In this situation, the stakeholders of the beauty salon store are Alexandra and Kellie, because they act as partners and share profits and losses. However, from the case study, Alexander benefits more than Kellie. Plumbing and electricity is already available in your unused area, so converting it into a lounge and spa would be a breeze. Adding a spa to your gym would attract new guests and keep existing guests in your facility longer. Elaganz Salon and Spa offers to rent unused land on the second floor of the RoseRock. When a business disagreement arises (what both say is rare), everyone moves to the person with the strongest opinion. And: “If one of us feels overwhelmed, we plan a time to get together, discuss the situation and find a solution. Communication is really the key,” says Dent. The space currently wasted in your facility would be perfect for our use and would bring you immediate monthly income. Common advertising becomes more effective We can share advertising and marketing costs.
Our customers will be you and vice versa. It`s the perfect partnership. Once your contracts are concluded, you need to navigate the daily ins and outs of the work environment. Communication, not personal business acquisition, are key strategies for maintaining a productive business and personal relationship. Write down the partnership agreement first. “The most important sections will be an arbitration agreement, a dissolution agreement and ownership units that will indicate each partner`s capital contribution and indicate how the profits will be distributed,” says Brownyard. “If you`re trying to maintain personal and family relationships in times of discord in the company, a well-written agreement can make a personal battle between partners a simple clerical matter between lawyers.” If your friend already runs a successful business and has asked you to come as a co-owner, make sure you are added to all long-term contracts, including the partnership contract, loan agreement, leasing and government forms such as commercial licensing. Brownyard says: “The tricky part is an assessment of the company. The value of the business may have increased or decreased since the original partners made their capital contribution. So if you cash in the same amount as other partners, you won`t necessarily have an equal share of the activity. Since a partnership is a complex issue, we always recommend that people have partnership agreements between lawyers or other lawyers that can explain more precisely the partnership issues and ensure that the partnership agreement says exactly what it has to say. By renting space at the health club to open a lounge and spa for us, your health club will earn additional revenue on currently unused land, increase benefits for your clientele and expand your membership.
RoseRock Health Club and Elaganz Salon and Spa have a unique opportunity to create a partnership that will benefit both parties immediately.