hey guys lookin for some input on how to run a partnership 75-25. my partner just retired from the military and is the 75% owner. I am still active duty and the 25 % partner. the problem i am having is how to split profits when we work the jobs 50-50. but he does all the leg work, estimating, bids etc. i dont feel that 25 % of the profits is fair, we can do hourly pay for both of us but then what do we do with the remainder. also we started as 50-50, so should he buy me down to a 25 % . I think i getting screwed but he does do alot more leg work than me.
What you should be doing is pay yourselves for the actual hours worked. Any money left AFTER the company meets it's obligations (bills, payroll, taxes, ect..) is profits. THAT is what should be split 75-25.
This all should have been worked out at least on paper BEFORE you started.