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LegalGround >> Opportunity to invest in sports bar/pizzeria

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2/6/11 2:30 AM
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salyer36
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Edited: 12/20/11 12:02 AM
Member Since: 11/3/02
Posts: 1722
 
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2/6/11 2:21 PM
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jbapk
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Member Since: 1/1/01
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That's kinda a rough business to get into for just 10%, there's a lot of turnover in ownership and it's a lot of man hours to get working. Just throwing it out there but a heavy cash business is also easier to steal from.

I would look over the books very closely and hire an accountant to look over them as well. Also be very clear on what exactly your 10% consists of in terms of decisions making etc.

2/11/11 1:58 PM
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Steve72
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Be very clear how and when you're getting your money from the business. Make sure the other owners can't drain all the money out (e.g., if they are owner employees, by paying themselves high salaries)
2/18/11 5:28 PM
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Cookie Monster
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Let me put it to you this way. If you are a minority owner, you don't own shit. Never again will I go into business with less than majority ownership... never. You will have next to zero (if not zero) control over decisions of any nature and if you do then its at the whim of the majority owners. 10% is very much for suckers or very hands off people. If you are hoping to play an active role in the operation of it, then forget it. The majority look at it as just enough to give you the "feeling" of ownership but without any meaningful power whatsoever. They figure if you feel like you own it you will work like a real owner.

Just my thoughts.

BTW Steve72 is correct.
2/25/11 11:15 AM
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seg
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Member Since: 3/28/05
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 Best way to make a million dollars is to start with 2 million dollars and invest in a restaurant.

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