I need the following drawn into a contract
Joint Venture Agreement
Joint Venture Objective: Mr James Vonderlieth will use his bookkeeping and business asset presentation skills in helping complete the sale of Sure Load Moving for $400,000.00
Goal: Sell Sureload Moving at the highest possible value after busy season ends around August. Sureload to be listed with Bruce Rockwell will VR Business Solutions no later than August 15th.
Expectations for James:
- Manage 2013 Bookkeeping and propose controls to establish
-Put together 2011, 2012, 2013 financial reports and create projections
-Determine current expenses that future owner should not expect to incur
-Determine competitive advantages and put together a prospectus for potential investors
-Interact with business broker to produce necessary documents and information
-One scheduled meeting/on-site visit per week to complete scheduled bookkeeping tasks and update on progress. James will block out time every Monday starting at 10 AM
-James will continue 1 day a week training after sale is completed for a maximum of 5 weeks additional time if need for $50/hour on an as needed basis by new owner/Jeremy.
Expectations for Jeremy/Sureload
- $10,000 compensation for the first $250,000 of the sale
- 10% of any amount over $250,000 the business sells for
- $1000/month draw against the $10,000 compensation
- Help with giving me necessary information and documentation for reports
- Up to 3 months of consulting if needed by owner
- Specific Outline of Duties
- Have all books up-to date within 2 weeks including accurate Profit and Loss and Balance Sheets
- Review and track receipts
- Set Budgets and Protections
- Issue Vendor and Employee
- File proper filings
- Non compete and non disclosure
- Taxes on draws are James responsibility.
- Draws will be issued at $250 per week
- James has no ownership
in Goding & Fish LLC DBA Sure Load Moving or any of Jeremy Godings business interest.