Need Business Advice

Discussion in 'Growing and Managing a Business' started by Josh Olson, Apr 17, 2021.

  1. Josh Olson

    Josh Olson
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    So I started a dairy farm and had to take a loan out for $250,000 to get started. I’ve been farming for 4 years now and am starting to pay off the debt. But my younger brother wants to farm for a living with me. I want him to be 50/50 owner will me but I can’t really just let him be partners with no contribution towards the start-up. He does work in his free-time full time in the summer and occasionally after school. I don’t pay him anything for working for me and he’s worth $15 an hour. Any ideas how I can let him be partners that’s fair to both of us? Keep in mind he is family.
     
  2. adi20

    adi20
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    If you have invested money in it, build a team and let him handle them and bring revenue from them. That's how he can be partner with you. You can find another thing from where you can earn more so that you can pay your debts even faster.
     
  3. MassimoD

    MassimoD
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    Joint Venture = 50% / 50% in terms of profits and loss.

    It seems you cannot build a JV, because your brother does not invest with you.

    If you invested $250K, you need to create the right part of the job for your brother - otherwise he gets the full benefits without risks....
     

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