70/30 split business questions.

[jonnyblond]

My father just recently purchased a business and decided to do a 70/30 split with another guy. The guy doesn't know that my dad intends on signing over to me his 70 percent share in a few years if this venture becomes successful.

My dad employed me to learn from the guy that has the 30% ownership and another worker that the other owner knows because my dad has another business to run. After working with these guys, I find they are lazy or they are always saying that they have to leave the premise a lot of times to get this or that and most times don't return with anything. plus these guys like to talk.

I have worked with owners sons throughout my work career and absolutely hated it cause they were lazy or showed up late or just took all the credit for work they never did. I always said if I ever was in the same position I wouldn't be that guy and so far I have been doing most of the cleaning and work to get the place up and running(even work through breaks).

Things are odd though and I can't help thinking that something is up. Last week while raking up the old leafs on the site. I put the rake up against the garbage bin, when I was done and went to do something else I later got called over to the 30% partner to hear him say "not trying to sound like i'm picking on you but a customer could step on this rake and we could get in trouble." The funny thing unless that rake could jump a distance and lay on the ground, I would say he was looking to be a prick for no know reason. He put the rake on the ground and that's a fact.

I find the 30% guy always has me doing jobs away from him(when he actually does work) and only calls me over when he has something extremely heavy. I get the feeling he doesn't want me around. A lot of times if he does talk to me, it's about if my dad ever gave me his percentage to run the business would i be interested and i just told him that first, i want the place to be a success and i take things day by day(even though i know it's coming to me but my dad asked me not to say anything). I told him if it comes to me, then it comes to me and if it doesn't then at least i will gain experience and a trade from it.

But he just doesn't give up. he asked me how many people are in my family and i told him i have 4 other brothers and it could go to them. He even phoned up my dad and asked if he ever didn't want to do it anymore what would he be doing with his share and my dad said he would like to keep it in the family.

The guy doesn't have the capital. My dad was just being nice and trying to help out a guy that worked for him before.

I sometimes think that after working with bosses and owners sons, they have an attitude a lot of times is because they have to. I find being nice and doing everything asked of me feels like i'm being taking for granted.

My sixth sense has told me to document all the work i have been doing(pictures) because I have this feeling they are going to team up on me and say i'm not catching on to the work once it gets busy, just to get rid of me. I contacted my dad on this and he said it doesn't matter how long it takes for me to learn because he's paying me to learn and it's not coming out of the company so it's no loss to them.

How would you guys deal with this situation. I'm trying to be a good guy but something tells me i have to start being a prick soon.

Any advice?

 

[Stud]

Real quick, you may want to have another look at that partnership agreement. A common inclusion in the contract is a right of first refusal clause. Basically it states that before any shareholder can sell his shares, he must first offer to the current shareholders. They have the first right of refusal to purchase any available shares in the company. If your dad makes the guy an over inflated offer to the current partner, he says no, then he "sells" to you for a much lower price or a payment plan that wasn't offered to the current partner, the current partner could sue you and get the shares.

Partnerships rarely work. One party will inevitably feel that they are doing more of the work or are more valuable than the other. I am in one now and while most of the time it is good, the typical feelings of being the hardest worker are always there.

Why don't you or your dad just buy this guy out? If this guy is as worthless as you claim, another option would be to sell to him on a buy-out payment plan, then open a competing shop. He would literally be paying his competition to compete against him.

 

[metoo]

I"d bail on the whole thing 'daddy does for me". It normally ruins the kid, knowing that he has something coming.

 

[BigJimbo]

I"d bail on the whole thing 'daddy does for me". It normally ruins the kid, knowing that he has something coming.

Don't hate! Everything I have comes from a mean old man who I called "Daddy".

You think you are really going to make it on your own? :crackup: Sure, you are. If you believe that you probably also believe that soldiers protect your right to go to Starbucks. God knows there are no Starbucks in Russia or Lebanon. Uh, well maybe a few...But they suck...Uh, well maybe they are cleaner and nicer than any in America, but they are crowded. Yeah, that is it.

http://v1.cache5.c.bigcache.googlea...hotos/original/1013405.jpg?redirect_counter=2
F---. The evil ones get better Starbucks than New Yorkers do. What up wit dat?

