Howdy,
Would love some insight on my current situation.
My 50/50 business partner and I started a company here in Boulder, CO Jan 1 2017. In the past 1.5 years we've grown quickly, upgraded equipment and have made a name for our selves in the local industry. We are probably the youngest company in town with ages of 27 and 25. This month my partner had some large life changes occur and has to move back his hometown. Both of us are super bummed. Now we are trying to figure out how to split things up. I am planning on buying his portion of our truck, chipper, dump trailer, and equipment at a fair rate taking into consideration deprecation etc.
My real question is that besides our equipment, is our small business worth anything? From talking to friends in the industry and other people with years more life experience, i've gathered that in the end of the day, our "business" is really worth nothing. We don't have any large annual PHC contracts or big city jobs. My partner and I have both worked hard to make this happen and are more than happy with the results, but in the end of the day I don't know that our business is really worth much more than our assets. I want to give him the money for our equipment and some chunk of money to acknowledge his amazing work and brotherhood as a business partner.
Has any one gone through a similar experience? Anyone have some insights on how to handle this situation to where we are both tastefully satisfied or dissatisfied?
Would love your input.
Thanks
Would love some insight on my current situation.
My 50/50 business partner and I started a company here in Boulder, CO Jan 1 2017. In the past 1.5 years we've grown quickly, upgraded equipment and have made a name for our selves in the local industry. We are probably the youngest company in town with ages of 27 and 25. This month my partner had some large life changes occur and has to move back his hometown. Both of us are super bummed. Now we are trying to figure out how to split things up. I am planning on buying his portion of our truck, chipper, dump trailer, and equipment at a fair rate taking into consideration deprecation etc.
My real question is that besides our equipment, is our small business worth anything? From talking to friends in the industry and other people with years more life experience, i've gathered that in the end of the day, our "business" is really worth nothing. We don't have any large annual PHC contracts or big city jobs. My partner and I have both worked hard to make this happen and are more than happy with the results, but in the end of the day I don't know that our business is really worth much more than our assets. I want to give him the money for our equipment and some chunk of money to acknowledge his amazing work and brotherhood as a business partner.
Has any one gone through a similar experience? Anyone have some insights on how to handle this situation to where we are both tastefully satisfied or dissatisfied?
Would love your input.
Thanks
