₦airaland Forum

musabayokanu:
Please ignore the typo-error I will be editing same.

Cases like this first thing first.
1. Who brought the business idea Billy or Sam?
2. Who has the idea and knowledge to run and grow the business other than financial and other start up?

We need to know this before we discuss Sam and Bully Profit and Equity revenue.

Let's do this way.
Assume you are Sam and you have a fish and chicken grilling business idea after working in a bar for many years.

Because you do not have money, you decide to approach a buddy of yours, explaining the details and nitty gritty of the business viz a viz capital and earning and he buys into it. He might have an idea about it but he certainly need Sam idea, knowledge, expertise and day to day presence in the business. While Billy comes around with hands in his pocket watching and cashing out like someone who put his money in MBA forex.

I won't call Sam request greed, neither will I see Billy as a wicked person. They need to work things out themselves * For me 80/20 Equity is fair since Sam don't have money,
* Profit 59/41 is also fair.
* The running cost is something Billy need to look into else Sam will inflate and use it to zap the profit and channel the money to set up his own business and abandone Billy&Sam Enterprise since his capital is just 20%.

Reccommendation
1. Let Billy employ a secretary or worker that he can have daily update of the place and provide Billys presence since Sam is feeling cheated by working alone. The worker will be Billys eye provide he/she is not compromised by Sam.
2. Install CCTV to record activities and how running cost are generated and managed.
3. From Sam's estimated short and long time revenue earning, estimated when Billy can recoop returns on his investment and profit then sign an agreement that no one pulls with that number of years add additional plus one year to ensure Sam don't wreck the business and abandone it with that period. Who ever choose to pull out forfeit business premises and cash in the bank.
4. Run a joint account and ensure are transaction are to be made with the account. Running and maintenance can be withdrawn when their is mutual agreement but profit must not be touch until the end of your financial year as agreed by both of you.

A typical Nigerian man will agree to your terms, wreck the business and open his own business.

Finally if billy can
1. 80/20 Equity is okay
2. 50/50 profit is manageable considering his input
3. Running cost should be shared 70/30 Billy/Sam, the more financially committed Sam gets the more he will be committed to grow the business.
4. The should be a time frame to re-invest some of Sam profit into the business to raise his equity to 80% of billy or refund billy 30% so when bully is presence to support the business 100% they can comfortably share 50/50 of the profit without referring to using the original equity percentage to adjust the profit in favour of Billy when Billy has understand the nitty gritty of the business which will bring disagreement
5. Lastly, their should be next of kin which will take over each others share in case anyone dies.

Advice to Billy
Because how you go into and manage joint business with people because many has been waste and sent to early grave because of revenue from joint business.

Thank you

Thanks for the advice

Good day all,
Please I need your Judgement and advice on this, cuz I know that There are entrepreneurs, business strategists and educated people on Nairaland

I will just go straight to the point cuz I’m not too good at telling stories.

Billy and Sam decided to setup a business as partners.

Out of the capital (100%) required to startup the business in their own little way after making all the necessary enquiries. Billy agreed to bring 80% of the capital while Sam brought 20% of the capital (cuz he doesn’t really have much at he moment according to him).

Since Billy is in his final year in school, he won’t be around for a very short period, Sam is to manage the business while Billy will assist him. To this end, they had an initial agreement that profits should be shared between them as 59% : 41%. (Billy gets 59% while Sam gets 41%)

While planning the business, Sam made projections that the beginning is going to be very difficult cuz they may not begin to see profits immediately and the capital will not be enough to cover the daily, weekly and monthly expenses/cost of operation of the business. That at some point, they will need to use their personal money or resources to keep the business going, till it is strong enough to carry itself.

Billy then said, that if it is going be so, the expenses should be handled by them in the ratio at which profit is shared which is 59% : 41% in any case the business cannot handle its expenses or cost of operation.

Sam disagreed and said, It’s not going to be convenient for him, that such expenses should be Handled by them in the ratio at which capital was brought and profits shared equally.
That is Sam is saying that Capital should be 80:20, Expenses 80:20, Cost of Operation 80:20 and Profits 50:50 because of his inputs.

Billy disagreed that it won’t be convenient for him to bring 80% of the capital, expenses and cost of operation but profit is 50:50. Pointing out that the reason Sam is running the show is because Himself (Billy) will not always be around for a very short period and he will also assist Sam in managing the business.

