Looking for Business partner/s

[dophinplumbers]

Hi All

I have been let down by a family member who is a qualified plumber and has over 17 years of experience in this profession. He is working for a hotel and doing some freelance work. I always encouraged him to own his business and I will be very willing to partner with him. I am a business analyst and very business oriented guy. All I needed him to do was the plumber jobs and I will take care of the rest (business plan, branding, logo, company set up, advertising strategy and execution, all the set up of company, web site design, van branding, admin and accountancy etc etc etc).

He was very keen initially so I put a lot of effort with my wife to do all of the above, but when it came to the crunch time (to start operating and for him to give up his job), the person let me down big time.

I was gutted, but thinking about it further I think it was for the best, since I was after someone who is as committed, ambitious and motivated as I am.

I have done a lot of research and am sure of my business idea and concept. So what I am looking for is a business partner/s who have experience and qualification in the plumbing trade. It may apply to you, you might be someone who is tired of working for others and now is the time to own your business and work for yourself and own future.

My plan is to start small and on a target area and customers and then grow as per the business plan. I can lead most of the work that I have outline above, my wife who is currently off work will cover all the admin and customer service work.

Please drop me a line if you are seriously interested and would like to discuss this further. I am based in London (Camden/Islington area) and would ideally want someone who is from London, but please don’t be discouraged to contact me if you aren’t from London.

Cheers and peace

Dolphin Plumbers

 

[on31ll]

how will it work ? it doesnt need a person doing admin work and a further person working on other things to run a plumbing business ? how will the business make enough money to cover 3 wages of one plumber ?

 

[Keefy]

You mention a website but you have the domain up for sale, why is that?

 

[on31ll]

Also most people on the forum use a many different sections theres isnt much of a need to re-post the same thread in most of them

 

[mike-c]

How long will the business last when the penny drops for the plumber that he is the only one climbing ladders and crawling under floors?

The company that I work for started off in a similar manner in the early 70's. When the plumber(my stepdad) returned to his London office after refitting a factory unit in Middlesborough, he found his so called co workers drinking tea and watching dodgy cine films. It turned out he was the only person working and bringing in the money. He left them to get on with it ,moved to Scotland and added"Scotland" to the company name and kept working using the same contacts that he had built up previously.
The original set up folded 3 months later.
We are still here

 

[Howsie]

And your USP over other plumbing companies is?

 

[Keefy]

I'm guessing this family member of yours who pulled out on you at the last minute thought long and hard before deciding this whole business venture was unlikely to work. Unless you know quite a bit about being on the tools in this trade you're going to need your plumber/partner to take all the calls and go and survey jobs as well as do all the physical work. I don't mean to sound mean here, but it sounds to me as though you'd be pretty useless around the office. Maybe this is just a pipe dream for you? No pun intended.

If it works out for you I'd imagine one partner will be making easy money while the other works his socks off and that's hardly a partnership. I'd stick to what you know if I was you.

 

[secret squirrel]

I have read the original post and the subsequent replies.

All quite negative, I understand why. I do agree but perhaps not with the tone......

Maybe it could be approached from a different angle?

The OP should go out with a plumber (if he can find one willing to assist) to see what it is like, the job, difficulties, issues and pricing. Maybe do a fast track course to have an understanding of the issues, bearing in mind he doesn't want to do the work full time.

Issue is as far as I can see is if the op employs a plumber and pays him a wage with little or no knowledge then the plumber will run rings around him.

It may work and I hope it does but I think there will be some steeeeep learning curves and providing the money is there to take up the slack and mistakes it will make it.

Difficult for anyone starting on there own, leaving a job and going with a new company, very risky, thats probably why the relative didn't want to jump ship just yet.

 

[TBServices]

I have read the original post and the subsequent replies.

All quite negative, I understand why. I do agree but perhaps not with the tone......

Maybe it could be approached from a different angle?

The OP should go out with a plumber (if he can find one willing to assist) to see what it is like, the job, difficulties, issues and pricing. Maybe do a fast track course to have an understanding of the issues, bearing in mind he doesn't want to do the work full time.

Issue is as far as I can see is if the op employs a plumber and pays him a wage with little or no knowledge then the plumber will run rings around him.

