Looking for partners

[CaptainMike]

Hello, it has been a while since I have posted but I am wondering if this forum/section is the best place to inquire about possible partnerships. I want to help take my business operations/IT skills from my main job (oversee more than 2MM and 6 employees in the consulting world) and expand my vending operations with someone who has a decent number of accounts in my area (50-100+ perhaps). I am turning 30 and in this for the long run and I'd rather partner with someone to build slow and steady then try to just market for new accounts on my own. It seems there are a fair amount of little guys and a few big ones...It could be more profitable long term for two or three smaller companies to combine in my opinion and perhaps strategize on a buyout down the road. All options are on the table. I have some solid items to bring to the table in return for someone who has a larger number of accounts, is reasonable, professional, and looking to grow their operations, efficiency, and make money. Full transparency:

-In business for about 3 years

-14 machines over 6 locations in 1 hour radius from my home (Maryland/Anne Arundel County)

-All machines take plastic

-All machines (Dixie Narco/Crane Bevmaxes and AMS) basically new except for 2

-All machines have eport G9's using USA Technologies and are connected to Parlevel Systems VMS

-I have one great part time employee who prekits and services locations as well as a low mileage box truck

-Revenue is about $85k annually

-Some high volume locations

I am a young professional, driven, and looking to grow. I would even be willing to assume servicing someone's route in exchange for profit sharing and an eventual buyout over time. Again, all options are on the table for me and I am open to opinions. Thank you.

 

[AZVendor]

So you're looking for someone who has worked hard to build their business to share it with you and split their profit with you and for what?  The possibility that you will cash them out sometime and make them rich?  This doesn't make sense at all.  If, instead, you're looking for someone who wants help with their business or wants out but you can't buy them out, I seriously doubt that you'll find any takers.  Why not expand your business yourself and not have to worry about a partner?  Partnerships never work out because someone is always looking for the easy money.  Partners almost never have the same goals in mind and this also applies to family member partners and spousal partners.  

It sounds to me like you are wanting to quit your day job but that you don't have the cashflow to do it.  There is no easy way to cash flow.  You either build it yourself or you buy it.  

I was kind of in your shoes many years ago with a part time route while I worked a full time job.  I eventually stepped down to part time as my vending took more time and then eventually left my job to do vending full time.  There was also a time when a competitor offered to become partners and to merge his honor snack business with my successful vending business.  I was smart and turned him down and later found out that he didn't even own his business but was rather running it for some out of state owner and stealing from the business.  It wasn't but a few months later when he abandoned the business and the owner came looking for him - out many thousands of dollars.  Don't put yourself in this position.  Do it all yourself. You'll be a better man and businessman for it.

[CaptainMike]

I never stated I wanted something for nothing. I would obviously expect profits to be split based on factors that are fair. If someone doesn't want to run day to day ops, or "mess around with technology", but has the locations it would be a good fit potentially.

Are partnerships tough, yes. Do they always fail as you state? No. I know many colleagues that have merged their interests and both sides are the better for it.

[jerrybrooksvendall]

So you're looking for someone who has worked hard to build their business to share it with you and split their profit with you and for what?  The possibility that you will cash them out sometime and make them rich?  This doesn't make sense at all.  If, instead, you're looking for someone who wants help with their business or wants out but you can't buy them out, I seriously doubt that you'll find any takers.  Why not expand your business yourself and not have to worry about a partner?  Partnerships never work out because someone is always looking for the easy money.  Partners almost never have the same goals in mind and this also applies to family member partners and spousal partners.  

It sounds to me like you are wanting to quit your day job but that you don't have the cashflow to do it.  There is no easy way to cash flow.  You either build it yourself or you buy it.  

I was kind of in your shoes many years ago with a part time route while I worked a full time job.  I eventually stepped down to part time as my vending took more time and then eventually left my job to do vending full time.  There was also a time when a competitor offered to become partners and to merge his honor snack business with my successful vending business.  I was smart and turned him down and later found out that he didn't even own his business but was rather running it for some out of state owner and stealing from the business.  It wasn't but a few months later when he abandoned the business and the owner came looking for him - out many thousands of dollars.  Don't put yourself in this position.  Do it all yourself. You'll be a better man and businessman for it.

This is why I read every word you write....e.x.p.e.r.i.e.n.c.e.!

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[jerrybrooksvendall]

With partnerships (especially families) someone always rides for free!!!

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