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Scott Carlberg |
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#1
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Porsche MOTORSPORTS ![]() ![]() ![]() Group: Members Posts: 1,595 Joined: 17-April 03 From: Modesto, Ca Member No.: 580 ![]() |
I'd really like to get your opinion on the situation I'm currently going thru.
Here are the details: Matt & Scott were going to start a new business out at the local mall. Matt has some experience with this type/location of business. This new business is/was Matt's idea, although it was Scotts persistence & encourgement that almost got it going. Matt & Scott were going to split the costs 50-50 to get the business started. Currently, Matt has a full-time job, 8-5 Mon-Fri, at which he will become 1/2 owner of in Jan '05, having agreed & signed the paperwork with the one partner of the two current owners who is retiring. Currently, Scott is not working and lives just 5 miles away from where the business would be. Although Matt works just 5 miles away from where the business would be, he lives, with his fiance, about 45 miles away from the business location. Matt has now stated a couple of times that because of his job and where he lives, he does not see himself spending much time out at the mall with the business. Maybe one-3hr closing shift a week, if that. The mall is open 72hrs a week, or 288hrs for a 4-week time period. Figuring a PT person works 25/week, 100 hrs in the month, Scott would then work the remaining hours, 160-188hrs/month. Matt wants to distribute the money in the following way: - 1/3rd to pay the bills; - 1/3rd to Matt & - 1/3rd to Scott However, after putting some numbers down on paper, Scott does NOT think that's a fair deal for him. For example, IF the gross was $10,000 for the month: $3300 - bills (33%) $3350 would go to Matt - for being 1/2 owner AND having worked 3-12hrs for the month; $3350 would also go to Scott - for being 1/2 owner AND having worked 160-180hrs for the month. Scott has suggested a lower Base Pay, and then an agreed upon Hourly amount paid per the number of hours worked. My question, simply is: WHAT DO YOU THINK? Is one scenario more fair than the other? Why, or why not? >>> IF you've gotten this far down on this thread, THANK YOU, your thoughts & opinion are very mich appreciated, as I realize this situation REAlly only matters to one person on this bbb! (IMG:style_emoticons/default/wavey.gif) |
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Scott Carlberg |
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#2
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Porsche MOTORSPORTS ![]() ![]() ![]() Group: Members Posts: 1,595 Joined: 17-April 03 From: Modesto, Ca Member No.: 580 ![]() |
Kellzey wrote:
"What if bills total 80% the first two months. Does Matt still want 1/3 of revenue... and what about Scott?" ..If I implied that either Scott or Matt wanted 1/3 of the revenue, I didn't spell out my words correctly. The split is AFTER the bills would be paid. CAN SOMEONE TELL ME HOW TO DO A MULTIPLE QUOTE THING? tat2dphreak wrote: " the 50% split should be of the profits... after both Scott and Matt have been paid a fair hourly rate... using your example: say both Matt and Scott get 15$/hour (an agreed upon rate) 10,000 revenue, -3300 bills(fixed costs including paying the PT worker) -15*160(rate*hours) Scott = 2400 -15*15 (rate*hours) Matt = 225 =4075 2037.5 to each of the parties involved in the business..." ..Right on (IMG:style_emoticons/default/agree.gif) whole-heartedly That seems fair to Scott, and is EXACTLY one of the five scenario's Scott wrote up and gave to Matt. Kellzey (again) wrote: "Let me play devil's advocate Again... it comes down to ownership and creation of the idea. Whose idea? Matt's. Creation of the idea has a value. Would Matt & Scott even be in this position, had Matt ever even thought of it? Now the flip-side Sweat equity has tremendous value. You can have all the ideas you want, but if you don't get off your ass and do something with it, it's worthless. Here's another idea... since Matt won't work as much , then Matt can exchange $$$ for his percentage. (i.e., he pays for more/most of the up-front expense) in exchange for not having to work as much." ..those are both excellent points, thank you. richardL wrote: Always identify the true cost of doing business - if someone has to run the business by being there, thats a cost, its NOT part of the profit to be shared out equally. ..thanks Richard, that is a great point about someone running the business as being a Cost. However, I honestly think its doomed under the current arrangement before you even get going. ..yeah it's weird, the business hasn't even started, and doesn't look like it ever will now, and the friendship between Matt & Scott already feels strained. and last but not least, DNHunt wrote: "Business deals ruin friendships, so you can probably write that off." ..I'm sure neither Matt nor Scott want THAT! Really.... CAN SOMEONE TELL ME HOW TO DO THE MULTIPLE QUOTE THING? just keep editing over & over? (IMG:style_emoticons/default/confused24.gif) |
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