- 652
- 138
- Joined
- Feb 20, 2003
Have any of yall ever gone into business with friends, homies, girlfriends, family, etc? What was your experience?
Situation Given:
Homie A has $15k invested in a home studio and knowledgeable of the music field. Homie B...nothing. A wants to move his studio to its own space and open it to the public but wants someone to help with the rent to get started. A & B always talked about opening another studio to make money but A didn't want to spend unnecessary money when he already has a studio. A ask B if he wants to go half on the rent and help promote to bring in clients. B says yes. B knows nothing about studio equipment, recording, mixing, making beats, shooting/editing videos, bookkeeping, etc. A knows all of that.
A & B agree by handshake. Business starts booming. A is doing all of the studio work and bringing clients. B pays half the rent and brings in clients too. B doesn't like that A is pocketing most of the $$$. A starts to feel like he is being cheated after few sessions with clients that B brought in. A suspects some under the table deals going on with B after not being paid what he deserved from some sessions with B's clients. A tells B they should write a business agreement. A suggests a 90/10 split of the $$$ while B suggests a 50/50 split. B gets mad after A declines.B feels he should get half the $$$ because he's paying half the rent and bringing in business. A explains to B that he didn't invest in the equipment and has no assets, does most of the work, pays half the rent, brings in clients and basically manages & runs the business. A also tells B that the business license & lease is in his name. B doesn't like that. A then suggests a 85/15 split but B declines and feels insulted. They get into an argument. B says hes done and leaves A with the other half of the rent and finding clients on his own. Friendship ended.
Situation Given:
Homie A has $15k invested in a home studio and knowledgeable of the music field. Homie B...nothing. A wants to move his studio to its own space and open it to the public but wants someone to help with the rent to get started. A & B always talked about opening another studio to make money but A didn't want to spend unnecessary money when he already has a studio. A ask B if he wants to go half on the rent and help promote to bring in clients. B says yes. B knows nothing about studio equipment, recording, mixing, making beats, shooting/editing videos, bookkeeping, etc. A knows all of that.
A & B agree by handshake. Business starts booming. A is doing all of the studio work and bringing clients. B pays half the rent and brings in clients too. B doesn't like that A is pocketing most of the $$$. A starts to feel like he is being cheated after few sessions with clients that B brought in. A suspects some under the table deals going on with B after not being paid what he deserved from some sessions with B's clients. A tells B they should write a business agreement. A suggests a 90/10 split of the $$$ while B suggests a 50/50 split. B gets mad after A declines.B feels he should get half the $$$ because he's paying half the rent and bringing in business. A explains to B that he didn't invest in the equipment and has no assets, does most of the work, pays half the rent, brings in clients and basically manages & runs the business. A also tells B that the business license & lease is in his name. B doesn't like that. A then suggests a 85/15 split but B declines and feels insulted. They get into an argument. B says hes done and leaves A with the other half of the rent and finding clients on his own. Friendship ended.