It may work and I hope it does but I think there will be some steeeeep learning curves and providing the money is there to take up the slack and mistakes it will make it.

Difficult for anyone starting on there own, leaving a job and going with a new company, very risky, thats probably why the relative didn't want to jump ship just yet.

Agreed. You can't run a business with no prior knowledge of it. Last guy I encountered to do this bought a £30,000 franchise in an already established kitchen refurb company, and folded in less than 2 years, primarily because he was paying himself to lay about, a salesman and one fitter. Realistically the fitter was the only crucial element.

There isn't enough money in this game to pay 2 people if only 1 is on the tools.

 

[Ray Stafford]

The rule of thumb that I was always told was that it takes 4 or 5 on the tools to support 1 in the office/selling. Obviously there may be some variation in business models, but I would be very surprised if one on the tools could support 2 others.

 

[kay-jay]

I think that the op needs only one on the tools initially. The idea being to grow the business to a point where additional tool monkeys could be hired on as employees. The initial plumbing partner would then be able to take his share of the profits earned on the back of the employees and ultimately step back and perhaps just price jobs and project manage.

Like any venture it would be a gamble and initially only the guy on the tools would be working hard for little reward (income divided by three) while the op would still be working it is the kind of stuff he could do around other commitments.

Sent from my GT-I9100 using Tapatalk 2

 

[dophinplumbers]

Hi Mate

The website dolphinplumbers.co.uk and a few others are registered on my name so is the company name. It is not and should not be available for sale.

Cheers
Dolphin Plumber

 

[dophinplumbers]

Hi All

Thank you all for taking the time to reply to my thread, really appreciated, including those frank ones ! I didn't want to bore you with lots of info that I thought may be no so important to this thread, but since there has been lots of questions, let me provide that info:

1. My offer/partnership with the relative was that I and my wife will not take any wages at least for the first year
2. We will pay the relative a basic salary (enough to sustain him and his family) - we will also give him 100% bonus provided the company has that money to give
3. The initial investment to set up everything to be shared
4. The share of the company will be 50/50
5. All the work other than the plumber will be done by me and my wife - please note that the plan is not continue to be a 1-man (plumber) company, so there is alot of work involve to grow and develop the business

I mean I can employ someone to do the plumbing work while I do the rest, but if there isn't a sense of ownership and responsibility in a start up company it will fail, that is the reason I was/am looking for such a partner. I appreciate there is risk involved, but with no risk there is no reward unless you are very lucky and how many of us really are - we need to work for it, right?

Please feel free to advice as all views are welcome and I value them.

Regards
Dolphin Plumber

 

[Keefy]

^ Just bought it. Bargain!

Only kidding, but in all seriousness I wish you the best of luck with it.

 

[dophinplumbers]

Thanks mate!

I wont be selling the site though.

 

[PlumbBobBob]

just a little thought, your name is too similar to dolphin bathrooms which went bust. it may put potential customers off.

 

[dancinplumba]

yeah used to to work for dolpin bathrooms, real rip off merchants imo

 

[Guest123]

Your using the name Dolphin, which was the name used by the defunct Dolphin Bathrooms. Most of their customers had a very bad experience with them and even though you are not connected to them, people will associate your business with them. Did you not do a name check before setting up?

Personally I think that you'd be better off applying your services in another direction. You could start a standalone businesses marketing, strategy and consultancy company on it's own merit, without the need of being involved with another trade which you know little about. Stick to what you do best pal.

 

[PlumbersMate]

If you're skilled at branding and allthenother things you'd be doing for this business why not just set up a business offering those sorts of things?

 

[secret squirrel]

For me and its only a personal thing,

a 50/50 split is good in the beginning but I would be peeved after the first year if I was getting scrapped knuckles, cuts, then flux in the cuts!, sore knees and back lifting and carrying for 50% when the office waller was getting the same, after a while I'd say lets swap for 6 months,

But then without the sellers I wouldn't be getting scrapped knuckles (mine tend to drag on the floor a bit), is the fitter more important than the seller etc.

My god, I'm already running in circles, for me, I don't play well with others and am happy on my own bringing in people as I need them, they only need to upset me once and we go our own ways, job done, far more difficult with a partner.

What starts amicably will sooner or later deterorate into anarchy.

