posted
What do you think of partners in a sign biz? What if, for example, you started an LLC And owned sixty percent. Someone else puts up all the money and keeps forty percent of profits. You get a salary, or hourly, , and keep sixty percent of profits. Profits, are what is left after paying salary, and overhead. Good deal, yes or no? I can see myself saying... "I did all the work, and I am giving away X percentage of profits.....but, also have some backing to set up on a larger scale." One time, I met a guy who had set up three floors of a building doing business repairing computers. He told me.. "I used to do ok working out of my garage, repairing these things....then, I decided to go big. Got this building, with its heating bill, maintenance, etc... And employees. Now, after all is said and done, insurance, employees, payrolls, heat bills.... I take home about what I made in the garage.... Except, it is a much bigger 'circus' I have to deal with now" Then of course there is the other story, where you scale up, and make a lot of money (hopefully.....) Any thoughts on all this.... Freelancing, vs, setting up shop with partners? I put the 'free' in freelancing in my years past, As a wandering artist sign painter....
posted
of all the people here on letterville, how many of them are a SUCCESSFUL PARTNERSHIP??? there is your answer)))))))))))))))))
-------------------- joe pribish-A SIGN MINT 2811 longleaf Dr. pensacola, fl 32526 850-637-1519 BEWARE THE TRUTH.....YOU MAY NOT LIKE WHAT YOU FIND Posts: 11582 | From: pensacola, fl. usa | Registered: Nov 1998
| IP: Logged |
posted
Keep your overhead as low as possible; find out what kind of work that you can make good money at, and try to develop that clientele; and stay away from partners.
Simple is always the best; and partners complicate matters in a lot of ways.
posted
My personal preference is no partnership...but when you added the phrase "wandering artist sign painter" it made me wonder a little...although "wandering artist sign painter" sounds romantic I can see situations where the alternative...a partnership...something steady and dependable... would be a better situation...your call on this...too many unknown variables that only you are privey too.
After my first year in the business...the oldest and most successful sign company in our town wanted to go into a partnership...he felt threatened by the work I was putting out...Gary is a great guy and we are friends to this day...especially since he realized that I didn't have the "killer instinct" in business that he had so feared...no doubt I would have made more money with Gary...employees, big trucks, big clients, etc...but more money has never been my first goal...one's happiness is the most important thing...and I liked creating and making stuff on my own and had work...however if your current situation is not addressing your needs that is something else to consider...I know it would have been a consideration for me.
posted
Shon...I tried the "silent partner" route once and it was nice to have someone else bankrolling the setup expenses, but after 2 years of me doing all the work and him receiving 50% of the profits, I called it quits and started up on my own.
I also tried the 50/50 working partner route too...That lasted about 4 months.
Partnerships seem to have the same "lasting" statistics as marriages.
Work on your own...That way you do the work, you call the shots and you reap all of the benefits.
It worked well for me for almost 30 years (with the exception of the aformentioned partnership blips)
-------------------- Dave Grundy retired in Chelem,Yucatan,Mexico/Hensall,Ontario,Canada 1-519-262-3651 Canada 011-52-1-999-102-2923 Mexico cell 1-226-785-8957 Canada/Mexico home
My Ex and I came to an amicable resolution in our divorce...
As long as I got my clothes and she got everything else, we would remain friends for life!!!!
After 33 years we are still friends!!!
-------------------- Dave Grundy retired in Chelem,Yucatan,Mexico/Hensall,Ontario,Canada 1-519-262-3651 Canada 011-52-1-999-102-2923 Mexico cell 1-226-785-8957 Canada/Mexico home
posted
i have a "sign painter partner." i moved here in 1998 and had a shop, so i needed someone that could go out to locations and paint while i stayed in the shop. was introduced to a guy named mark. he was his own sign painter. he agreed to work WITH ME......and we still worked for ourselves. some jobs he would bring to me, i would do as my own, others he brought, i would act as his backup. some jobs we split. we never have a problem with this arrangement. we discuss the layouts, how its done, how much is my responsibility and how much is his.... and we divide the monies accordingly.
-------------------- joe pribish-A SIGN MINT 2811 longleaf Dr. pensacola, fl 32526 850-637-1519 BEWARE THE TRUTH.....YOU MAY NOT LIKE WHAT YOU FIND Posts: 11582 | From: pensacola, fl. usa | Registered: Nov 1998
| IP: Logged |
posted
I can only imagine what being in business with Joe would be like...If I relocated to Pensacola and went into business with Old Paint...would that best be described as a "partnership" or a "partnershi#".(((((((((((((((((((((((((((((((
posted
rusty.......i go there.......with every reply i send to you......oh the humanity)))))
-------------------- joe pribish-A SIGN MINT 2811 longleaf Dr. pensacola, fl 32526 850-637-1519 BEWARE THE TRUTH.....YOU MAY NOT LIKE WHAT YOU FIND Posts: 11582 | From: pensacola, fl. usa | Registered: Nov 1998
| IP: Logged |
posted
Haha....those are some good responses! I too have always valued my time more than money. My freedom more than a regular job. Being a sign painter in Hawaii, for a couple of years it was extra excellent to set my own hours. Things are ok as they are. One thing I realized in the early years, though, Is that without money, you are only so free. Choices are limited. So, to some extent, for my time to be quality time, I have to spend some time working. Which is great if you enjoy what you do. Sometimes, I do get tired of signs. My artistic ambitions were so 'fine art and illustration' oriented originally. I am sure I could do some truly incredible impressionist painting now, having this kind of control of the brush strokes. Every time I do some other kind of work for an hourly wage (Which has been quite a while ago now) I realize how much more I really dislike regular type work ( for other people, doing my own stuff is different) And that doing signs is like a huge party in comparison. I feel like I want to feel, with no bs, Turn up the music, and produce some high quality work. It is so much better than having a regular job, I wouldn't even consider that now unless absolutely necessary.
![[Smile]](smile.gif)
Rusty ![[I Don t Know]](graemlins/dunno.gif)
Printer-friendly view of this topic