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Starting a small operation
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<blockquote data-quote="Angus Cowman" data-source="post: 609824" data-attributes="member: 8829"><p>Ok here is my 2 cents </p><p></p><p>Get evrything in writing and the most important document is a buy sell agreement </p><p>you think this is a small business but what happens down the road if this is a big business and one of you want out .I have been in several partnerships and they have all worked because we had written contracts </p><p></p><p>I feel the buy sell agreement is the most important because I started a bus with a partner we had an investment of $250k within 10yrs it was worth over 2.5 million then he had health issues and needed out so I bought him out as was stated in our agreement I pd him 10% dwn and pymnts over 10 yrs , without this agreement he could have forced me to sell out or sold to someone else and I wouldn't of had any say in it and who knows ifhe had sold to someone else if I would have wanted that person as a partner </p><p></p><p>So get EVERYTHING in writing and if the partnership works great if not then you may still have a friend</p></blockquote><p></p>
[QUOTE="Angus Cowman, post: 609824, member: 8829"] Ok here is my 2 cents Get evrything in writing and the most important document is a buy sell agreement you think this is a small business but what happens down the road if this is a big business and one of you want out .I have been in several partnerships and they have all worked because we had written contracts I feel the buy sell agreement is the most important because I started a bus with a partner we had an investment of $250k within 10yrs it was worth over 2.5 million then he had health issues and needed out so I bought him out as was stated in our agreement I pd him 10% dwn and pymnts over 10 yrs , without this agreement he could have forced me to sell out or sold to someone else and I wouldn't of had any say in it and who knows ifhe had sold to someone else if I would have wanted that person as a partner So get EVERYTHING in writing and if the partnership works great if not then you may still have a friend [/QUOTE]
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