wheelieking71
Diamond
- Joined
- Jan 2, 2013
- Location
- Gilbert, AZ
I am pretty much hard/fast against partnerships. Like, REALLY against. But, I am also open minded. And, try not to make hasty decisions.
So, I have had a business proposition tossed my way. My gut says "HELL NO" (as I am sure most of you will).
I know there are tons of partnership horror stories. I can share a few personally. But, anybody got any success stories?
Most of you guys are familiar with my shop, and what I do (6 CNC's 1-4 men (including myself and the wife)).
If you have any input? Try to keep it relevant. I don't need to hear about fortune 500 mergers, LOL.
I don't have a ton of details right now. All I really know is:
A dude I know is losing his main guy. Has a ton of work, most of which is his own product.
His shop is equipped about the same as mine. I have 5 mills, 1 lathe. He has 4 mills. I have two pallet changers, he has one horizontal.
My pallet changers are tied up with production. His horizontal is tied up with production. I definitely need more iron right now. I think he is good.
We both work in the same segment (not competitors though). And, both gross about the same yearly (he did more than me 2019, I will probably top him 2020).
At this point in time I have TONS of work. More than I can handle, and have actually been subbing stuff out (which I absolutely can not stand doing!).
I need at least one, maybe two more mills. I'm losing a guy tomorrow, and having a hard time trying to replace him.
But, I'm thinking right now I need two more parts swappers, maybe three.
I'm tired of working a full day (8am to 6pm), then running parts with the wife for another 4 hours until 10pm after everybody has gone home.
I'm trying to hold tight until we see what happens in Nov. as, I do not want to experience what I went through last year again (way to much overhead, not enough work).
Anyways, we are both bringing a lot to the table. I however have more debt than him. Roughly $100k vs. roughly $20k.
Basically what it boils down to is this:
I am good at running a shop, and making parts happen (as long as I have man-power and tools available).
He is good at product ideas, marketing, sales, and growing his brand.
I am not good at what he is good at. And, he is not good at what I am good at. He knows this (this is his idea, not mine).
And, I think he thinks the sum of two, could equal three in this case. I think he is probably right. But, partnership!
It would probably be kick ass until we butt heads.
Like I said, nobody needs to talk me out of this! LOL. But, has anybody seen anything like this actually work? (I haven't)
So, I have had a business proposition tossed my way. My gut says "HELL NO" (as I am sure most of you will).
I know there are tons of partnership horror stories. I can share a few personally. But, anybody got any success stories?
Most of you guys are familiar with my shop, and what I do (6 CNC's 1-4 men (including myself and the wife)).
If you have any input? Try to keep it relevant. I don't need to hear about fortune 500 mergers, LOL.
I don't have a ton of details right now. All I really know is:
A dude I know is losing his main guy. Has a ton of work, most of which is his own product.
His shop is equipped about the same as mine. I have 5 mills, 1 lathe. He has 4 mills. I have two pallet changers, he has one horizontal.
My pallet changers are tied up with production. His horizontal is tied up with production. I definitely need more iron right now. I think he is good.
We both work in the same segment (not competitors though). And, both gross about the same yearly (he did more than me 2019, I will probably top him 2020).
At this point in time I have TONS of work. More than I can handle, and have actually been subbing stuff out (which I absolutely can not stand doing!).
I need at least one, maybe two more mills. I'm losing a guy tomorrow, and having a hard time trying to replace him.
But, I'm thinking right now I need two more parts swappers, maybe three.
I'm tired of working a full day (8am to 6pm), then running parts with the wife for another 4 hours until 10pm after everybody has gone home.
I'm trying to hold tight until we see what happens in Nov. as, I do not want to experience what I went through last year again (way to much overhead, not enough work).
Anyways, we are both bringing a lot to the table. I however have more debt than him. Roughly $100k vs. roughly $20k.
Basically what it boils down to is this:
I am good at running a shop, and making parts happen (as long as I have man-power and tools available).
He is good at product ideas, marketing, sales, and growing his brand.
I am not good at what he is good at. And, he is not good at what I am good at. He knows this (this is his idea, not mine).
And, I think he thinks the sum of two, could equal three in this case. I think he is probably right. But, partnership!
It would probably be kick ass until we butt heads.
Like I said, nobody needs to talk me out of this! LOL. But, has anybody seen anything like this actually work? (I haven't)