Monday, July 11, 2011
About 2 years ago, I was asked to provide some monetary support to a family business.?
As a result, I actually became a full share partner but the that's not my problem. I have no business experience. I am a partner of a fitness center and chiropractic clinic with a mixed martial arts center to boot. Anyway, there are 6 owners total. Four of them work at the center and two, including myself are not part of the day to day operations. My problem is this: Two of the owners have an independent corporation because they perform services such as massages and physical training sessions at our facility. Both of them bill their respective clients and the center sees no monies from these ventures ie rent or a %. In addition, these same two have been approached to promote fights in the city's event center. Should these two be able to enter into something like this without any consideration for the company or the other partners? They claim the business cant afford to do it, so they had the money and think its ok. I just need some guidance on these issues.
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