From: Pipermynt@aol.com
Date: Tue, 14 Nov 2000 16:40:32 EST
Subject: Re: partnership?
To: TNapp77@aol.com, balloondeco@balloonhq.com

Hi Justina,
This is a tough question and you'll get lots of responses good and bad. But 
I'll share my experience of having a partner.
My friend and I started a cleaning company which lasted for 4 years.  We did 
get on each other nerves, had disagreements, but we balanced each other out 
very well to have this partnership last longer than others think it would.  
We failed to put in writing what would happen if one of us moved, thinking we 
would never move. Well, I did end up moving out of state 4 years later and it 
ruined our 7 year friendship.  She was told by her brother who is an 
accountant that our business had no "value" because we didn't have any 
assets.  The business accountant told me that it did have value if someone is 
willing to pay for it.  She wouldn't buy me out.  So we split the business 
and I sold my half.  Lost a best friend over $1,500.

My advice..make sure you get everything in writing if anything were to 
happen!  What if you are injured and can't work, do you still get paid for 
stuff she does?  Visa versa.  What if you move, does she buy you out or can 
you sell your half to someone else if she isn't able to buy you out?  Who 
does the bookkeeping?  If one does, make sure you meet once a week or month 
to go over and understand what is going in and going out.   Who does the 
ordering?  Who decides what to order?  How will vacations work?  Do you get 
paid by the hour..if so..who gets what?  Who does the bids of work?  
Put it all in writing and call it an Understanding Agreement. You understand 
what she does and she understands what you do.  Even though now you may say, 
"Oh I"ll never do this or that"  plan for it anyhow!  You never know what the 
future brings!

The pros?  You always have someone to work with and can share the 
responsibilities of the business.  You can share the duties of dealing with 
difficult people or the praise that someone gives you for a job well done. 
You can share the marketing and hitting the pavement to get new jobs or 
clients.  You have a support system-buddy. 
Always keep the line of communications open.
Good luck! Think long and hard before offering this to a friend.  It's not 
worth losing a friendship over. Especially if this friend is a good one.
Gayle Rood
Helium Works
Kokomo IN