partner needed

Charlie Q2 · Joined: 02 Mar 2009 Posts: 8 Location: Champlin, Minnesota

I need a new partner. My cousin's health can't take the pace of this business, so he told me to look for a new one. I am looking for someone who works as hard as I do. Anyone interested can call me 612.242.6748 Suggestions on where I might post this opportunity are welcome. Business continues to set records on a weekly basis with incredible feedback
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Pit Boss · Posted: Mar 22 2009 Post subject:

Why do you need a partner? Why not a manager?

I don't particularly like partnerships...especially with "partners" you don't know.
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Charlie Q2 · Joined: 02 Mar 2009 Posts: 8 Location: Champlin, Minnesota

First, I can't afford to by him out. And even if I could, I've found a manager doesn't have the motivation needed. I would like to work with someone who is as commited to the goals as I am. I had managers at my first restaurant and I never could find an entrepreneurial manager. The commitment to do what ever it takes to make it work. Also I like being able to take an occational day off and know things are being run as they would if I were there. I'm not getting any younger and I would like to keep this moving. I have essentially created a concept and evolved it to this point without much input from my current partner and I would like to find someone who can help take this to the next level. Multi units and more. I have plenty of experience and ideas, but I also know that I can't do it alone. This is going great under current conditions and it's got alot of potential.
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30 years of restaurants, banquets and catering, including 2 schools and over a dozen restaurants including 3 of my own
The never ending quest to make it so much better than yours, Qfanatic.com
never boiled and never dry BBQ

marvsbbq · BBQ All Star Joined: 15 May 2005 Posts: 6186

What is the percentage of ownership being offered and at what cost?

BBQMAN · Posted: Mar 22 2009 Post subject:

An interesting problem to be sure.

Glad that your business has been going so well.

Actually, a working manager is a great idea. There must be someone motivated and experienced out there that would fit the bill.

This would involve your cousin being a silent partner until you could buy him out down the road (back to your comment that things are going great).

Give the manager incentive to work as hard as you do by offering a performance based bonus.

Like Marv, I gotta wonder what the figures are (and so will a potential new owner).

Then come the legal fees associated with the change.

In today's economy if cousin "it" is looking for $$$$$$$ for a buyout this might be a difficult proposition.

Like Cape, a partner I didn't know would be my last resort in a big way.

Good luck.
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Jeff Hughes · Posted: Mar 22 2009 Post subject:

I'd look at it as two different deals.

Buy out the cousin over a period(1-5years depending on the dollars), under terms that are agreeable to each of you.

Then, bring in a partner on terms that are fair, but leaves you in the drivers seat.
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Pit Boss · Posted: Mar 23 2009 Post subject:

I seriously don't want this to be taken the wrong way...and I even hesitate to say it...but, you know me Embarassed

If you can't afford to buy out your cousin, I wonder if business is really that great. If you guys have a good relationship, he should be more than willing to finance you his part. Then just let the business pay him.

In the mean time, look for a good managerial team. There are people out there that fit the bill.

If you have a problem with managers, and other people's work ethic in general, you're gonna have major problems when it comes time to grow your business. How do you think you'll be going to multiple units? Better to get that experience now than have to bumble through it later.

Anyway...just my thoughts. Carry on.
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kickassbbq · BBQ Pro Joined: 06 Jan 2006 Posts: 664 Location: mn

BBQMAN · Posted: Mar 24 2009 Post subject:

Good luck Ed, keep us posted!
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Charlie Q2 · Joined: 02 Mar 2009 Posts: 8 Location: Champlin, Minnesota

I use an alto-shaam smoker with apple wood chips. Similar to a Cook Shack but the sealed unit keeps the meat moister. Most customers seem to like moister meats. A few doubt it's smoked, like it dry I guess. Afternoons or after 7 any day but Monday. Hope to see you.
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30 years of restaurants, banquets and catering, including 2 schools and over a dozen restaurants including 3 of my own
The never ending quest to make it so much better than yours, Qfanatic.com
never boiled and never dry BBQ