just vehicles..My question to you all is when we go to talk to a lawyer to get this in motion what questions should I be asking the lawyer and him about .Just want to make sure I cover everything.Big step to take...[help]I would really appreciate all the help I can get from the brothers and sisters of the field..Thank You !!!!!!!

 

[Douglas Hicks]

I asked my attorny a question when I was thinking about separting my hood cleaning from the rest of my business. I asked if he knew of any partnership that acually worked. He thought for a minute and said he knew of one partnership that worked. Two brothers started their business at age 16, and they were successful and enjoyed working together.

I have tried it, and called the deal off. My prospective partner & I were way far apart on our basic ethics.

Befroe you become partners, prepare for the divorce.

 

[Bridget]

Why are you considering a partnership? What significant benefits are you hoping to realize? I suspect the responses you are going to get will not be what you want to hear, and for good reason, successful partnerships are a rarity – it’s much more than just a notion.

Have you known this person long? Do you both run successful businesses or are you hoping the partnership will make you more successful?

Doug is absolutely right; your meeting with the attorney is to draft the divorce.

Make sure you consider all worst case scenarios and then decide if you can live with that.
And above all else pray about it and give it some time.

 

[Mark0012]

Check with your local state laws (consumer protection) agency on whats required then call lawyer who has experience in writing contracts for contractors in your state, and inquire about joint ownership clauses.

 

[Henry Bockman]

Don't Do It......

I've been in business for 20 years and I can't think of one partnership lasting more than a few years. Which by the way is just long enough to build up the company, buy lots of equipment and make some good money. When the partnership splits up both sides lose.

Why not just start your own company and refer work to each other? That way if things don't work out you don't lose out and you can always find someone else to refer work to.

 

[wklingensmith]

I have recently started a pressure washing company. I am doing it to pay myself through college. I have a fraternity brother that asked me about going into a parntership with him. I have known him about a year. He is a finance major and has been the accountant for the fraternity for two years. His dad owns an oil comapny and is having a sub division built. I feel it is a good idea to go into a pratnership because I just moved to this area and he knows alot of people. Does anyone have a any advice?

 

[Henry Bockman]

Same advice I gave before, don't do it.

Why not turn him into a commissioned sales person instead? Pay him a percentage of the jobs he refers you and maybe hire him on part time if you need help. Or better yet, get some other guys from your dorm to help. Most importantly though, learn the right way to do things and the right way to price them! Get insurance!

 

[Bryan C]

Unfortnately, I am in a partnership with my best friend of over 30 years. One way to destroy a friendship? Go into business together. These guys are right.

You are working for him or he is working for you. Simple as that. Guess which side I'm on?