Partnership or solo

[Rockateer]

just a quick query in general have most of u set up alone, are you happy you did , the rewards are higher im sure but do u wish you had someone to knock heads with? Share responsibility?
Have many of u gone in half and half with a friend to start up your business?? success??
please share, am intrigued, am gettig such conflicting advice

 

[kimi1101]

when i set up my boyfriend offered to go into partnership with me, he has a good knowledge of business and had a wad of cash too which would have been nice but im stubborn and could see all the cons of it, what if we felt out etc, and also, if he owned half the business but really didnt do much of the day to day work i just felt it wouldn't be a fair deal. i was determined to do it myself. so in my opinion, go it alone. then there is no conflict in what is right anf wrong etc, all the profits are yours, and if you fall out, then what?!

ps my boyfriend and i split up 3 months after i opened so thank god we didnt go into partnership hahaha xxx

 

[jes]

Opening and running a business is incredibly stressful. Massive strains are put on marriages, relationships and friendships which can lead to separation and falling out. When the going gets tough (and it will every now and then) arguments are bound to happen about workload, commitment etc and then what happens when one of you wants to quit? For this reason I would never go into a partnership with anybody

 

[Rockateer]

kim im sorry you broke with your boyfriend, wow what a great thiung ye didnt acept his wad of cash
jes, i can definitely see wht you mean, i like things my way which would be hard
the reason i ask is i haave a young child - well 6 and between that and the desire to have someone to balance out the opposite to my talent, share the finances with etc i have considered approaching a not very close friend who i would /cpuld see myself working well alongside
i know this may be different in reality just a question to c what ppls experience was
thanks you two

 

[persianista]

I never say never! Although I don't have any partners in my salons I have partnerships in other types of business that I'm involved in. This can work well if it is different areas of expertise to your own. I think clearly defined areas of responsibility work best.
Also a partner can help with confidence issues.

 

[tigi]

I have a business partner and on the whole it works, but we do sometimes feel very differently about things.

We had a big falling out christmas, and the main thing it taught me was to speak up whenever I feel i should. I had let things go even though i didnt want to and it built up resentment in me. then things were said, i ended up feeling terribly hurt and considered walking. I am glad i didnt and it taught me a lot !

So , partnerships can be tricky but we are a year in and things are getting stronger and stronger between us. the main I could advise, is to be honest and also to accept that compromise actually means neither one of you will be happy but to recognise each others compromise.

I also say, if you cant agree, then both accept you cant and then close the discussion for another day. 24hours is often all that is needed to see a different angle!

 

[kimi1101]

I personally love knowing that my salon is mine! I am lucky to have good family and friends that when I have a dilemma or problem, they can help, and also I come on here with a lot of the issues I have too. As persianista said, its great to have a partner on board when you don't have much of an idea of what you are doing, but I'm glad I did it on my own. Would have accepted the cash as a personal loan and paid it back (although in hindsight that wouldn't have worked out too well either) but the thing was he wanted to give me half the money and own half of my business which just was not gonna happen. Good luck with your venture and I think you'll figure it out how you wanna do it with a little help from everyone elses experiences on here xxx

 

[Rockateer]

thanks everybody !!!

 

[single sparkle]

I will be 2 years in my salon in June. I started out with a Partner and she left after only 2 months!!
It was very tough as i had to buy her out of the business. She was under the impression i think that running a salon was going to be easy :lol:. anyway i can say never again well not for something like this. I think if you can do it on your own then go for it!

 

[Rockateer]

wow singlesparkle that is defintiely tough isnt it, jeesus....i mean i can nly imagine that the first few months are unbelievably tough without being faced with having to buy a partner out
thanks for adding to the thread, food for thought!