I don't recommned partnerships because of spouse and kids issues.
Uncle Sam is your partner and does not help at all with anything.
If you and the other person work extremely, extremely, well together create rules of business to stick to and don't deviate from them to acommadate someone else. You always have to look out for "DEADBEATISM" from others. Especially friends and family; when there is $$$$$ involved.
I agree. I was in one with my daughter. Started out fine. I had my pre-determined responsibilities, she had hers. Split money 50/50. Well, more & more of her responsibilites came my way, DH was getting more and more angry at my increasing work, etc. After only a few months, she gave it up. BEST THING THAT COULD HAVE HAPPENED! Didn't have to confront her, etc.
NEVER, EVER form partnership with family.
I have a partnership with my daughter but we both do differet things I do the cake decorating and she does the decorated cookies and we keep our money seperate. If she needs help I'm there and if I need help shes there. Works for us.
I'm in partnership with my husband sometimes we drive each other nuts but generally it works pretty well. I wouldn't however ever go into partnership with anyone else though because I have seen other partnerships go bad.
The place one door up from us had 3 people share it a couple and another guy the couple decided to move away and left the other guy to run it. They were supposed to be doing admin & covering bills and expenses and he was doing the day to day running. He came to work one day to find the landlord had changed the locks and taken over the premises (rent hadn't been paid for a long time). Other partnerships have a case of one partner working more than the other, arguments over money, direction of the business etc, resentment and arguments can ensue. I think you really want to chose a partner carefully and have everything spelt out for it to work.
I worked with my mom & grandmother when mom had a shop. Then she sold it & I started doing cakes at home. If it was a wedding cake I would bake & make frosting ( I had the KA) & mom would decorate. We would cover the cost of supplies & the split the rest 50/50. If I got as small order I would do it, if the customer called mom for a small order then she would do it and we would just keep that money. Worked GREAT for us! Wish mom was still here to help! She passed over 8 years ago!
That was the BEST partnership besides my marriage of almost 24 years!
Quote by @%username% on %date%
%body%