Would you consider this an opportunity?
By miacis3101
@miacis3101 (82)
United States
January 16, 2008 8:49pm CST
I moved to this small town hoping to open a business with the money that I had saved but I took too long getting it started and the money dried up. Since then, I have been unable to find gainful employment that could help me save up enough. My credit is not great either so getting a bank to give me a small business loan would be neigh impossible. However, I have recently run across another man in my area who has tried opening the same type of business I wanted to open. The problem with his attempt however, is that I can tell just at a glance that he has not put any thought into a business plan, he will only special order merchandise, and his on hand stock is almost nil. I do not want to see this fail even if I didn't start it. I have access to a professional business website and a hell of a lot of research. I am wondering if I might be able to talk this guy into a partnership without any initial capitol investment on my part. I can offer him all of my market research and help him build a functional business plan as well as get him on the web with a complete e-commerce website. Any advise?
2 people like this
5 responses
@byfaithonly (10698)
• United States
20 Jan 08
Wow - sounds like it could be a great opportunity for both of you. It certainly wouldn't hurt to talk to the man.
Last year I went into business with my of all people, ex-husband. He wants to get into the arts and crafts business preparing for retirement. He isn't much of an artist and knows nothing about the internet where we would like to do business along with shows. I have experience in both, arts & crafts, and the internet so we've partnered up in business only - he provides the finacial backing and I do most all of the work.
Set up a meeting with the man - he may be thrilled at the partnership idea.
@byfaithonly (10698)
• United States
20 Jan 08
Oh, I've requested a friedship here on mylot - I would love to talk to you about the e-commerce business. I/we have a website and domain name but I tried setting up an online store and it was not working right - I was wondering if you might give me some pointers in that area.
@Savvynlady (3684)
• United States
27 Feb 08
If you plan to do any business with this person, make sure from the start that you both have an agreement, preferably on paper on how this business and profits will go once the benefits are reached. Once you got that going, then you can proceed, but not before you have that on hand. From the looks of things, you both can make a go of it with what he has and you have, but only if you do it right.
@LittleMel (8742)
• Canada
17 Jan 08
I have only had my small business for 2 yrs I may not be able to give you a solid advice yet, but the way I see it you can face any challenge if you put your heart and mind into it. Any business no matter how long they have been in the market, can close any time. You have done your research and you have been where this guy hasn't, in terms of running out of money. You should put together a good portfolio with your experience, research, tools anything to make him understand that he needs a partner and you are this partner, or at least you can make him realize what he needs to do and that he can always ask you for help - and then you can charge a fee every time you help him or you can start a new business that is providing service for those new in business. It's a small town, but it can get big someday. good luck.
@dovinea (80)
• United States
5 Feb 08
I would be very careful with this type of arrangement. Since he holds ownership to the business, business licenses, accounts, etc., you could get yourself into a situation where you get him all set-up with your info and ideas, and a month down the road, you could be gone! If you were to do this, I would ask for a legal partnership. These are easily established and would protect you in the future!
@shewolf52002 (1214)
• United States
17 Jan 08
I think you could really be profitable in this. You have something that he does not knowledge and some experience it sounds like. I would just recommend you get it in writing so that he doesnt use your knowledge then leave you in the cold. I would love to find someone knowledgeable on some of the ideas for buisness I have had.
