Forums: Discussions for entrepreneurs and small business.

I would like to open a quilting/fabric store in my town. I have extensive quilting knowledge and experience, but limited money. An acquaintance also has considered opening a shop, however she is in her late 60s, has no business experience, and has realized she probably would not want to do the day-to-day work involved. However, she does have the finances necessary for startup.

While I`m confident in my ability to take care of the daily running of the business, I don`t have much knowledge of financing or various types of partnerships. Is there some way the other woman and I can create a partnership that would be fair to both of us?

Contact Patrick Jaikaran at 817.478.4470.

He has helped many people including myself who had the same dilema.

Hope this helps.

You should study how incorporating can help you with stock classes. You friend can buy shares in the company and have an equity position with no voting rights with the right type of stock issued. Talk with a lawyer about incorporatating and get some advice about your situation from a professional. 

In addition to incorporating, which can be costly and administratively time-consuming, forming a limited partnership with your "silent partner" may be another good option.  

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