they suffer only because they don t pay attention and hear only what they want to hear. You noticed the disclaimer, right?
The words are there.It s up to you to read them.
they suffer only because they don t pay attention and hear only what they want to hear. You noticed the disclaimer, right?
The words are there.It s up to you to read them.
Well you have Mitch sold, which would be good if you were using his money.... Ever hear the saying put up or shut up? I think that advice would apply here. 1. So you have a private air strip. How does this help me? Are you going to fly my RV in? One has nothing to do with the other.2. Family RV Parks are like family farms, they do not make any real money. It is about living the life style, so if it is not something you would enjoy (while not making good money) keep looking.3. Most people do not like to do the same thing twice. With local people there are things you can do for repeat business. With people who have to travel to get there... Well first you have to do the impossible and get them there. Second you have to make them want to come back. No matter how awesome the tropics, smokey mountains, grand cayon, yellowstone, and on on... people want something new.So knowing this, you have two options..1. Don t open a RV park and stay the same.2. Open one say hello to a lot of headaches and debt.
your options would be to build or not to build You have a private air strip... that s awesome... i m jealous. realistically though, your options are this..First thing you HAVE to do is become a legal business. get an LLC or similar. S-corp may be better for you. look into your options before you do that, but you must do it. Make sure you are legally allowed to do this on your land.once that s out of the way and your business is FORMED legally, IMMEDIATELY go to work on your working capital.. IMMEDIATELY go to work on YOUR personal credit, and learn very quickly how to establish BUSINESS credit (which is very very very very difficult for start ups)ok.. lets say you have that started..here are your options..1. Find an investor who will spot you some money to build it the way you want to build it. of course then the investor owns a big chunk of it. 2. Start SMALL. plan the entire thing, but build it in sections. i don t know your acreage, but lets say there are 20 acres you can make into an RV park... make 5 acres into an RV park, and start making use of that immediately. use that revenue to recoup your investment and let it put you in the red again. that may take a year or two! by that time you have PROBABLY established a bit of company credit, as well as a little bit of equity and savings potentially, even if the savings is really just recouping your investment. take that and try to get a loan from the bank. if you re denied, use your investment money again... either way, build phase two once you have the money to be able to... then make use of phase 2... keep adding to it as you can.. within 2 years as an established business, you SHOULD be able to get a loan, or an open line of credit, or any of the things that companies and corporations are entitled to. whatever you do by the way DO NOT set this up as a sole proprietorship... there is no protection in this. also, another thing you SHOULD do is PERSONALLY own the land, and then charge RENT to your company for using the land. Do not sell the land outright to the company and do not donate it... that s my INITIAL advice.. there s one more thing you could do. when you say RV park, do you mean extended stay rv park? or let s go see the mountains for a weekend type RV park?? if it s an extended stay, you MAY be able to pre-sell lots to people in order to help you begin your build. another thing i would DEFINITELY do is to build a store / cafe / laundromat and maybe gas station kind of shopping center thing at the end of the property near the main road. not only could you get passing traffic, but everyone from the park would go there to buy stuff. anyway, i hope at least some of that sparked something in your head about what to do..I really do wish you luck! it s exciting hearing about people who have ideas. it s more exciting to hear that they ve actually done something with them..
are you located in texas, call acion they are a micro lending agency
Contact your state department of labor. This is highly illegal and needs to be stopped. If you are working over 40 hours in a pay week at one job, you deserve overtime for each hour after the first 40. If your employer uses a 2 week pay schedule, make sure that your 40 hours are all in the same week. The case will not be that easy to prove at first. The state will have to observe you working for the entire week and comparing the documented hours on your paycheck.
If he is doing this to several of his employees I suggest that you collectively file a complaint with the state department of labor and with the US Department of Labor.What he is doing is illegal.Good luckJerry-the-bookkeeper
If you are going to start a small business, ownership is typically the result of some company stock purchase. Whoever puts in the money, gets the ownership. The people with the money are taking all lthe risk. 99% chance that this business doesn t last a year and the people p[utting up the cash lose it all. That said, if you are doing the work, you are bringing something to the table. I think you re dreaming if you think that the fiance should have 33%, when she is putting up no money and doing bookkeeping. Get real. Here s what I would do...Sister/Brother-in-law - 100% initially. (They are taking all of the risk, you are taking none)You/fiance - 0% (your time is not worth that much)You take 33% of profits initially. Notice, I said profits, not revenue. When your 33% of profits equals $4000, you buy half of the business from your Sister/Brother-in-law. In my mind, the fiance will be with you and you re ownership intererest is community property. If for some reason, it doesn t work out with the two of you, she will hit the road, and you can find an accounting firm. When you own 50% of the business, you can take 50% of profits. It would probably also be fair to get some sort of commision on top, but that s something to negotiate with the sister/brother-in-law. Have fun.
You need to project realistic cash flow so that you have an idea of what kind of profits are going to be coming in. Arrange the percentages so that the financier (your in-laws) have a realistic hope of recouping their investment within 5 years or less. You and your fiancee split the rest. You may want to put in some options to give you the opportunity to buy more equity later, after you ve saved up some money.
Think of it this way they have all the money invested so they re feeding the company while your working with it, technically without them there is no company, without you theres a company, except it does nothing. So 25% each (or 50% to them) seems fair to me.
give them 50% of the profit until they recieve 150% of their initial investment.
more than others
With the information you have given, I would say is your Sister and her husband own the business 100%. Do you bring any skill that only you can provide? Do you have a patent in your name that is part of the business? Did you have an arrangement when you started that you would have an equity position in the company? Does everyone draw a salary? How and when will the start-up money be repaid? Unless you agreed in the beginning that your work effort would somehow be compensated for by something other than a paycheck I think you need to do that now. Remember that unless you can get the money somewhere else you really have no bargaining leverage.
if you win then you would pay $68.
you pay 1 increment above the next highest bidder.
get an agreement with manufacturers and find some space
dunt knw.