Partnering in running Pathology Laboratory

[LabGuy]

Hi Friends,

I have been offered to become partner in laboratory. Now situation is little complex as existing pathology laboratory have 4 or 5 partners, but no one knows or possibly wants to run the laboratory. The lab. is losing money (is in red). I want to be 51% owner of the lab. and will be working full time. Since they will be sleeping partners with the investment already done, what should be fair split of the profit. And what will be fair amount of money i should invest (or i should not as i am providing my services full time). Just keep in mind that i have technical and professional expertese and i will take care of all regulatory and inspection issues of the lab. On top of that i will bring quite a bit of business through my contacts.

[huggytree]

why not just take your money and talent and start your own business????

partnerships typically fail

if you go into this keep that in mind...your odds of being successful are especially grim.......

you need to negotiate with your partners for a fair %..........how will you feel when you are doing all the work and equally splitting the profits with those that dont do as much as you ?

id save my money.... take over the lab, but just be an employee with a strong bonus if you turn things around.....this way you have nothing to loose

[LabGuy]

That is great idea to start your own business since i have the talent and capability to run the business. But I will require lot of capital to start the business from the scratch and than have to build the customer base. In this scenario, i will be majority partner without significant capital upfront and will have some customer base, where i can bring in my contacts business and push it from red to green. Ya, that will require lot of hard work and networking. But once i turn around this thing, i will be the majority shareholder. The other partners also have to bring in more business to make this venture successful.

I would like to be employee, that is the best option but they don't have money to pay as they are already in loss.

My question is same, would my services alone are worth 51% share of the company or you guys think that i should invest money in addition to services. This lab. potential is more in the future, if i start doing some other tests, not performed right now, which will require my services or someone with my qualifications and will bring in money.

My benefit in all this is that it is running business although in LOSS.

[LabGuy]

Other party is now interested in selling there shares, may be 3 partners, which will get me around 60% share. What is best way to know the worth of business. Can anyone tell me any company or source, which could help me to come with a number, how much business is worth of and what things should i request initially to assess the value of that business.

Guys i need your help. I don't have lot of money but i see this as an opportunity to turn around the business with my professional education ad capabilities.

Thanks for all of you in advance.

[MyITGuy]

Since the business is operating in the negative, then I'd say its only worth the property and/or equipment it owns.

If 3 partners are selling for up to 60% of your share and you are considering buying them out...I would highly suggest you find a way to make up that other 40% and start your own business.
You've stated "The other partners also have to bring in more business to make this venture successful.", do you really want to depend on others to determine if your successful? Especially now when it appears that they have lost interest and are wanting to sell?