Question

“What is your advice for setting up a partnership in your Bartending Business?”

Answer

1. Put a CONTRACT in place!  Visit DocStoc and find a “partnership agreement” contract. Do NOT continue until you have something in writing AND signed!  I don’t care if you are best friends, this is very important!

2. You can file for a DBA or create an LLC or file for a partnership at LegalZoom.com

3. I would each agree on an EQUAL price to invest into the business initially.  (ex.  deposit $500 (each) into a business account that you both have access to)

4. As the events come in, rotate on who gets the events.  (Example: you will bartender every OTHER event) In my opinion, whoever is the actual bartender that night should get 100% of the money…BUT it is nice to put a little back into the business account (like $25-50)

5. As you build your staff: agree on a cut for those bartenders and then THAT money is put straight into the business account.  Eventually that money in the business account will start to add up and you and your partner can agree on a monthly salary that you give each other on top of bartending your events.

That is the simple, basic advice I can give you for a partnership! Remember to start with a contract in place, make sure you and your partner are on the same page from day #1!”

Hope that helps guys!  THANKS!