Partners,You dont need them.

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jellybear
Double Chili Cheeseburger
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2005/05/09 08:07:09 (permalink)

Partners,You dont need them.

I wish I had listened to my Bankers advice on this,My Partner is causing all kinds of problems from spending too much $$$ om p.o.s systems and computers to messing with the kitchen help.WE all agreed that I would be the only one that gets paid the first year and now HE wants to get paid for playing around on the computer and putting up stock!He has no Restaurant experience what so ever and last week when it got crazy he bailed out and left me there with a bad hip to close up after being there all day.I cant belive how he turned out like this.My Father always said, the best way to ruin a Friendship is to go in Bussiness together,I should have listened to him too.
#1

18 Replies Related Threads

    nvb
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    RE: Partners,You dont need them. 2005/05/09 08:17:51 (permalink)
    quote:
    Originally posted by jellybear

    My Father always said, the best way to ruin a Friendship is to go in Bussiness together,I should have listened to him too.


    I must have listened to your dad because I never entertained the idea. I wanted to either succeed or fail on my own.
    #2
    dreamzpainter
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    RE: Partners,You dont need them. 2005/05/09 13:03:29 (permalink)
    My partner developed a problem with an illegal drug, suppliers not being paid, daily proceeds coming up short, we crashed and burned in less than 2 months.
    #3
    Scallion1
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    RE: Partners,You dont need them. 2005/05/09 13:24:38 (permalink)
    I've been on both sides of this. Horrible partners, and, now, a great partner.
    But you have to remember that there is such a thing as due diligence. And written contracts and partnership agreements. And checking accounts that require two signatures.
    FWIW, my advice is dump the guy, by whatever legal means necessary, or ask your lawyer how to walk away without liability, if the monetary loss wouldn't be too great on your part. You can make more money: you can't regain a couple of years spent in bad partnership hell.
    Go get him.
    #4
    UncleVic
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    RE: Partners,You dont need them. 2005/05/09 19:24:52 (permalink)
    My old business partner up and died on me... Never expected that one...
    #5
    Stephen Rushmore Jr.
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    RE: Partners,You dont need them. 2005/05/09 20:26:55 (permalink)
    I have awesome partners on this site

    In my "other" job I work with dozens of partners from around the world. The one thing that keeps everything together is a very thorough partner agreement. Establishing one before starting the business will set expectations and goals for all the stakeholders.
    #6
    Adjudicator
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    RE: Partners,You dont need them. 2005/05/09 21:23:29 (permalink)
    quote:
    Originally posted by Scallion1

    I've been on both sides of this. Horrible partners, and, now, a great partner.
    But you have to remember that there is such a thing as due diligence. And written contracts and partnership agreements. And checking accounts that require two signatures.
    FWIW, my advice is dump the guy, by whatever legal means necessary, or ask your lawyer how to walk away without liability, if the monetary loss wouldn't be too great on your part. You can make more money: you can't regain a couple of years spent in bad partnership hell.
    Go get him.




    YEP!!!!!!!!!!!!

    "Go get him..."


    NOW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


    #7
    jellybear
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    RE: Partners,You dont need them. 2005/05/10 08:39:05 (permalink)
    Thanks Scallion I will heed that advice.Yesterday the SOB called me up and left a profane message on my answering machine because I took up for a cook he wanted to fire because he didnt like him.
    #8
    Scallion1
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    RE: Partners,You dont need them. 2005/05/10 13:03:18 (permalink)
    I repeat, the guy's a cancer. Cut him out any legal way you can. Change the locks, change the bank account, call your vendors and tell them not to accept orders from them, and ALERT YOUR ACCOUNTANT. I had a partner who seemed to be doing real well with the financial side, better than I though he could, until I found out that he hadn't paid withholding or sales tax. DUE DILIGENCE, my man.

    You know the old saying, trust everyone, but always cut the cards.

    Get on it.

    #9
    jellybear
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    RE: Partners,You dont need them. 2005/05/11 09:55:09 (permalink)
    Well,the azzhole has let us know how much its gonna take to get him out but the damage has already been done.Can we send back a brand new POS System that costs about six grand?A new laptop that costs a grand?He has access to all the banking and online stuff,how do we cut him off.?
    #10
    berndog
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    RE: Partners,You dont need them. 2005/05/11 10:57:32 (permalink)
    quote:
    Originally posted by jellybear

    Well,the azzhole has let us know how much its gonna take to get him out but the damage has already been done.Can we send back a brand new POS System that costs about six grand?A new laptop that costs a grand?He has access to all the banking and online stuff,how do we cut him off.?


    Jellybear. I am sorry to hear of these problems you are having. I'll repeat what Scallion said, see your lawyer, ASAP !

    Before you buy this guy out at his price, have your lawyer check the partnership agreement to see if his actions have breached any pre-agreed limits, and if there is a less expensive way to get him out the door. Also go to the banks and change the acounts, including on-line access to remove him and lock him out. You may need a court order to do this, all the more reason to see your lawyer first.

    Best of luck in getting this straightened out. You have had enough stress with the surgery and opening a new business. I guess the one good point in this (if you are an optimist) is that you found out early how this partnership would work.

    Personally, I am a pessimist, and (don't mean to joke, but you need to keep your humor), you can always follow this business strategem for dealing with difficult people - ask yourself ....
    "What would Tony Soprano do ?"
    #11
    Nemis
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    RE: Partners,You dont need them. 2005/05/11 11:17:37 (permalink)
    Not making fun here , i don't have a business partner but i had a horrrible roomate at one time.
    never paid bills, had a total loser boyfriend and each time i'd come home there were always different groups of people sitting on the couch!!
    #12
    Scallion1
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    RE: Partners,You dont need them. 2005/05/11 13:04:33 (permalink)
    Jelly,
    Sounds to me like you got off fairly cheap. POS for six grand, laptop for a grand? Sure you can sell them. Try eBay.

