business partners
 

[rant]
Man I don't know where to start, I got two business partners (man and wife)that have turned out to be certified lunitics. They are convienced that everyone (including me) is out to get them. We have two locations a shop and a sales office, I run the shop and they run the office. We also have a couple of independent dealers. They insist that the dealers never call me with a question. And when they do (because they have to know and I'm the only one that can them) , they'll accuse Dealer of tring to get me to do work behind there back. To my face everything is a-ok, but when i'm gonefromthe shop he will show up count product to try to catch me (i quess thats what he's doing) He doesn't think I know, But what he does'nt realize is everyone he does this to calls and tells me.

This is a good business, its doubled in the 3 yrs we've been here, and i don't won't to loss it, but i don't know how much more i can take.

I don't know if i have any legal action, Slander maybe, but if i do that it will be over.

what do you guys think I can do?

Your best bet would be, if you wish to continue, find some other form of financial backing, and buy your partners out at the current market value. Do not try to beat them down, just figure out what its worth, cut a check, and move on.
This may sound a little odd, but if you truly want the business, you might as well have all of it, with either a private backer that remains hands off, or a bank. Either way, it is better than being partnered up in a situation such as yours.
If you choose this route, be sure that any agreements are well worded and properly documented.
There have been a number of occasions where I have been offered partnership in one form or another. I take the time and study my options before making a decision. Hence, I am still working on my own. I have seen partnerships work, but one thing I will advise against, is never enter into a business arrangement with a friend or friends. This is the fastest way to end the friendship.

Good Luck in future endeavours.

Partners = problems. Especially when youre partnered w/ a husband wife team. I've been through two divorces(thats how I see them.) in the last 10 years. After the first one I swore I would never partner up again. Well, that didnt happen. I sold my shares in the first business to my partners and ran with the money. Thats what made sence. With my second business, which I am in currently in I bought my partner out. And I will be paying him a substantial amount of money for another 18 months, but thats what made sence this time around. You should evaluate your business, your relationship with your partners and decide whats best for you. Is the business going to continue to grow?, where do you think your relationship with your partners is going to go. Do you think it will get worse? Remember they are married, they are partners first..... before you. In my opinion you should always look at the worse case senerio in partnerships. Do you have a partership agreement? I hope so. It might be a good time to consult an attorney and see what kind of advise he can give you. Regardless, I believe that when things start going south in a business, I want the upper hand. So if it gets to a point when its that bad, I would want to be the one to say, its time for a buy out rather than my partners coming to me and saying it. Its like a divorce, Id rather serve someone than be served.

Good Luck
-Tom

Another thing to consider is the stigma that hangs with the business from what they where doing or not doing ;) . Sometimes it can be overcome once you are on your own and sometimes the reputation/bulldodo they established can hang on you like a bad relationship.
If they are watching you and accusing you, theres a good chance that they took a hit in the trust department because they cannot be trusted or they got burnt before you came along.
I learned that some folks will never admit their lack of skill, integrity or ethics and will always blame, fingerpoint and lie. An excuse or a deflection of whats needing to be dealt with is commonplace with folks like that. Having dealers tell you this is good to a point but it still does not do the business any good.


Scotty

I guess that is why I won't partner up with anyone! it really bites that you have partners like that . Some of them are like car salesmen,haha. some of them with actually give you some of the truth and other are really worried about getting that commission and could care less.

I would have a face to face with them and discuss your concerns openly and calmly, you just might end up on better footing than before. Of course you may also learn that it is time to make a change....

Either way it is best to get it out in the open and deal with it BEFORE it becomes an issue that can not be rectified on a friendly basis.

Document everything. Everything.

^ Agreed. Write down EVRYTHING, it may not change anything, but in the end, if it all goes really bad, good documentation can save you.

Your partners are simply looking for an excuse to get RID OF YOU!

Don't wait a month more. You are just building up THEIR business. If they won't sell you the business, quit and start your own business doing the exact same thing. You don't need them and obviously they don't trust you, and they NEVER will. Get all the information you can on the customers, vendor files, order history, supplies, products, and make the jump on your own. Drive them out of business by beating them in service, product selection, and inventory. Send a letter to the IRS (State & Fed) saying they are not paying sales taxes and income withholding taxes, ect. They will be audited and cost them months in their accountants office while you are out getting their business AND their employees.

Partnerships are like crutches. Everyone wants a partner (becuase they don't think they can make it on their own) until they realize they don't need them anymore. Then they want to throw them away.

Business partnerships NEVER work long term. They are a short term solution for lack of money or expertise in an area of business. NEVER EVER take on a business partner.

While I agree with the rest of what you said, the part about contacting the tax agencies with that information is uncalled for unless true. What goes around comes around.

I agree if they could they would, but they can't. They have no idea where to start to do what I do. Used car salesman describes them to a tee. Good salemen, beyond that clueless.
I am a 3rd gen tradesman in this field taught by my grandfather and this has helped build the rep of this company. I was going into business on my own (agianst them, they were dealers for an out-of-town company) when they offered this partnership to me. on hindsight, I think their plan was to get me to set this buisness up and running, train their son who was going to help me then get rid of me, the son is a worthless p.o.s. alky that decided drinking is better then working and now they are stuck with me, and they resent it.