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after partner split, legal costs, taxes etc, you will end up with only 500kCustom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000
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I was offered $50 for the last beer in my fridge once.hatisblack at yahoo.comComment
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Didnt' read but half of the thread. Just wanted to say I love all the idiots yelling to turn it down when they have no idea how much you currently make, how much it's worth, or anything else.
Oh and the non compete, everyone I've ever known to sign one just has a friend open a similar biz.Comment
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Here in the UK, you will only end up paying 10% tax if you've owned the company for 2 years and then sell. You should go see a good accountant and lawyer to retain as much as your loot as possible.
Going through something similar myself with my mainstream software company - but nowhere near as much loot.
The only downside is having to work for this company for 3 years as part of the 'earnout' deal. I'm told that's how things are normally done.. most of our money will come from share-options and cash bonuses based on a % of gross profit margins. Since they are preparing to float in 2 years those shares will hopefully be very valuable.
The reason we have to take the deal is cos we are over a barrel in a way.. we are partnered with this company and they are providing us with most of our business. They could pull the rug from under us at anytime and want to own us rather than pay us more in the long run.I don't endorse a god damn thing......
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since when property is better than growing biz? :oOriginally posted by StickyGreencome trade shemale traffic hereComment
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Forget about the money, ask yourself if this is what you wish to do or not.
If it is, keep the company and in a few years you will have a $10M company most likely.
If it is not, sooner or later you will grow tired of it, take the money now and invest them in what you really wish to do. Money invested in a company is also tax deductable.
You will only see growth in a company when you are focused on it, if it is not really what you wish to do, then when you hit some bad times it will be much harder to stay focused!I buy plugs
Skype: Due_Global
/DueComment
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Originally posted by chadglni
Well maybe you should finish reading the rest of the thread before you pop off?
HighOnAcid Wrote:
I'm sure we will because we are on a steady growth and the company will be worth much more in 5 years and another 1,825 14 hour days it will be worth much more.Comment
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Good luck mate ;)
Full Stack Webdeveloper: HTML5/CSS3, jQuery, AJAX, ElevatedX, NATS, MechBunny, WordpressComment
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Never take a first offer no matter how high.Comment
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That's some good advice right there.Originally posted by rich219inc
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ICQ 124-249-781Comment
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Yes I saw every bit of that the first time. Doesn't change a thing.Originally posted by GigoloJustinComment
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congrats thats awosme!Comment
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Is that a good deal?Comment
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Turn it down and keep working on it ;)Comment
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This sounds like a good advice,Originally posted by Pornopat
don't sell it bro.Comment
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smart man!Originally posted by StickyGreenWould you like to play a Game? - War Games, 1983Comment
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2 million bux for a print shop ?? Fuuuuck!Comment
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That's great. However, with 3 people and taxes you are not winning that much. Not to mention the non-compete, that sucks. If you see your company growing that much in 5 years, I would make them double the offer. And have someone analyze your worth....Last edited by sherie; 08-20-2005, 06:25 AM.AIM sherierocks
ICQ 127-296-286
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I don't think that's even $400k each after taxes.Comment
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If you think your company is growing fast, and it will be worth more in some years, don't give up
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If they offered you that, they will offer you more. congrats!
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I spoke with my partners and they are not interested in selling. We just put together our financials so we could buy a new building and although we didn't make the buy-out amount last year, our growth trend is definetely impressive and we will most likely beat that number very soon.
Another caveat is that they want control of our parent company although the main one they're interested in is AF. I have another mainstream site that is rapidly growing that we had planned a massive marketing campaign early next year.
We have a meeting with our financial advisors and I will certainly let everyone know my decision. As of now, I'm not selling but will continue to build what we have. It's like raising a kid until he's 12 and then selling him off. This is our baby and it will be hard just to walk away from it.
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I have a meeting today with my partners to figure out what we're going to do. I will keep everyone posted.Comment
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If I were you, I would buy out my partners and then sell the mofo in a year for 3 million ;)
DHComment
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I'd sellComment
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they just mailed you a blind offer, with no clue of what your business does in revenue or profits? sounds fishy.Comment
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That's a decent planOriginally posted by DrinkingMODeratelyComment
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No it doesn't. I had some nice Nigerian fellow contact me and offer me millions for next to nothing. The cheque should be coming any day nowOriginally posted by Translation
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dont do it
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good luck with whatever decision you makeComment
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