But Sam refused and threatened to back out of the whole deal. Billy then said if Sam wants it his way he should bring 50% of the capital and Expenses and Himself(Billy) will also be available for equal inputs in the business.

Right now this is an issue

Please Nairalanders please judge and give advice

NB: Billy has the capability to run the whole show himself.

Regards

Good day all,
Please I need your Judgement and advice on this, cuz I know that There are entrepreneurs, business strategists and educated people on Nairaland

I will just go straight to the point cuz I’m not too good at telling stories.

Billy and Sam decided to setup a business as partners.

Out of the capital (100%) required to startup the business in their own little way after making all the necessary enquiries. Billy agreed to bring 80% of the capital while Sam brought 20% of the capital (cuz he doesn’t really have much at he moment according to him).

Since Billy is in his final year in school, he won’t be around for a very short period, Sam is to manage the business while Billy will assist him. To this end, they had an initial agreement that profits should be shared between them as 59% : 41%. (Billy gets 59% while Sam gets 41%)

While planning the business, Sam made projections that the beginning is going to be very difficult cuz they may not begin to see profits immediately and the capital will not be enough to cover the daily, weekly and monthly expenses/cost of operation of the business. That at some point, they will need to use their personal money or resources to keep the business going, till it is strong enough to carry itself.

Billy then said, that if it is going be so, the expenses should be handled by them in the ratio at which profit is shared which is 59% : 41% in any case the business cannot handle its expenses or cost of operation.

Sam disagreed and said, It’s not going to be convenient for him, that such expenses should be Handled by them in the ratio at which capital was brought and profits shared equally.
That is Sam is saying that Capital should be 80:20, Expenses 80:20, Cost of Operation 80:20 and Profits 50:50 because of his inputs.

Billy disagreed that it won’t be convenient for him to bring 80% of the capital, expenses and cost of operation but profit is 50:50. Pointing out that the reason Sam is running the show is because Himself (Billy) will not always be around for a very short period and he will also assist Sam in managing the business.

But Sam refused and threatened to back out of the whole deal. Billy then said if Sam wants it his way he should bring 50% of the capital and Expenses and Himself(Billy) will also be available for equal inputs in the business.

Right now this is an issue

Please Nairalanders please judge and give advice

NB: Billy has the capability to run the whole show himself.

Regards

I tried to solve this but to no avail.
So fams I need ur help for examples b and c

Nice write up. its encouraging

Chai these peeps are hell bent on spoiling and destroying the reputation of GEJ, because he gets more attention these days.

as far as i m concerned GEJ is Innocent of dis rubbish they are saying until a good evidence is tendered.

make dis guy no go flop for man u o

ogbeni many Daniel aderibigbe dey fb

and Jonathan's average performance was better than all d nonsense they were saying

HungerBAD:
PDP lost this one.
Saw the result two days ago.
In my prayers and dream.

That dream is a bad one indeed

Hmmm I m beginning to think that Audu's murderer is in the APC caucus. And he was murdered so that Tinubu's anointed will become the governor.



KOgi make una no allow Tinubu play into una head o

I know say Tinubu is a bad, self centered and corrupt politician but I don't think he can kill that man. (Until proven guilty)

After all your complains,

PassingShot:
Warning: “Buhari is incompetent”

You said it urself

kahal29:
Just Saw this online:

BREAKING NEWS

Sen Godswill Akpabio begs APC

***says I rigged Election for Udom

*all election riggers shall not go free -Lai Mohammed.

November 22nd 2015 [ Our Correspondent]

Embattled former Governor of Akwa Ibom State and Senate minority leader in Lagos on Sunday November 22, 2015 knelt down before Alhaji Lai Mohammudu and with a sad facial expression begging the All Progressives Congress (APC) to forgive him of his looting of Akwa Ibom State resources under his tenure and the criminally rigging of April 11, 2015 gubernatorial election in the state in the favour of Udom Emmanuel.

Our correspondent reported that distablized Akpabio was moody and helpless at Southern Sun Hotel, Ikoyi Lagos with some members of Akwa Ibom State House of Assembly and State Exco kneeling down before Alhaji Lai Mohammed.

"We are now interested in joining APC. Tell Mr. President that Akwa Ibom State is now ready to play national politics. I regret my actions while in office as the Governor." Sen. Akpabi­o said.

