Make sure the operating agreement require everyone agreement to sign before taking on a loan so he doesnt take ona loan himself. For a service business, even if 1 customer doesnt pay, it can not lead to bankrupcy unless he has a lot of employee. From the sound of it there is only a few people. A few people expense isnt enough to be out of business due to 1 customer not paying, well unless the bulk of it is from buying material/parts for them, which is another lesson you need to find out learn, on parts. Need deposit and full payment early. Generally IT, you pay someome 20-40 dollar an hour, and charge 100-150 an hour. So 1000 hour will be 20k-40k labor cost, you charge 100k-150k, after paying lanor thats a good 60k-110k left over. If ur doing the work, you need a salary. If he does some work, he also get a salary. Then whatever left is split. It seem like he is bad at managing money so find out more detail and be involve. He dig himself in the a hole. What make you think he cant dig you and him in another hole? So fully understand the current books and why he got himself iny he hole, yes 1 compant didnt pay. But what about the other company, total money came in, where did it all go? Its a great opportumity. Just make sure you tread carefully

Profit = (price * volume) - cost. Price sometime is hard to change adjust and might not mkae that much difderence. Volume, a lot of time you cant control. That leave 1 thing lefr, cost which you havr 100% control. Look over your expense. Start cutting cost, shopping around. Do you need all the employees? Can you do with 1 or 2 less? What if you do a little more, can u remove 1 person? Some people run a business that does 2m or 4m and lose money or break even. While some people does the exact same business, but can get a 10-15% profit. Its all due to expense think price before spending something. Spending isnt just a write off, its money out of your pocket

Business itself has huge risk. Opening a business is easy. Everyone can do it. Getting a business busy to make money is very hard and require a lot of passion and dedication. Getting 300k debt to do it is almost like gambling because you have no clue how well that spot/location will do and what the numbers are. For 300k, you can buy a business that is has a net of 100k-200k already guarantee.

The grass is always greener on the other side. Its not. I went over there and checked.

Spending time with kids is important. But what really matter is how much you love them, not necessarily spending time with them each day every single day. Me and my wife use to work a lot, didnt spend much time with the kids, sometime maybe even less then 2 hours a week majority of the time. Is spending tine with them, more important then having money to provide them the best things in the world and a bright future?

Part of your issue is also the drive. Need to move close so it only takes 10 minutes or so to get to the office and hire an operator. Ur wasting 2 hour each dat