    But first, and forgive me if this seems obvious, but TAKE ALL THE MONEY OUT OF THE BANK, AND DON'T PUT ANY MORE IN. Open a new account, or open two new accounts, one for escrow and one for operations, so that the sumbitch can't accuse you of doing him dirty. Now is the time for you to be cleaner than clean.

    Who's your lawyer? I hope it's not one you contacted jointly. Make sure that he/she (I always think women lawyers are better, fwiw)is 100% on your side. Don't be afraid to ask questions. Make lists of everything that you can think of that might arise later. Take your time.

    Of course, the Tony Soprano methodology also has its virtues. But it has some bigtime minuses, which far outweigh any convenience. Let me put it like this: you think your CURRENT partner is an azzhole and a problem???
    #13
    jellybear
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    RE: Partners,You dont need them. 2005/05/11 23:31:28 (permalink)
    I aint gonna let Him out now Ive decided,He put us in the Hole why not let him sweat it out like us?Let Him pay us to get out.This is gonna get ugly.
    #14
    chef joe
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    RE: Partners,You dont need them. 2005/05/11 23:54:50 (permalink)
    Hey Jellybear,
    Stumbled onto this forum. Anyway, after 36 yhears in all ends of the food business, I've been hot waxed so many times that there's no hairs left - literally! Less than a year ago I wrote a cook book, very well received and doing well, I have some major companies distributing the book and everything was rolling along until one of my partners in the deal (he has the books in his possession, along with custom made knives with my name and logo on them and knife sets with cutting boards, etc., decided that if I want anymore books I would have to purchase them from him at 3x's the cost we paid for them. I did everything by the book, lawyers, accountants, etc. He broke several rules of our contract and is now begging me to let him off the hook. Right is right and wrong is wrong! Play your cards honestly and keep good records, any and everything that was written down, have a copy of, this is what sets you free from any GREEDY, PROFITEERING, THEIF that's out to get you - BELEIVE ME I KNOW! Try not to lose sleep over all of this, the truth always comes out in the end and I absolutley and totally believe and know that truth and honesty prevails. "Keep your friends close and your enemies closer", as Michael Corleone once said. CHEF JOE>
    #15
    UncleVic
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    RE: Partners,You dont need them. 2005/05/12 08:26:42 (permalink)
    quote:
    Originally posted by chef joe

    Hey Jellybear,
    Stumbled onto this forum. Anyway, after 36 yhears in all ends of the food business, I've been hot waxed so many times that there's no hairs left - literally! Less than a year ago I wrote a cook book, very well received and doing well, I have some major companies distributing the book and everything was rolling along until one of my partners in the deal (he has the books in his possession, along with custom made knives with my name and logo on them and knife sets with cutting boards, etc., decided that if I want anymore books I would have to purchase them from him at 3x's the cost we paid for them. I did everything by the book, lawyers, accountants, etc. He broke several rules of our contract and is now begging me to let him off the hook. Right is right and wrong is wrong! Play your cards honestly and keep good records, any and everything that was written down, have a copy of, this is what sets you free from any GREEDY, PROFITEERING, THEIF that's out to get you - BELEIVE ME I KNOW! Try not to lose sleep over all of this, the truth always comes out in the end and I absolutley and totally believe and know that truth and honesty prevails. "Keep your friends close and your enemies closer", as Michael Corleone once said. CHEF JOE>


    Hey, I have a the cookbook by Chef Joe! Great collection of recipes!
    Definate must read!!

    #16
    chezkatie
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    RE: Partners,You dont need them. 2005/05/12 09:27:05 (permalink)
    quote:
    Originally posted by UncleVic

    Hey, I have a the cookbook by Chef Joe! Great collection of recipes!
    Definate must read!!





    Where did you buy this book? I would love to purchase a copy.
    #17
    UncleVic
    Sirloin
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    RE: Partners,You dont need them. 2005/05/12 10:39:11 (permalink)
    Chezkatie.. I received the book as a gift (autographed at that!).. But it's titled "Chef Joe's Most Requested Recipes". Probably check your local bookstore or maybe Amazon. I did a quick search and came up with this: http://www.sarasotataste.com/cooking.html

    #18
    2010Vision
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    RE: Partners,You dont need them. 2005/05/27 13:03:50 (permalink)
    JellyBean,

    I feel your pain. However, take a step back and analyze the whole situation again. Although your partner is a total screwed up, the reason you are in this mess right now is partly because you took him in knowing that he has no restaurant experience. The only way you can partner up with someone to open a restaurant that has no experience is that that person should have no management decision. Why would you want to continue this relationship and make it ugly? Life is much more than about getting even or not getting screwed. In other words, this is a well learn lesson and just cut your loss now. Why would you want to put more burden on your mind after a hip replacement surgery?
    Don't take thing for granted, your HEALTH should always come first because without it you can't really do anything.

    I always remember what my professor in the Business Law class said on the first day "Let somebody screw you over before seeing a lawyer or taking them to court" and he is one of the prominent lawyer in the country.



    quote:
    Originally posted by jellybear

    I wish I had listened to my Bankers advice on this,My Partner is causing all kinds of problems from spending too much $$$ om p.o.s systems and computers to messing with the kitchen help.WE all agreed that I would be the only one that gets paid the first year and now HE wants to get paid for playing around on the computer and putting up stock!He has no Restaurant experience what so ever and last week when it got crazy he bailed out and left me there with a bad hip to close up after being there all day.I cant belive how he turned out like this.My Father always said, the best way to ruin a Friendship is to go in Bussiness together,I should have listened to him too.
    #19
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