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So I am moving away from the automotive industry and will be staring a mobile heavy diesel repair and service business. Does anyone have any good contacts or know of any forums that would be of benefit to me to get some mentoring and some advice from the pros? Thanks in advance!

Hey guys so I am working towards sitting down with an attorney and writing up a partnership agreement with my business partner, but I first need to sit down and talk everything out with him. Attached you will find a worksheet that directs us through a few of the considerations before we see the attorney. I would really appreciate it if you could take a quick look at the worksheet and see if its missing anything in regards to an automotive shop partnership. In return for your help feel free to download and keep a copy of this worksheet, and the new one if we find anything to change. Thanks! Partnership Worksheet.doc

And please post, please comment and give us all the wisdom and advice you can spare thanks!

I want to invite you all to follow me through the process as I blog my expansion and partnership. Follow us at https://www.facebook.com/groups/498885236930554/

I would agree although it hurts to think about, but I just pray for the wisdom to be able to make it all work out.

Well said and I guess maybe that could be the case for me too but I guess I will never know until I'm a few years down the road with this.

It definitely takes the most discipline and I think that is why people dont like partnerships, people partner just to partner and not because they need what the other partner can bring to the table. You simply have to learn how to compromise for a greater benefit in the end.

You have mechanisms that determine how to treat a stalemate in a decision.

So say we have a partnership that is properly formed do you guys see pros or just cons in a partnership?

Ya I'm nor blindly trusting an attorney I have a lot of experience and a college degree in business so I am also going over everything with a fine tooth comb.

Also if your corporation is set up so that everyone is 50/50 owner of the shares of the business all decisions have to be passed through both owners not just one!

I'm not asking after I'm working on forming the partnership as we speak and yes that is exactly what I'm doing, paying big money to an attorney to set up a legit partnership that spells everything out before hand.

Ya but this all can be solved by simply writing it all out and agreeing on it before hand.

Exactly my point that is how I am going about it and we have had no problems so far.

So I am entering a partnership and have found there is a horrible stigma out there about partnerships. Just wanted to get some input from your own experiences good and bad? Why have you had good or bad luck with a partnership?