tag:blogger.com,1999:blog-5988314300496275257.post1032136901724729523..comments2023-10-22T10:57:38.021-04:00Comments on This Journey Called Life: A Business Proposition???Evehttp://www.blogger.com/profile/05775924277922264914noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5988314300496275257.post-38807898345536347772009-02-24T09:53:00.000-05:002009-02-24T09:53:00.000-05:00There is definitely a need for affordable childcar...There is definitely a need for affordable childcare in Philly, but I would tread carefully in going through with business ventures with friends. If you do go through with it, spend the extra money and time to hammer out an agreement with a lawyer that will protect you legally.Shen Dovehttps://www.blogger.com/profile/17263458786901489092noreply@blogger.comtag:blogger.com,1999:blog-5988314300496275257.post-69638510576701462052009-02-23T14:09:00.000-05:002009-02-23T14:09:00.000-05:00Yes, I think I have to agree with the first two co...Yes, I think I have to agree with the first two comments. I'd really think about it seriously. Usually partnerships with friends don't turn out well...my husband did this and he ended up doing all the work, and contributing most of the funds! Well, we chalked that one up to live and learn. I'm all for entrepreneurship, but child care doesn't seem like a growth industry right now. Here in Dallas it is really going down the tubes. But I will say, if that is absolutely your passion, than that's another thing. But like The Monogamoney Duo says, you can do it yourself! I am really really leery of business partnerships with friends and family. In my own experience, I have never seen one that turned out well.Tessiehttps://www.blogger.com/profile/17960395861013549328noreply@blogger.comtag:blogger.com,1999:blog-5988314300496275257.post-24113337543991533392009-02-20T09:16:00.000-05:002009-02-20T09:16:00.000-05:00I agree with Monogamoney.If $10,000 is 35% ownersh...I agree with Monogamoney.<BR/><BR/>If $10,000 is 35% ownership, then it's only fair she gets 65%.<BR/><BR/>But you should be careful going into business with a friend (or even family member). You may end up feeling resentful, not knowing how it changes your relationship in terms of separating work and personal.. and times are not exactly fabulous right now that parents are working constantly and need daycare.<BR/><BR/>Couldn't you do something like a home daycare in that case, and have less overhead? I've heard of people starting up their own home businesses, and they just buy a couple of toys, snacks, keep the living room clean/safe and from 3-6 they watch the kids and play with them.<BR/><BR/>I also am concerned about the EF chunk being taken out at this time.<BR/><BR/>With that being said, if you think it's a good idea, then you should go with your gut instead of not doing it and regretting it for the rest of your life.FB @ FabulouslyBroke.comhttps://www.blogger.com/profile/12966672580040786485noreply@blogger.comtag:blogger.com,1999:blog-5988314300496275257.post-26203808948080582002009-02-20T06:17:00.000-05:002009-02-20T06:17:00.000-05:00I would be careful ... even if there is a waiting ...I would be careful ... even if there is a waiting list at daycare centers, people are cutting back and getting laid off ... if I had kids and got laid off, daycare would be one of the first expenses I cut. Not that it couldn't be a great business, but it is a huge risk and the projections could easily not come true. It's not that easy to open multiple locations, either. How much money is she putting up? If she is putting up 65% of the money then I think it's fair that she gets 65% ownership. But if she is putting up only as much as you, then I would forget it, or ask for 50% ownership, or at least 45% or something like that. It's not like she has this brilliant idea that no one else could have thought of. You could easily open a daycare center on your own. Think about whether she's really bringing enough to the table to demand 65% ownership.The Monogamoney Duohttps://www.blogger.com/profile/11164083342936877161noreply@blogger.com