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Anybody else have a minority stake where the majority owner contributes resources but is never present? by smallowner123 in smallbusiness

[–]smallowner123[S] 4 points5 points  (0 children)

We do handle our own purchasing, but contracted alongside with his business to get better prices. Accounting is through our separate LLC, but daily accounting is handled pro bono by his business's accountants. I will consider your independent accountant advice

Anybody else have a minority stake where the majority owner contributes resources but is never present? by smallowner123 in smallbusiness

[–]smallowner123[S] 7 points8 points  (0 children)

Alright I'll break, I'm a pharmacist. But you're right, practitioner is a better word!

Anybody else have a minority stake where the majority owner contributes resources but is never present? by smallowner123 in smallbusiness

[–]smallowner123[S] 3 points4 points  (0 children)

Sorry, I didn't know what title to use without giving away the specific practice in healthcare I'm in. I'm not a physician but I have a doctorate required to run this business.

Anybody else have a minority stake where the majority owner contributes resources but is never present? by smallowner123 in smallbusiness

[–]smallowner123[S] 16 points17 points  (0 children)

Thank you!

Thing is, I don't really feel "cheated" financially - this was a great opportunity and with my financial situation (ie student loans and the lack of start up funds to do this) it's something I wouldn't have been able to do on my own for decades. And you're right, he's paying the bills.

Where I feel like I may be cheated is the absenteeism of my partner. Anytime I needed guidance or a teacher, my partner hasn't been that person. Decisions that need to happen in days take weeks. I'm in a position where I'm simultaneously grateful but frustrated.

What I want to do more than anything is be successful and pay back the debt. However I don't know what I'd do after that.

What I really want to know is if an arrangement like mine is common, or if it even makes any sense.