Hi! I need some advice on a business arrangement I am involved in. But I want to be fair to all sides (myself included!)
My long-term boyfriend and I have a classic car restoration business. He owns the garage (very large, actually too big for my needs), pays the taxes, insurance and electric. He also provides most of the money to buy cars and parts, although I contribute what I can. I do all the work on the cars: mechanical, interior and paint and body. I sell the car, and from the sale, we both get back any money invested, then split the net profit 50/50. It wasn't a big deal in the past because we were doing lower dollar cars. Now we are doing higher dollar cars, and since I am trying to become more independent financially (been unemployed for over a year, where he has several successful businesses already), and since I do all the work, I am starting to feel like I should ask for a larger percentage.
I have done some research and I could rent a garage on my own for $500 a month plus utilities, and could keep all the profit for myself and reinvest, if I can save enough to be able to afford to buy cars and parts myself.
I would like advice and opinions on this.