bikebuddha
02-14-12, 06:32 AM
Because it's not fun even when you're trying to do it amicably.
Foo - Dissolving a business partnership must be like getting a divorce
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ahsposo
02-14-12, 06:54 AM
Oh yes it is! And the collateral damage can be awful.
I was a manufacturers rep and one of the businesses I called on turned out to be a 50/50 handshake deal partnership.
It was a great little business with a lot of potential. We started growing my line of business at about 300% a year. Phenomenal! Went from about $30,000 to $1.5 million in 3 years. My quota was adjusted accordingly.
Then the partners decided they had different visions for the future and split up. Long story short I was faced with having to start all over with the primary sales location. That partner had been silent and non-existent as far as my company and my credit managers were concerned. The partner with the dealership and credit history is now starting over in new locations that lacked a customer base it seemed.
Total DISASTER for me.
I was a manufacturers rep and one of the businesses I called on turned out to be a 50/50 handshake deal partnership.
It was a great little business with a lot of potential. We started growing my line of business at about 300% a year. Phenomenal! Went from about $30,000 to $1.5 million in 3 years. My quota was adjusted accordingly.
Then the partners decided they had different visions for the future and split up. Long story short I was faced with having to start all over with the primary sales location. That partner had been silent and non-existent as far as my company and my credit managers were concerned. The partner with the dealership and credit history is now starting over in new locations that lacked a customer base it seemed.
Total DISASTER for me.