[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 64 KB, 500x500, axezxe.jpg [View same] [iqdb] [saucenao] [google]
9988906 No.9988906 [Reply] [Original]

A guy might want me for his new entrepreneur venture. It seems reasonably solid, I'm not selling knives door to door. The sales numbers quoted are just projections since the business has not opened yet. I'll be the only employee at first. It is a bit of a risk, but I'm pretty much a layabout so my risk isn't as big as the actual moneyman who will be putting hard dollars into this venture. I just have to show up and do the work. Heck, if it goes bankrupt, I get unemployment anyway.

So, his projected sales are 1500 a day. That's probably a good day, and he offered a 30% cut. That's 450 a day and this would be a seven day a week job. That's 13,500 a month, divided by two for safety, still making it almost seven grand. Even a third of that figure is making bank. He also offers shares in the business as a means of retaining me as an employee, I don't know alot of details about that though.

Anyway, I'm wondering what I should negotiate for in the contract as a safety. I can't really imagine getting no sales in a month, but I should be ready for anything. The employer also owns rental properties, and I would be renting from him. I don't really want to trade commission percentage for free rent, it would likely be more advantageous to just pay the rent directly than give up my percentages.

What do you guys think? Should I add a clause to the contract that says if I make less than a certain amount in the month, I get free rent or something?

>> No.9989420

>>9988906
>The employer also owns rental properties, and I would be renting from him
huge red flag right here. paints everything else in the post in a bad light. I'd do a background check and look into his previous ventures for anything fishy

>> No.9989920

>>9988906
I dont know what kind of venture he is planning, but his projections are a little high. Even if it's a legit business, do not expect this amount of money within first year or two.
Depending on the markets you will be targeting (general public vs commercial clients) think really hard about projected sales. If your market is general public, i hope there is a significant marketing budget

>> No.9989952

>>9988906
Watch out on the liabilities your assuming. Don't want your partners to leverage to the hilt and leave you with the debt.

>> No.9990005

Why would a brand-new business need an employee? Why can't he handles things himself until the business gets off the ground?