Be brutally honest with him about what your expectations are, and what
you think his return might (or might not) be, and map out exit
strategies for both of you (just him, just you, or total bail out).
bp
<part15sbs{at}gmail{dot}com>
On 3/17/2022 10:44 AM, Steve Jones wrote:
So im buying out a friends business. Not big, small drill and such.
Enough that a guy can get started and build upward. I just am afraid
of heights and want to get lower and build something with my kid.
I have an interested party that made me an offer, it will get me a
second truck and mini excavator plus a pretty substantial recurring
investment, about 80 percent of what im paying.
He wants to know what i think is a fair percent for the offe. But i
cant see any way that has a return for him with me retaining any
ownership.
Im projecting best case around 220k revenue in the startup year, and
fuel is laying claim to a pretty big chunk of that.
This is a guy who tried to recruit me last year, and hes made clear
hes looking to invest in a person. While that is roses, im not sure
how it scales to a return for him.
I can see buying into an existing outfit, but this just seems to have
no way where numbers make sense.
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