You only need to look at those rebel 'jocks' and our English oil.......:85:

Ltd company is the way forward.

 

[dophinplumbers]

That is a valid point, however I am the idiot that always see the cup half full! While the idea for the name had nothing to do with the Dolphin Bathrooms it could well work out to be an unintended advantage. They may have had some unsatisfied customers but I am sure they had many many satisfied ones too. People might perceive it (depending how I market it) that they are rebranding themselves and this will work for me - most of the mass marketing would have been done for me . I can be seen as a startup company that is like 1000s others out there or I could be seen as big (the old dolphin) - so I see nothing negative about it.
In reply to some of the other comments – if you can’t work with others and or rely on others to work for you then you have to work as one-man for the rest of your life, so we won’t be a good pair! The plan is that the partner will only work hands on until the business grows (and it will!), then you will not be getting your hands dirty unless you really enjoy that, let others work for you.

Cheers
DP

 

[Guest123]

You only need to look at those rebel 'jocks' and our English oil.....
Ltd company is the way forward.

What English oil is that? Until 2014, and the Scottish people decide to vote YES in our independence referendum, it remains the property of the UNITED KINGDOM, not the English. :2guns:

Squirrel's being eating too many nuts.

 

[CES]

What English oil is that? Until 2014, and the Scottish people decide to vote YES in our independence referendum, it remains the property of the UNITED KINGDOM, not the English. :2guns:

Squirrel's being eating too many nuts.

Lol, I was waiting for you to pounce there!..

 

[secret squirrel]

I cast the bait and would have been sorely disappointed if I hadn't had a nibble.....
:smug:

 

[secret squirrel]

That is a valid point, however I am the idiot that always see the cup half full! While the idea for the name had nothing to do with the Dolphin Bathrooms it could well work out to be an unintended advantage. They may have had some unsatisfied customers but I am sure they had many many satisfied ones too. People might perceive it (depending how I market it) that they are rebranding themselves and this will work for me - most of the mass marketing would have been done for me . I can be seen as a startup company that is like 1000s others out there or I could be seen as big (the old dolphin) - so I see nothing negative about it.
In reply to some of the other comments – if you can’t work with others and or rely on others to work for you then you have to work as one-man for the rest of your life, so we won’t be a good pair! The plan is that the partner will only work hands on until the business grows (and it will!), then you will not be getting your hands dirty unless you really enjoy that, let others work for you.

Cheers
DP

For me, more than happy to work on my own and bring people in, I think the vast majority of people in the building game only employ 4 people, I forget the % now, that must tell us all something!

 

[TBServices]

Agree with secret on the partnership. The company I worked previously for was a partnership, presumably they were friends at one point but now they barely speak even though the company is still plodding along. One is on the tools, the other runs the office and the other lads.

 

[dophinplumbers]

It will be the bad side of men that will make a partnership like this not work - I mean if you are a plumber strugling to find work and I do all the marketing for you to ensure there is always work, why will you not be happy and appreciate the work that I put in?

By the way, do you know how I can put an image (my company logo) as my avatar on my profile here? Sorry I am new here and can't find that fuctionality - when I do to edit avatar the option to load image is not, does it comes when I have become a trusted member etc?

Cheers

 

[AlexGas]

Say no more...

 

[dophinplumbers]

Thanks, noted, it was first time and first thread.

 

[AlexGas]

Is it your first business?

 

[dophinplumbers]

No mate, I had my own business in the UK and currently helping develop a business outside UK (in construction field), that is a partnership and working well so far. Cheers.

 

[Centralheatking]

I have read all the posts and we are often in a postion to scoop up business that
is good to unvest in.


My advice to you is do not take a partner into your business - legally its a nightmare
my mrs is a lawyer and there are so many sad storys - partners are jointly and severally
liable for each others debts - think about it - house etc

you also have to share the profits - i work hard and want the profit for me only.

Go on your own take all the responsibility on your head and make some dosh
for yourself and your own

I wish you well - centralheatking

 

[AlexGas]

All the best to you.

 

[dophinplumbers]

Thanks for your advice. The only thing is that I am not a plumber to work on my own, so one option that I am considering is to get some friends buy into the idea and invest, that way we could employ plumbers rather than partnering.

 

[Keefy]

What first attracted you to the idea of running a plumbing business?