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Salon44

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Hey guys,
Im finding myself in an very awkward and unhappy situation business wise.
Two years ago I decided to open a salon with another girl where we acted as sole traders but halfed rent, bills etc and are still doing so now but meanwhile she hasnt been apart of the business much due to having a baby and is now coming back one day a week and cant see this changing much in the near future.
where do i stand in this situation? we have 5 girls who rent space and they pay into a joint account which we only use for rent, bills etc, the salon has so much potential and could be making more money but m losing motivation seeing as im the only one putting my all in.
But now i just feel trapped in a situation i dont want to be in please help! xx
 

RED STAR

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Not quite sure I can be of any help here.
Seen it many times over......partnerships with unequal levels of input!:(
Was there no plan put in place for such a situation?

Find out how feasible it will be for you to buy her out.
A partnership can only work if 2 people have the same goal.
GOOD LUCK.
 

Salon44

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I know I have had a conversation with her to let her know how I feel but don't think much will change. Thinking it would be best to see a business advisor and get contract drawn up so that we know where we stand. I'd love to take it on myself but she has got too much of a good thing! X
 

Salon44

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Thanks! It's so hard didn't realise it would be but when situations change and your left with most of the responsibility you become bitter! Xx
 

PamieD

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Did you post before about this? If so I didn't realise you were sole traders, rather than a partnership. It does sound like it's time to move on.
 

Salon44

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Well unfortunately I'm tied into a 3 year contract and not chucking it all away just need to plod on I suppose xx
 

PamieD

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Do you mean the lease? I'm sure there's a break clause in it. If you don't mind me saying, it does sound like you need some professional advice (bank advisor, solicitor).
 

Salon44

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Yes it's 5 years with 3 year break clause. I'm going to seek some legal advice from somewhere x
 

Georgenelson

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My suggestion is while having partnership you have to be careful on documents you have signed up for partnership.

Top Manpower Services Dubai
 

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