I want to make agreement between me and the shop owner, so what form do I need?
I want to make agreement between me and the shop owner, so what form do I need?
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Good evening, my name is Chris. I am an attorney. Although we do not have an attorney-client relationship, I am here to assist you.
You need a contract to be drafted — that is the good news. The bad news is that it is more complex than most contract templates, so the use of a local business attorney is required here.
Some points to clarify:
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What is the term of this agreement for?
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How is net profit being defined?
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Is the owner getting the other 50% of net profit?
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What rent will you be paying (if any)?
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When will net profits be calculated? Monthly? Weekly? Quarterly?
Also, are you setting up your own business entity?
Because this is his business, and you will be his employee, this would fall under an employment agreement, not a partnership.
He should ideally draft the first version of the contract, from which you can suggest changes.
I will send a template you can use within the hour. You’ll need to revise it to reflect the net profit splits and how net profits are defined.
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I want to make agreement between me and the shop owner, so what form do I need?
Lexi, Chatbot
I understand you're looking to create an agreement with the shop owner. Have you discussed the terms of this agreement with the owner?
Yes
Lexi, Chatbot
Are you looking for a formal written contract to outline the agreement between you and the shop owner?
Yes
Lexi, Chatbot
Is there anything else the Lawyer should know before I connect you? Rest assured they'll be able to help with your agreement.
No thanks
Hi. How are you doing? There is a mechanic, muffler shop, and tire shop. I need to open a mechanic shop in the same facility.
I will run the mechanic shop and the tire shop. I get 50% from the net profit of the mechanic shop and 30% from the net profit from the tire department. Nothing from the muffler.
Payroll is paid first from sales, including my pay as manager. Then profits are split:
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Mechanic: 50/50
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Tire: 30% me / 70% him
He pays all bills (electricity, water, rent, etc.) from his share. Payroll for the muffler shop is his responsibility.
This is all under his business.
I will start on April 1st.
It's his business under his lease and licenses. I don’t own anything now. So I think it's kind of an employment agreement, but I get paid hourly and also get a percentage of the profits.
He asked me to draft the contract with the terms we agreed on. If it's right, he’ll sign it.
I just want to make sure the contract protects both of us.
Chris Fried
Good evening, my name is Chris. I am an attorney. Although we do not have an attorney-client relationship, I am here to assist you.
You need a contract to be drafted — that is the good news. The bad news is that it is more complex than most contract templates, so the use of a local business attorney is required here.
Some points to clarify:
-
What is the term of this agreement for?
-
How is net profit being defined?
-
Is the owner getting the other 50% of net profit?
-
What rent will you be paying (if any)?
-
When will net profits be calculated? Monthly? Weekly? Quarterly?
Also, are you setting up your own business entity?
Because this is his business, and you will be his employee, this would fall under an employment agreement, not a partnership.
He should ideally draft the first version of the contract, from which you can suggest changes.
I will send a template you can use within the hour. You’ll need to revise it to reflect the net profit splits and how net profits are defined.
Chris Fried
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