i want to start a small firm in partnership with a civil engineer so please any body can tell me terms and conditions of this type of partnership. our office services will be only architecture design, my partner is also my student and he is persuading me to do so what will be the income distribution and what services he will be paid . he told me that income will be divided in three. i.e 30 percent for office rent and other expenses, 30 to me and 30 to you.
get a lawyer, pay them whatever they ask, and do what they tell you to do. seriously. i don't think this is the sort of thing you should be doing without proper guidance from people experienced in setting up a business. architects do not have that expertise, no matter what some here might tell you, even if they started their own business and won lots of awards.
And lol at the split. It doesn't work like that at all. Rent is fixed as are other expenses. Billing is not and varies from month to month. Add to that things like annual subscriptions for autocad, buying that new computer, desk, chair, and all the various stuff that you need. So, 30% for rent, if rent is $1k/m, means you will have to bill $3k/m... Can you? And realize that if you are only billing $3k, that means your share is $1k. After taxes, etc. that's more like $600/m. Wow! You are making a whooping $7200 annually! You made it big time!
Nov 7, 14 11:04 am ·
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architecture firm partnership
i want to start a small firm in partnership with a civil engineer so please any body can tell me terms and conditions of this type of partnership. our office services will be only architecture design, my partner is also my student and he is persuading me to do so what will be the income distribution and what services he will be paid . he told me that income will be divided in three. i.e 30 percent for office rent and other expenses, 30 to me and 30 to you.
please guide me
get a lawyer, pay them whatever they ask, and do what they tell you to do. seriously. i don't think this is the sort of thing you should be doing without proper guidance from people experienced in setting up a business. architects do not have that expertise, no matter what some here might tell you, even if they started their own business and won lots of awards.
You're also missing 10% in your calculations.
10% of zero is zero.
A partnership is like a marriage. You'd better be real comfortable with your partner before tying the knot.
And lol at the split. It doesn't work like that at all. Rent is fixed as are other expenses. Billing is not and varies from month to month. Add to that things like annual subscriptions for autocad, buying that new computer, desk, chair, and all the various stuff that you need. So, 30% for rent, if rent is $1k/m, means you will have to bill $3k/m... Can you? And realize that if you are only billing $3k, that means your share is $1k. After taxes, etc. that's more like $600/m. Wow! You are making a whooping $7200 annually! You made it big time!
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