Problems with friends in a business? -

One day me and my friend decided to start off a business, so since my major is into business I thought this would be fun and a great learning experience so we decided that he would get 60% profit and I would get 40% profit and when I put down $140 to get the machine to make our product. I found out later that my business partner made a T-shirt with my other friend without me. More stuff happened and I felt like I was getting cheated because it was a partnership whatever we do we were both suppose to be in on it. And just now I wanted to just get my $140 back because I didn t know what was going on and my other friend said thats stupid if I wanted $140 . Am I right or wrong? I think I should be getting 100% of my money back because I feel left out in a partnership and apparently our friend thats not in this knows more of whats going on than I do.

You can ask your partner to buy out your portion of the business, and see if he s willing to pay you $140. He can always negotiate you down. It s up to you two to reach an equitable solution. There s no such thing as 100% refund in this case.

When you invest in a business you stand a chance to lose all of your money. If your major was business then you knew that a 60-40 split meant that he was the controlling partner and would be able to make all of the decisions. The only chance of getting your 140 back is if the company makes a net profit of around $420. (he get s 60% of the net profit and you get 40% of the net profit), that is if you don t leave first, then you get zip.

if you can, find someone to buy out your part of the partnership.Then, only seek partners who will not violate the law ofFIDUCIARY.luck

your best bet is to let your partner go and reconsider getting into business with friends again.I ve made that mistake, not just with friends buy family as well, and I vowed I will never get into business with them again.I love them, but love doesn t always equal good business relationshipsIf you want to start your own business and not have to rely on friends of family to help you make money, there are ways of doing it. My source below will help you out with that one. there are better things you could do with $140