Quote:
Originally Posted by 1beastnstl
Anyone ever own/run a restaurant/cafe? I have an opportunity to partner/take over daily operations of an established cafe. The owner needs to remove himself from the "front" of the business to focus on his family/children (be home more). He will be available 24/7 for questions, etc but leave minor decisions to my discretion. I have NEVER run a restaurant but have worked at a couple in the past. A bit nervous but intrigued at the same time......
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Do they want your help because you have a strong management background or experience in that industry or because they figured you could be convinced to put in $50,000 or more of your cash?
There is a difference between a partner and a general manager. I wouldn't put any money in a business like that unless they were willing to turn their 'books' over to me AND let me have them examined by an independent accountant.
Even if it is a family friend, you can't trust them without an professional audit. I have heard stories where small businesses sucker in new partners because the business is failing. The new partner isn't told that of course.
Also consider how well this business will hold up if the World Financial Markets collapse in April. I work for the man so I will lose my income if I get laid off, but as a partner/owner you might possibly lose all the capital you put in.
BTW, 'wants to spend more time with family' is a nice story and could be true BUT it is also the same thing politicans say when they quit or flee a sinking ship (white house press secretary).
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treasonous thief.