 

[Alle_Gory]

Don't hate! Everything I have comes from a mean old man who I called "Daddy".

You think you are really going to make it on your own? :crackup: Sure, you are. If you believe that you probably also believe that soldiers protect your right to go to Starbucks. God knows there are no Starbucks in Russia or Lebanon. Uh, well maybe a few...But they suck...Uh, well maybe they are cleaner and nicer than any in America, but they are crowded. Yeah, that is it.

http://v1.cache5.c.bigcache.googlea...hotos/original/1013405.jpg?redirect_counter=2
F---. The evil ones get better Starbucks than New Yorkers do. What up wit dat?

What the fvck are you talking about.

 

[Bible_Belt]

Real quick, you may want to have another look at that partnership agreement.

Yes. Read the agreement. It governs everything. Look for the buy-out provisions to get rid of the 30% partner.

 

[Warrior74]

Well, you're doing the right thing. Give this guy nothing. Play it close to the vest. If it's going the down the way you're presenting it, make sure you and your dad are clear, and make sure you know your legalities and if this guy has any questions about your fathers business ask tell him "I'm not sure, want me to ask my Dad for you?" to shut him up.

*edit* This guy isn't doing you any favors. Don't do any for him by giving him info. Tell him to direct any questions about the business to your father. Because they way you make it out, he sounds like a scheming little kunt. You don't need this guy to like you, and at 30% ownership, it's really the other way around. He needs you to like him to stay in good graces.

 

[Alle_Gory]

How would you guys deal with this situation. I'm trying to be a good guy but something tells me i have to start being a prick soon.

Standing up for yourself is NOT being a prick, it's called being strong. When someone asks you a question do you have to answer?

The correct answer is NO. People dig for information to use against you, you are not required to say anything. He's not a friend, he's not your partner, you owe him nothing yet you continue to speak. Why do you try and help him? He's not a very good man as you say, yet you aid him. Who's the real bad guy here?

I say it's you. You know better but you help bad people anyway. You should be ashamed. You're worried about being a "prick" but by being "nice" to people like this low life you already are one.

 

[jonnyblond]

I'm aiding this guy and that's considered being a bad guy. To me I considered being nice to people a good thing due to the fact I may have to work with this individual for a long time. I've had co-worker's in the past that were rude and annoying and dealt with it swiftly. but most jobs in the past had nothing to do with knowing that i may be running this place in a few years.

Once i usually learned a job in the past, the pricks of the work place could say nothing to you cause i was there to do my job and i avoided them, hence making things enjoyable. But this is different due to the fact that this person wants this place cause it is a goldmine waiting to happen and eliminating me would aid in his objective.

If i was coming into this job with expertise in this field then i probably would be more confident but unfortunately i don't. I have to learn from someone that has ulterior motives.

I am a master at reading body language and all signs point to dislike on their behalf and i thought maybe if they see that my work ethic would prove to be an asset, they would be more open but unfortunately it's not going that way. That's why it's hard to remain easy going. it's not getting me anywhere.

I guess this new learning experience is one of the downsides to maybe running the business someday. It's odd how if the owner's son is lazy, then co-workers complain and if they work hard it doesn't make a difference either. i'm learning why owner's and bosses have the attitudes they have.

respect is a hard thing to achieve. I'm finding out through experience that enemies respect you more than friends and thats a sad thing.

 

[Alle_Gory]

I'm aiding this guy and that's considered being a bad guy.

Correct. When you help bad people do bad, does that make you a good person? No. Hell no. It makes you one of them. "But I was just doing my job and being nice" is not a valid excuse.

To me I considered being nice to people a good thing due to the fact I may have to work with this individual for a long time. I've had co-worker's in the past that were rude and annoying and dealt with it swiftly. but most jobs in the past had nothing to do with knowing that i may be running this place in a few years.

You can simply be super duper friendly yet say completely nothing. Have you ever dealt with a salesman recently? You think he gives a damn about you? No, but he treats you like you are the most special person in the world and does nothing for you. It's all about attitude.

I'm finding out through experience that enemies respect you more than friends and thats a sad thing.

Sounds like you have sh*tty friends.