business with family

Last year my cousin and I started a landscaping business and a little more than a month ago we had a disagreement with how to split the profits. So we split and I took it as just that but my cousin got very butt hurt over it and still won't talk to me.

The disagreement was I alone invested $4600 into better equipment on a great deal and after he didn't want to split it. I offered him 30% but he was stuck on only doing it 50/50.

Sorry I just had to vent it's killing me he's acting like this

The equipment we were using last year was split up pretty evenly between the family, I even worked out a deal with one of my customers for a newer craftsmen riding mower that wasn't working,I got it working and gave it to him, he sold it two days after he got it

 

Sounds like your landscaping business has issues... Part of being a co-owner of a business means knowing how to deal with the other owner and knowing when/how to compromise. All that being said, never do business with family!

 

Won't do it again that's for sure and I tried my damndest to make it work I just couldn't justify 50/50 when when the investment wasn't 50/50. I even went to his house a few days after and talked to him for 3 hours trying to just make it civil but that didn't go anywhere

 

Not knowing the history, in his mind he could be thinking that because he wasn't behind the decision to spend the money on new equipment, he shouldn't be responsible for paying it back. I'm sure this goes deeper than what needs to be brought up on TW and not saying he's right or wrong, but just my $0.02 on what's gotten under his skin.

 

Sounds like you should have talked to him before buying the equiptment

 

I did well before, I guess I'm just a Dick/bad business person. It's all good though hopefully he will move on and we can atleast be friends /civil family again

 

Not saying you were wrong or a dickhead in this regard but it's obvious that you two didn't see eye to eye on purchasing the new equipment. Who knows, maybe you did really need new equipment and you got a smoking deal and maybe you thought it wouldn't have been that big of a deal to him. At this point, looking at it from a view of who's right and wrong won't do anyone any good. What's done is done, hopefully you two can bury the hatchet and move on!

 

Keep it 50/50 and take the money for the new equip. and it would work out to about 70/30 till he gets you paid up then split it agian.

 

thats the goal man