J
JuicyLime
Guest
I'm in a bit of situation where I don't quite know what to do and could do with a little feedback.
I've been working in a niche field over the last few years as a freelancer with demand for my work starting to draw offers to work internationally. As an ambitious person I started investigating setting up my own company to supply the said products/services rather than just running them for others as a freelancer.
With only one supplier in the Irish market (who has alienated many clients), there seemed to be real scope for carving out a healthy slice of the market.
I approached a potential client and have been offered about €150,000 of business for 2005 from them alone.
I then approached a UK company about hiring their product, running it in Ireland and would be looking at about €60,000 profit from that one client alone.
The UK company suggested going into partnership with me. This seemed like a good idea and I planned on keeping a controlling interest in the company.
Instead, 2 months in, they've told me that the most I can have is 1/3, they'll finance the set up (max €35,000 over 6 month trial period incl. my salary) and that the new Irish company will finance it's own product as soon as I meet the required client base to justify the relevant financing.
I'm starting to feel that all they've actually done is take the risk for 6 months set up which is looking like no risk as things are starting to really take shape.
I reluctantly agreed with their terms but haven't signed anything yet as they seem to be really, really holding off on the finalities of our partnership agreement.
I'm very much a man of my word but don't want to stubbornly commit to something long term that isn't in my best interests.
I'm wondering if I should try to re-negotiate at this stage.
Any thoughts?
I've been working in a niche field over the last few years as a freelancer with demand for my work starting to draw offers to work internationally. As an ambitious person I started investigating setting up my own company to supply the said products/services rather than just running them for others as a freelancer.
With only one supplier in the Irish market (who has alienated many clients), there seemed to be real scope for carving out a healthy slice of the market.
I approached a potential client and have been offered about €150,000 of business for 2005 from them alone.
I then approached a UK company about hiring their product, running it in Ireland and would be looking at about €60,000 profit from that one client alone.
The UK company suggested going into partnership with me. This seemed like a good idea and I planned on keeping a controlling interest in the company.
Instead, 2 months in, they've told me that the most I can have is 1/3, they'll finance the set up (max €35,000 over 6 month trial period incl. my salary) and that the new Irish company will finance it's own product as soon as I meet the required client base to justify the relevant financing.
I'm starting to feel that all they've actually done is take the risk for 6 months set up which is looking like no risk as things are starting to really take shape.
I reluctantly agreed with their terms but haven't signed anything yet as they seem to be really, really holding off on the finalities of our partnership agreement.
I'm very much a man of my word but don't want to stubbornly commit to something long term that isn't in my best interests.
I'm wondering if I should try to re-negotiate at this stage.
Any thoughts?