Hey so me and a partner recently bought a physical store ( at the moment we are 50/50) & want to split it into 3 with another partner (33% each). What are the steps to doing this?
Hey so me and a partner recently bought a physical store ( at the moment we are 50/50) & want to split it into 3 with another partner (33% each). What are the steps to doing this?
You will need a sale agreement where you will reallocate your share amongst the 3 of you. You should also sign an operating agreement now so that the rules are clear. You guys will need to use some reasonable way of valuing the business, so that you can use the valuation to determine the third partners cost to enter.