Should I consider moving my existing business under another parent company with different owners?
I've partnered with a new group of individuals that own similar businesses to mine. We've partnered in order to open another location together. I was presented by them yesterday with an opportunity to place my current company under their existing parent company as an umbrella for a 50% stake in my company. I would only agree to this if a letter of intent was agreed upon for increasing my business 3x its current revenue.
My question is, is it a smart move to place my business as an umbrella company under another parent company that I don't have any ownership in? What other things do I need in place to protect my current company? Nothing has been signed or agreed upon yet, as I told them I wanted to get my head around it first. I appreciate any advice.
well, Justin! if they agreed to give you revenue 3X more than current revenue it's not that bad choice to make a contract with their company for 2-3 years and later you can use this amount to establish your own business yourself.
you've provided me with very few details.
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