I need some legal advice

[Browns]

Hi can anyone help?
I have recently ended my business relationship with my sister. We were business partners for a salon that was doing well, but after 5 years still no extra profit apart from my £700 a month drawing to.pay my rent on my house. SHE HAD £1200 for hers, plus money for cleaning and car maintenance? I diverse sorry.. so originally my sister invested 60k into setting up the .salon. She isn't beauty trained so her role was admin and accounts management. I on other hand brought skill and experience and worked like a.dog to build our reputation. In total over the last 3 years I have brought £130 thousand revenue to salon. Plus.more recently put 20k in. I am told by out accountants I owe 17k to business? What can I do do I have rights to my investment back? Pls someone answer

 

[KrisKross]

You're right - you need legal advice - as in, someone sitting down with you and going through all of the paperwork, contracts, invoices, accounts, etc.

You need to find a very good solicitor and/or an independent accountant.

 

[BannerPenguin]

Yeah, you really need a solicitor to go over all your contracts etc. however you never have rights to investment back generally speaking as it's an investment. Spend a decent chunk of money for a really, really good solicitor.

 

[AcidPerm]

This is a very delicate situation as you're not just talking about ending an ordinary business partnership as family members are involved.

You must pay for professional legal advice in the first instance and also consider the possibility of mediation to try to find an amicable solution that both parties can live with.

 

[Browns]

This is a very delicate situation as you're not just talking about ending an ordinary business partnership as family members are involved.

You must pay for professional legal advice in the first instance and also consider the possibility of mediation to try to find an amicable solution that both parties can live with.

Thanks for your advice I will do that

 

[Browns]

This is a very delicate situation as you're not just talking about ending an ordinary business partnership as family members are involved.

You must pay for professional legal advice in the first instance and also consider the possibility of mediation to try to find an amicable solution that both parties can live with.

Yes it's hard but I will look for solicitor

 

[Browns]

This is a very delicate situation as you're not just talking about ending an ordinary business partnership as family members are involved.

You must pay for professional legal advice in the first instance and also consider the possibility of mediation to try to find an amicable solution that both parties can live with.

Thanks.i.will

 

[Browns]

You're right - you need legal advice - as in, someone sitting down with you and going through all of the paperwork, contracts, invoices, accounts, etc.

You need to find a very good solicitor and/or an independent accountant.

Yeah everyone saying same.

 

[Bettyboobumpkin]

Hi can anyone help?
I have recently ended my business relationship with my sister. We were business partners for a salon that was doing well, but after 5 years still no extra profit apart from my £700 a month drawing to.pay my rent on my house. SHE HAD £1200 for hers, plus money for cleaning and car maintenance? I diverse sorry.. so originally my sister invested 60k into setting up the .salon. She isn't beauty trained so her role was admin and accounts management. I on other hand brought skill and experience and worked like a.dog to build our reputation. In total over the last 3 years I have brought £130 thousand revenue to salon. Plus.more recently put 20k in. I am told by out accountants I owe 17k to business? What can I do do I have rights to my investment back? Pls someone answer

Maybe talk to your accountant on your own. My husband is an accountant and often mediates between his clients when this happens. He/she should know your business quite well and will want to make sure it's a fair deal for both of you as they will want to keep you as their client afterwards. He did it for a friend of mine about 10 years ago when her beauty partnership was breaking up and stopped it from becoming really nasty.

 

[Browns]

Maybe talk to your accountant on your own. My husband is an accountant and often mediates between his clients when this happens. He/she should know your business quite well and will want to make sure it's a fair deal for both of you as they will want to keep you as their client afterwards. He did it for a friend of mine about 10 years ago when her beauty partnership was breaking up and stopped it from becoming really nasty.

I was going to once accounts were done thank you

 

[Bettyboobumpkin]

I was going to once accounts were done thank you

Not sure what you mean here?