Forums: Discussions for entrepreneurs and small business.

Help!!  We purchased the business 7 months ago all with funds from the 3rd business owner.  My spouse and I work here 5 days a week and he works one...but we all get equally paid....which I feel is WRONG!  I am now going to try and get a job as is he, leaving my spouse to run the store....and yet he still wants equal pay!  He may not even get a job now that I am gettng one and he may now work in the store!!  By the way, he has no clue what he is doing and seriously lacks good customer service skills.

What can we do??  Stand up to him and tell him how it is???

When you bought the business did you sign some sort of a partnership agreement where you identified ownership and required roles?

You should talk to him regarding his input in the company. Let him know that if he is to be paid equally, he needs to put in the same amount of effort.

Depending on what kind of business structure you have (Partnership, LLC, etc.), you could talk to an attorney and see what kind of legal rights you have, and possibly be able to buy him out.

I must agree that the first stop should be your partnership agreement. No agreement? Then now is the time to sit down as partners and work through the issues you have and put the solutions into writing.

Depending on where you are, the value of the business, and how contentious the issues become, you may need the assistance of a competent business attorney.

Best regards,

Molly Donaldson

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Start Here. Go Far. LaunchX

Have a dialogue with everyone involved and set up the guidelines of your partnership.  Talk about everyone's expectations and what each one can commit to the business. Also draw up the areas of responsibilities.

Having that dialogue would be good to clear up the air.

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Kate

MedifastHealth.org

I'm affraid I have to agree with an earlier post.  What stipulations did you put in the original agreement you had with him?  This is your starting point for any future discussions with your partner.  If you don't have a written agreement, you all need to sit down with an attorney and draft an agreement.

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The older we get, the more excuses we make for not chasing after our dreams. But truth is, goals are attainable at any age.