HRod
07-11-2009, 04:29 PM
Hi everyone, I'd like to thank the members on this forum helping others who are getting started.
I've tried to search on how partnership for bars/clubs work, but everyone's situation is different.
My question to the experts:
When structuring a partnership with investors into the bar/club business, how does it actually work in terms of, for example, getting an investor to fund the business at start up, but not wanting to deal with the day to day operations?
My situation is that I came up with the idea/concept for a bar with a friend of mine years back. After much research and development on our business plan, my friend has now convinced one of his clients he's known for some years of our idea. The project will be a little over $100k investment, and the investor has now agreed on giving him the loan with the terms that the investor be the primary owner and my friend the secondary owner. However, the investor doesn’t want to deal with any of the day to day operations of the business, basically putting it allbin his hands. And in this situation, I’m not quite sure what my role will be anymore. I guess my concern is after years of creating the idea, it is finally coming together but something I will not have full control of.
What I want is to be fully involved in the day to day operations and have a decision making role in the business, since I know my friend cannot do it all by himself.
I've tried to search on how partnership for bars/clubs work, but everyone's situation is different.
My question to the experts:
When structuring a partnership with investors into the bar/club business, how does it actually work in terms of, for example, getting an investor to fund the business at start up, but not wanting to deal with the day to day operations?
My situation is that I came up with the idea/concept for a bar with a friend of mine years back. After much research and development on our business plan, my friend has now convinced one of his clients he's known for some years of our idea. The project will be a little over $100k investment, and the investor has now agreed on giving him the loan with the terms that the investor be the primary owner and my friend the secondary owner. However, the investor doesn’t want to deal with any of the day to day operations of the business, basically putting it allbin his hands. And in this situation, I’m not quite sure what my role will be anymore. I guess my concern is after years of creating the idea, it is finally coming together but something I will not have full control of.
What I want is to be fully involved in the day to day operations and have a decision making role in the business, since I know my friend cannot do it all by himself.