Need some advice on a business dealing
I spoke to a silent partner of a company im an employee of that is worth around 10m and will do 3m in profit this year.
I bring in around 40% of the gross revenue. The main owner wants to sell me at a 10m evaluation. But I spoke to one of the silent partners that owned around 27% and he has agreed to sell me around 10% at a 7m valuation and is willing to “finance” it to me at a 8% apr.
Now the thing is I only have around $25k currently that I can invest.
My current salary is $80k plus 3.5% commission of gross sales which will be around $130-50 this year. So every quarter I can pay for the equity.
The only caveat is that the main owner has to agree to this.
What do y’all advice that I do?
How can I go about drafting a legal document for something like this? How would this work?
I spoke to a silent partner of a company im an employee of that is worth around 10m and will do 3m in profit this year.
I bring in around 40% of the gross revenue. The main owner wants to sell me at a 10m evaluation. But I spoke to one of the silent partners that owned around 27% and he has agreed to sell me around 10% at a 7m valuation and is willing to “finance” it to me at a 8% apr.
Now the thing is I only have around $25k currently that I can invest.
My current salary is $80k plus 3.5% commission of gross sales which will be around $130-50 this year. So every quarter I can pay for the equity.
The only caveat is that the main owner has to agree to this.
What do y’all advice that I do?
How can I go about drafting a legal document for something like this? How would this work?