For context I work at a small coffee shop . They have been established for 15 years… before Covid the business isness was VERY busy . The coffee shop to be at. During Covid the company had to switch managements and business began to decline . Right now it pays enough to operate and pay employees (this includes myself)

I’ve been working there for 2 years. I recently expressed to my boss I want to start my own business venture but I don’t know if the time is right . I love what I do and the neighborhood I’m in. I find a lot of joy in building and creating a community . She saw this and my dedication and hope for the place and offered me half of the business ess and profit made from it.

What am I getting myself into? I feel this offer is amazing and something I would really love doing. I’m young and don’t have much to loose… or maybe I do and that’s why I’m posting. I’m willing to invest 7k into the company but nothing more. But a lot of my time and dedication would be to bring business back in .

What do I need to think about ? Pros and cons?

  • fireweinerflyer@alien.topBEnglish
    1·
    1 year ago

    Are you willing to give up your hourly wages for a cut of profit?

    Also - 50/50 is never a good idea. One person has to own more and have the final say.

    Look at the financials for the past 5 years and see what your 50% of profit would have been. If it looks good and you are willing to do the work then this could be a good deal.

    Make sure that there is a buy/sell agreement and that you have a succession plan in place as well. This saves a lot of headache down the road.