steppinthrax
12-04-2017, 12:47 AM
So I've been doing business for a client for the past 6 mos now. We've had a good working relationship when he was my boss in a previous life. He has a company, I have a company, primarily much of my work has been with him. We are both one or two men shops, however he's more experienced and has more resources. He is planning on taking more work since being awarded another gov contract, however he wants to merge with another (bigger) company.
He's mentioned to me before about partnering with him. So recently he indicated that he might be merging with another company soon and that he wants to make sure our best interest remain intact. He was wondering on me becoming a partner within his company. He left the conversation kind of open and I honestly didn't really know much about negotiating or asking for anything around this.
I'm thinking that getting into a business partner agreement with him would require me to leave my personal business and be committed to his company. I would draw a salary etc... What is the usual income of a business partner for a small company? I feel I can make much more simply providing him more services, hiring more employees. I mentioned to him that my company qualifies for 8(a) and we can go after contracts together, I can use my 8(a) to gain specific type of contracts that will help him etc... I just feel going from a business owner to a business partner is a downgrade!!!
He's mentioned to me before about partnering with him. So recently he indicated that he might be merging with another company soon and that he wants to make sure our best interest remain intact. He was wondering on me becoming a partner within his company. He left the conversation kind of open and I honestly didn't really know much about negotiating or asking for anything around this.
I'm thinking that getting into a business partner agreement with him would require me to leave my personal business and be committed to his company. I would draw a salary etc... What is the usual income of a business partner for a small company? I feel I can make much more simply providing him more services, hiring more employees. I mentioned to him that my company qualifies for 8(a) and we can go after contracts together, I can use my 8(a) to gain specific type of contracts that will help him etc... I just feel going from a business owner to a business partner is a downgrade!!!