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I have kind of a business arrangement / franchise potential

Hi... I have kind of a business arrangement / franchise potential question. Where I am the franchisor.I have a small chiropractic business I am expanding. I have a guy that is struggling in practice. He is a good chiropractor and great guy but just not business savvy and I have the opportunity to kind of partner up with him (bail him out so to speak) by helping him get his business going by converting it to a franchise location for me or partnering up with him in some way.Advantage to him is he can break even or make money quickly to support family, etc. using my model (well in theory). He is bleeding about 1k a month right now and has been at it 1.5 years with just a 3k month overhead so he aint exactly growing too quickly.Advantage to me is that I can add another location to my company fairly quickly/easily (be our 3rd) in an area I would love to have a location with a doc ready to go... so that is my drive to make this happen.So the question is this. If I move forward with this, I am struggling on ideas of how to arrange the 'deal' with him.Not sure I want to take over his lease for him (1.5 years remaining) because he could of course abandon ship. Could just add my name on to lease and take over his operations and hire and train him. That seems clean only because he is still on hook for lease but why do that if don't have to be on it is my struggle there.Next option I thought is have him sign on as franchisee and just add addendum for no Franchise Fee, No royalties, etc and maybe just defer it all along with paying back any money I spend to get this going (be about $15K initially most likely to get him up to speed and hit marketing hard for several months)I have come up with scenarios and typed them out but didnt want to attach here because feel like it will be too overwhelming to read my potentially terrible scenarios.So my question is... Can you give me some ideas on a way to employ or partner with a guy in a situation like this where it makes the most sense.Perhaps some partnership hybrid where he can't abandon ship if all is not going well. So maybe he stays on lease and we just have an agreement with him that we take over his finances of the office and hire him as 1099 for low wage plus percentage as turns profit.Or perhaps a modified franchise option as mentioned above with a loan to get him going and he starts implementing my systems. Starts paying an amount per month towards these things on a profit level reached.Anyway.. hope this is a reasonable question you can give me some insight on.While I will probably consult an attorney in my area I like checking with this service as well so I can get an affordable second opinion and maybe just ideas of creative fair ways to structure it but most importantly any pitfalls to watch out for that I would not see coming or know about.

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Ely

Counselor at Law

Juris Doctor

64,422 satisfied customers
I have a large judgement against me personally, and I really

I have a large judgement against me personally, and I really do not want to file bankruptcy. I'd rather wait it out and see if I can settle later. It's in another State, and they haven't found me (yet). I want to start a business, but I don't want to hand it over to the judgement creditor when and if I do get found. I would rather "work" for a trust that will benefit my children. I know all of the arguments about trusts being "my" property in a collection action. But what about irrevocable trusts? What if I borrow the money from my in-laws to start the business, for the benefit of an irrevocable trust that is started by my in-laws for the benefit of their grandchildren?I was thinking of forming a limited partnership, with 99% ownership by the irrevocable trust. I would be owner of the 1% LLC general partner, or my in laws would form the LLC. Why or why not would this work? The business would be real estate related, so will enjoy equity growth. My only concern is that the equity might some day be taken away in a collection action if I own any part of it. I want my children to benefit from whatever I do here.Minor challenge/benefit- my in-laws are Canadian.

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Richard - Bizlaw

Juris Doctor

9,796 satisfied customers
A company based in CT owes me $60,000 I did in 2011 and now

A company based in CT owes me $60,000 for work I did in 2011 and now has money to pay but wants me to settle for 30 cents on the dollar. What are my options?

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RGMacEsq

Doctoral Degree

22,674 satisfied customers
Let me clarify a little further. The "Contract" staes that

Let me clarify a little further. The "Contract" staes that it is an Employment Agreement between my wife, the EMPLOYEE, and her llc. tHROUGHOUT THE ENTIRE CONTRACT, SHE REFERS HERSELF AS A corporation. She is NOT a Corp.,she is a LLC. iS THIS AGREEMENT STILL VALID?

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Law Pro

Doctoral Degree

23,546 satisfied customers
Our event company is looking to include in-house transportation

Our event company is looking to include in-house transportation as a service. This would include school buses, coach buses, or retrofitted school buses (hybrid party buses). I understand we have to have insurance and apply for a TCP permit.Do we need to have the vehicle beforehand?Do we need to have the insurance beforehand?Is it just the application packet we need to fill out?

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

108,056 satisfied customers
Not sure. I have quite a mess going. Business partnership

Not sure. I have quite a mess going. Business partnership gone bad. We have agreed to dissolve company since early may, 2014. Now he will not answer emails and he has his uncle, (my father, I know, I know) holding the equipment in a fenced yard) I can't get to the equipment to list it for sale. He is in Texas and I am in New Mexico. He and my father started talking on the phone after I got home from road on Apr 21. They talked one day for 10 hrs. (He is on my verizon plan, so I see all calls). Neither talks to me. I really don't know what they are up to. Business assets consist of one truck and one trailer and tools and supplies. Appr value $25,000 or so. About 12 K in Joint business account. We are a 50/50 llc member managed llc partnership. As you can see, it is quite a mess.

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Law Pro

Doctoral Degree

23,546 satisfied customers
I want to buy a business but I need to be a limited partnership.

I want to buy a business but I need to be a limited partnership. If I own 90% of the stocks and my partners is 10% Am I legally considered a limited partner in this company? the reason is that I own a franchise business that allows me to buy other non-competitive business as a passive investor only. So, the new business will be run by my partner and will be only part of the business.

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Law Pro

Doctoral Degree

23,546 satisfied customers
Under what circumstances can an employee of a company or small

Under what circumstances can an employee of a company or small corporation become personable responsible to a third party.Say that an employee or corporate officer order a product, which is a normal part or product used in the operation of the company and the vendor is made aware that the product is for the company (The Vendor also invoice the product to the company), then under what circumstances can the employee or officer of the company become personally responsible to the vendor for what is owed by the company to the vendor?What kind or error would the employee or officer have to have made to become personally responsible for the debt owed to the vendor?I would like to be referred to relevant case-law and also to the laws governing this issue.Thank you

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Law Pro

Doctoral Degree

23,546 satisfied customers
Im a real estate broker considering joining a real estate

I'm a real estate broker considering joining a real estate brokerage to hang my license. I will be paid as an independent contractor. The brokerage firm has an E&O policy that I'll be covered under. Any reason I should form an LLC or Corporation for liability concerns? It seems like all my business will be conducted in the name of the brokerage and I'll be covered under their E&O policy.

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Damien Bosco

Attorney

Doctoral Degree

3,080 satisfied customers
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