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Looking for business partner for convenience store

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convstore
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Looking for business partner for convenience store

Postby convstore » Sun, 06 Sep 2009 12:37 pm

I am planning to set up a convenience store in the south of the island. As I am full-time employed, I do not have the time to look after its setup or the day-to-day operations.

There are tremendous business opportunities: There is no convenience store anywhere in a radius of a few kilometres (yes, there are such places in Singapore) and the heavy construction activities provide for a large flow of blue and white collar workers around and numerous condos will be completed in the next 12 months. There is lots of room for expanding the business almost immediately (small cafe, dry-cleaning etc). I am able to secure retail space at very competitive cost.

The idea is that you run the store while I provide the financing. Profits are to be shared on an equal basis.

I am looking for a young, enthusiastic person – preferably with working experience in a 7-Eleven or similar environment – who sees this as a great opportunity to start a career as an entrepreneur!

Please email me some details about yourself and your work experience to convstore.sg@gmail.com!

onlyvictor
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Postby onlyvictor » Tue, 15 Sep 2009 12:18 am

wow are you sure you want to do business with someone you BARELY know online?

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jpatokal
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Postby jpatokal » Tue, 15 Sep 2009 2:53 pm

onlyvictor wrote:wow are you sure you want to do business with someone you BARELY know online?

No, sounds to me like he's looking to hire somebody to work for him.
Vaguely heretical thoughts on travel technology at Gyrovague

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Postby onlyvictor » Tue, 15 Sep 2009 5:05 pm

but how could working as an entreprenuer be "working for him?"

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Strong Eagle
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Postby Strong Eagle » Tue, 15 Sep 2009 5:27 pm

onlyvictor wrote:but how could working as an entreprenuer be "working for him?"


Well, onlyvictor, you appear to have missed the salient sentence in the post, to whit:

"Profits are to be shared on an equal basis."

Now, I don't know what this means to you but what it means to me is that the person selected to run the store will have an opportunity to maximize his/her earning potential by maximizing profits through cost controls, upselling, and any number of other approaches to increasing revenues and controlling costs.

In other words, instead of doing nothing more than ringing the cash register and collecting a salary, this person has control over his/her earnings.

But, he or she is still working for the person making the investments.

I'd want some minimum guarantees if I were the worker bee... at least a draw up front against future profits in order to live.

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ksl
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Postby ksl » Tue, 15 Sep 2009 9:12 pm

onlyvictor wrote:wow are you sure you want to do business with someone you BARELY know online?
He's the entrepreneur and the angel investor! To get his money you need to prove yourself with experience, and have lots of references. A good opportunity for a person that doesn't have the funds, however you need to negotiate a reasonable salary, the 50/50 equal profits, should be net profit!

Getting a draw on potential profits, would never be on offer! and I suspect that a percentage of profits will be reinvested to expand the inventory, it's a great deal of work for one person, though a good offer if you have the skills and not the money to start on your own, be careful of the pitfalls, this offer is too good to be true! So i would say its an advertisement from a small venture capitalist or angel investor, that's hoping to catch you out, with the contractual issues at hand.


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