Business partners?

Question

I own a small business that sells medical products. I met a client that said he would like to go into business with me. He says he was in the same business for four years and has money to invest into my business to expand. I am not racist at all, but he is Pakistani (although now a US citizen) and I am not sure why he would want to do this. It almost seems to good to be true. Should I trust him? He is over 80 years old-fyi.

Answer 1

My first reaction is hold your horses mate for 2 reasons.
Do you want or need to expand or is it the thought of the Golden Egg that has bee offered to you.
Please remember at the moment this is your own Company you live or Die on your own Decisions.THIS WILL all change if you have a Partner.
On your second point over here in the UK you wont find a harder working group of people then the Pakistanis if there is a shop open 24 hrs it will be one of there's. All i can say mate is they have a eye for a good business.
As always seek Professional Help and Advice before you even think about it.

Answer 2

I also own a small business. From my experiences and knowledge, business partnerships are always a bad idea. However, if you want to work with him, a business venture, together may be more beneficial. Business partnerships are usually business suicides, unless you are married to your business partner. Only then, can you rest a little easier.

I always tell people, when in doubt, do not do anything or avoid whatever you were considering doing. You doubt because you are sensing some red flags. Follow your intuition.

Answer 3

ask him what are his intentions of going into partnership? with you..

Maybe he is at the end of his life and would like to give back so to speak..

Just make sure they he is not trying to take advantage of you as he will probably not live alot longer to expand the business.