Ok, I will try and make it short. My husband has been running his own business for 2 years now. But, has had a finacial backer. Who is actually his boss. Now the BOSS wants to dump the bus. They say it is to much on them.
My husband is the only employee, and does all the work. All they have to do is bill and make sure the funds are there.
Would it be stupid of us to take it over ourselves?
Also, I am thinking that we could make more $$ if we did this.
Am I wrong? or right?
Any advice?
Let me add there is no over head except the truck payment and Ins.
Also Materials...
Stacie
2007-09-19 18:13:40 · 7 answers · asked by stacie m 4 in Business & Finance ➔ Small Business
I hear this all the time from people just like you who think they know all about the business they work in. There is a lot more to running a business than doing the front office work. In general, that is the easiest part of the business.
Has your husbands boss even offered him the business? If not, why would you think he would offer it you him? Has he trained your husband in all of the backoffice functions of the business?
You need to thnik really long and hard and decide if you have the skills to do both parts of this business. I can hear you now: How hard can it be run this business? It is ten times harder than you can imagine.
Take the advice of the other posters, find out why your boss wants out. This will tell you if it is a viable business.
Good Luck
2007-09-19 18:37:32 · answer #1 · answered by Dr. Wu 3 · 0⤊ 0⤋
Firstly, talk to an accountant, they can add up the numbers and tell you whether it is worth it.
Secondly, who owns the business depends on the setup of the business. Usually if one person puts in the money and the other person runs it then the business is setup to belong to both people. Unless your business partner cheated you then this would be the case.
Your business partner has 3 options to get out. 1. Get out and take his money with him 2. Sell his share of the business to a new person 3. Sell it to your husband.
If you don't need financial backing then just take over the business and run it yourself. If you do need backing, then talk to an accountant or bank manager about how to do this, maybe even sell shares to friends or other investors.
Good luck.
2007-09-19 18:22:38 · answer #2 · answered by flingebunt 7 · 0⤊ 0⤋
2 years running a business is enough time to evaluate whether to quit or continue the business. If you would help your husband in administration and marketing, it would be an additional value to the take over. Don’t forget that your husband’s boss earnings will be yours.
2007-09-20 06:09:51 · answer #3 · answered by Anonymous · 0⤊ 0⤋
We are moving into an information age and one of the best ways to create a business is to provide information on the internet.
2016-05-19 00:25:08 · answer #4 · answered by Anonymous · 0⤊ 0⤋
no feelings involved , get the sums right
Revenue - expense = Profit
If the profit is acceptable and more than what you can get at the job then it quite ok to proceed.
the danger is here is the credit risk - does the client pay the bills on time
2007-09-19 19:23:16 · answer #5 · answered by bm warrior 1 · 0⤊ 0⤋
if it was so easy, and the business was making money idk why is boss would wanna get out of the business. I think their is a downside somewhere that you and your husband aren't seeing.
2007-09-19 18:23:29 · answer #6 · answered by Anonymous · 0⤊ 0⤋
well from what you just wrote I dont even see a question.. seems you have everything in order already so why not take it over
2007-09-19 18:18:05 · answer #7 · answered by Anonymous · 0⤊ 0⤋