Being a business partner

Hints, ideas and questions about finding investors for your small business

Isabella from The Southwest -

My sister in law has asked me if I'd like to go into business with her. She does catering on the side and she caters a lot of events. It has gotten to be too much for her and wanted to know if I'd like to work with her and divide everything in half. Of course, this means that I would be working a lot of weekends, because that is when all the events take place. I see the pros and cons of it but am a little bit scared to take this on. I told her I'd think about it and let her know after the first of the year. Yikes!!

Comment #1 melena from new orleans -

Would you benefit a lot from doing this? I assume that you guys would split the profits in half right? I guess it all comes down to how much you need an extra job and if you could handle working on the weekends? Good luck with making your decision!

Comment #2 Cinnamon from The Kitchen -

Being a business partner is a great idea. But, in many businesses a partner has to make an investment to start out. If your only investment is your time then that is great. I hate working weekends, but if that's when business is the strongest then that is a must. I would do it if I were you. Really you don't have very much to lose. Plus, two heads are better then one. You may expand into a larger business where the two of you could sit back and reap the rewards.

Comment #3 rjbond from in the middle of nowhere -

If you think that you and your SIL can work together and make it beneficial then I don't see why not. I opted not to have a partner. I tried it with a friend of mine and ended up doing all the work. In the end I bought him out and folded the initial business. Now I am more successful on my own. I think it can work if both parties are willing to put in the same amount of effort and you have a common goal.

Comment #4 RiverQueen from Universal Studios -

Sure it can work out if you are both the same type of people. I mean do you both work at about the same pace and do you think alike. Cause if you don't then resentment can rear its ugly head from one or the other of you because one isn't holding up their end (or so it seems).

Also how much is she making at this point. Is it going to be profitable to both of you by splitting it in half. If not then she might start resenting having to get less than she was getting before.

Also the main thing is can you two communicate well. Do you talk things over when they are bothering each of you? Cause if you don't then that could be the partnership breaker.

These are more important than just thinking about giving up weekends. If you enjoy the work then you won't mind the timing of working.

Comment #5 candice lobo (202.75.193.198) -

hi this is candice i would like to start a grooming schools for models flt attendents and corporates in mumbai india i would like a partner for the same.

Comment #6 MOHAMMED ALI (82.22.192.94) -

I am well tallented caterer with excenting ideas and experirnce to run catering business, however i am looking for an investor who would not waist this money as i am very sure of the success. for more information please contact me on 07857266769

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