So Chef Wants to go into business for himself...
I should rephrase that; Chef wants to have his own business under my name. I am extremely hesitant about this seeing that he still has quite a large CS obligation for the next 8 years.
Anyone have any advice or experience? We live in dreaded business unfriendly New York State. He wants to start an HVAC business.
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and so what's your point?
and so what's your point?
If Chef wants his own
If Chef wants his own business then Chef needs to finance it. If he wants you to go into a business partnership with him then it needs to be a business you know and something you want to do.
In nys women owned businesses
In nys women owned businesses get special breaks. That and if the Gir knows its his biz, she'll get even MORE greedy.
Chef will essentially be my employee. Everyone he knows has been egging him on about starting his own biz because he is that good, but they dont know his financial obligations (CS) because he seldom shares that info (embarrassment?)
Id be stuck with the paperwork. And I didn't particularly care for his "well the Gir and Battleaxe have their own business..." Um its a SIDE biz being funded by many sources (including HIS CS)
You know how lazy and
You know how lazy and irresponsible he is. Doesn't matter if he knows the business.
Besides how much capital does one need todo HVAC repair and maintenance? Now selling huge commercial applications could but that takes a lot of money , skills, marketing - it's not a mom and pop operation if you are installing new HVAC in a 20 story building.
dont forget darlin' there's
dont forget darlin' there's more to NY than the City. i'm sure it'd be mostly residential and small-business - thrice, care to clarify?
i couldnt see it costing THAT much to start up, so i would only go for a small loan, to make sure he's got suitable equipment and a co-worker (and paychecks are covered until it goes into the black).
my grandfather was an electrician and made d@mn good money at it. i would talk to your financial institution first. and i'm sure there's alot of online reading chef could do for guidance on starting up.
I wouldn't do this for many
I wouldn't do this for many reasons, but odds are you will. I'm curious - you've talked about an escape plan but this is getting deeper and deeper enmeshed with Chef. I'm disappointed that you're even considering it.
If you do go ahead, I would ensure that he has his future payments of CS saved up for a year or two as most businesses are not profitable until then, and that's if they are profitable at all. I'd also get Chef to do a proper business plan, including all the research required (competitors, licensing, insurance needs, financial projections, etc.) before I'd make a decision to put the business in my name. If he's too lazy to do the plan, then he's too lazy to go into business for himself. There are a lot of sample business plans on the internet that could help him along. I'd also consult a lawyer to understand the risks associated with putting the business in my name.
My husband started a
My husband started a business..widely successful. Brought in partners. Lost majority share ownership in his divorce. His partners just froze him out and fired him. He is in a rough spot, to say the least.
My advice, start your own business, without Chef.
Why would you even consider
Why would you even consider adding one more tie between yourself and this abusive, alcoholic leech?
So, does Chef have a business
So, does Chef have a business plan? Has he tried to get financing from a bank. For the several years that his "business" is showing a loss, how is he going to pay his CS? His medical insurance?
So what women=owned buinesses get a break. If you want a woman owned business, start one yourself WITHOUT Chef.
This moron couldn't even get off his butt to file his own CS paperwork- you did it. Why would you have faith in him to be motivated enough to succeed in his own business? And God forbid he did, he would hand it over to Gir and his spawn.
DO NOT DO IT.
You've posted about this man
You've posted about this man doing all sorts of awful things to you from physical abuse to sexual assault. You've posted about him having/doing something on your property that could land you in jail if the police ever found out about it. Yet, here you are considering doing this for him. :? :?
Didn't he just have CS decreased and stopped handing over extra money to BM? If he did all of that then he doesn't have quite a large CS obligation anymore.
Something just doesn't add up. :?
I was wondering about
I was wondering about everything that Disney stated.
Just because someone is good at a job, does not mean they are cut out to own a business. The skill set is not the same. Doing paperwork is a big part of running a business - it doesn't sound like he has any intention of doing that. Who is going to hustle to find clients?
Am I remembering correctly that he quit or lost a job some time back and was having difficulty finding a new one due to the economy? If so, how is it a good time to start a business?
Does he really want to own a business, or does he want to do it because his friends think he should and because his ex has her own business? Why does he want to do what she does?
I don't think you should be considering helping him with a business. It will turn into one more thing that will tie you to him and keep you from leaving.
If you must pry, CS is "down"
If you must pry, CS is "down" to $20 more than the mortgage payment.
think, I know I am still
think, I know I am still relatively new here. I don't know your situation but could I please ask you to not do this for Chef? You already do so much and you have gone above and beyond. This could ruin you financially if he messes up.
nonononoNONONONO Don't EVER
nonononoNONONONO Don't EVER sign for anyone to do anything like this- even for a legal spouse. As you might remember I'm a banker, this never ends well, NEVER, and with someone like Chef who's so volatile, I would be worried for you Thrice, being even MORE financially tethered to him. As your friend and your banker lol, please, please don't do this.