However, the minister of Information assured Akpabio that APC government led by President Mohammadu Buhari shall not fail to prosecute all electoral offenders in Nigeria.He says the request for Akpabio and others to join the majority party 'll be communicated to Mr. President and APC national leadership but advised that Akpabio and others who intend to join APC should wait until all election litigations and all cases in courts instituted by Akwa Ibom State gubernatorial candidate in April 11, 2015, Mr. Umana Okon Umana and other APC candidates in the House of Assembly, House of Representatives and Senate are determined and judgement given by the Appeal and Supreme Courts respectively.

Our reporter reports that Sen. Akpabio confessed before the former APC spokesperson that he is ready to fund APC in Akwa Ibom State and announced there and them, the donation of sum of 500 million naira only when his request to join APC is granted.

When news men asked Sen. Akpabio the motive behind his planned defection, He says

"Kogi State is now an APC state.The way electon are going on in the country after the defeat of former president Goodluck Jonathan, Udom cannot win Akwa Ibom state rerun election", Akpabio said.

After the less than one hour closed door meeting, Sen. Akpabio was encourged by the information minister to put up a smile for a photograph as his request might by consider by APC national leadership.

https://m.facebook.com/photo.php?fbid=982053598502433

This ur lie is very very dubious indeed

That can never happen

juicee1:
which region's resources? Are you including SS in your mirage?

Oyel thief and land grabber.

The only thieves I sense here are

1) The govt who cart away profits made from resources. Collect the nigerian peoples money and do very little or nothing for them.

2) People like you who keep supporting these thieves even with their exposed acts and also robbing yourself and others the knowledge and truth. Shame

AmAechi, Fashola, Tinubu, Kwankwaso, obj should all be tried for their own laundering, then I will rest my case that this govt is the best in the country, if not then its another #Apcpropaganda.

Amaechi stole Money to sponsor Buhari's election.

Fashola loaned millions of dollars months before he left office and did nothing with it to improve lagos. But where is the money?

Instead they were made ministers but all the people who worked under the PDP administration are guilty of the same crime committed by these morons.

#Apcpropaganda

Buhari should stop all these ranting of Fight against Corruption because the people that brought him to power are ALL PRESENT CORRUPT set of people.

Nigerians are now wise and will resist any form of impunity and corrupt practices from this govt

The igbos have been cheated and cheated and its high someone at federal level including the President, (If he is not a propagandist) start listening to them start paying attention to that or leave the region and its resources alone.

Why won't they say this lie and Propaganda. After all govt officials can get fuel whenever they like, anytime and anyday. If only they stayed in queues to buy fuel like the innocent citizens are doing. I m not sure this person will have the nerves to say this rubbish (indirectly calling Nigerians liars)

APC bunch of hypocrites.

What they are just doing is Propaganda upon propaganda. I knew that man will still be set free even though he is guilty.

Abi who no know Saraki from Kwara

Oga I hope Fashola will read this your letter because Fashola's tenure in office was a waste of time and resources. His policies back then were mainly for the rich with little for the poor.

With the way he handled lagos, he is inexperienced to handle three important ministries merged together

.

Even if Okorocha slashes it to two he won't do anything tangible, he won't even manage it well. This man has disappointed the Igbos very well by showing how in competent he is because he is not managing the resources of that state very well. If Buhari is sincere with his anti-corruption crusade I think he should ask the EFCC to question this man

This government is gradually showing signs of irresponsibility starting from appointments to false campaign promises. Well PMB and his APC cohorts should know that Nigerians are getting smarter by the day and any nonsense from them will never be tolerated

For the past 3 months no one has said anything about those girls. I m beginning to think that there were no missing girls in the first place, all these were propaganda by the APC to get to power. Even the so called BBOG campaigners are no longer matching to Aso-rock again and they are no longer calling for the head of the president.

Premium times and sahara reporters have gone deaf on this issue. I wonder why people prefer lies to the truth these days.

Not only that he has Marginalised the south East and south-south.

As for the President, I advice him to standby his words because the Igbos will not tolerate the insults received in the past.

Nigeria government should look into this matter ensure and a fair level playing ground for the south east and south south. They are the most prosperous tribe and Region in Nigeria. Anything they want they get and they hate being belittled.

PMB should do something like a man that uses his head instead of unlawfully arresting someone for saying his mind. Afterall this seed of discord was sowed by a man from the Southwest and till today he is still celebrated

.

Its a nice write up though.

The president should indeed stop the lamenting and start implenting his campaign promises.
Stop the blame and lamenting game and start fixing things. BUHARI promised Change and for 5 months nothing tangible has been done for the ordinary people. Nigeria voted for you to take Nigeria above Africa and not to lament