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$$$

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Some months ago, my cousin started a business. He equipped an office fully, registered a company and began business. The business did not do well. I visited the office and liked what he had done, but I believed that I could successfully run a different business on the same premises using the same equipment with minimal changes except business type. Instead of closing down, we agreed that he I would continue running the office for 4 more months at my own cost to try my business idea. If I succeeded, I would buy the furniture etc from him (at an agreed price) and continue doing business. If it failed, he would proceed to close exactly as he had planned. I saw it as a low risk opportunity to try a new business without having to invest much only rent and the salary of one employee. The problem is, 4 months down the line, my business worked well and I approached him with the money exactly as agreed. He occasionally visits me at the office and he can see that it is busy. He told me that he has no intentions of selling but wants his space back and the space is still under his name. My business idea is easy to implement and I did not buy any new equipment so he literally owns everything. I heard from my sources that he plans to continue running an identical business just under a different name. There is no vacancy nearby and I might lose clients if I shift because the location is perfect. What would you do?
 
$$$ said:
Some months ago, my cousin started a business. He equipped an office fully, registered a company and began business. The business did not do well. I visited the office and liked what he had done, but I believed that I could successfully run a different business on the same premises using the same equipment with minimal changes except business type. Instead of closing down, we agreed that he I would continue running the office for 4 more months at my own cost to try my business idea. If I succeeded, I would buy the furniture etc from him (at an agreed price) and continue doing business. If it failed, he would proceed to close exactly as he had planned. I saw it as a low risk opportunity to try a new business without having to invest much only rent and the salary of one employee. The problem is, 4 months down the line, my business worked well and I approached him with the money exactly as agreed. He occasionally visits me at the office and he can see that it is busy. He told me that he has no intentions of selling but wants his space back and the space is still under his name. My business idea is easy to implement and I did not buy any new equipment so he literally owns everything. I heard from my sources that he plans to continue running an identical business just under a different name. There is no vacancy nearby and I might lose clients if I shift because the location is perfect. What would you do?
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There is a big difference between the idea and the actual implementation. Let him run it and wait see what happens. Open another location with the money you have, you can always get new clients
 
Field Marshal said:
Hapa there is very little lee-way. As long as the premises are registered to him and the equipment is his you have to vacate.

Chalk it up as a life experience. Next time put all agreements to pen and paper.
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I also think that I am cornered. We agreed in the presence of my other cousin who actually told me about his plans to continue the business under a different name. I think I'm screwed legally. Initially, it was a win-win because I would get to test a business idea with very little capital down, and if it succeeded, he would exit a failed business at a good price because I was to pay him in full i.e what it cost him to set up the office and equipment. Now he doesn't want the payment.
 
$$$ said:
I also think that I am cornered. We agreed in the presence of my other cousin who actually told me about his plans to continue the business under a different name. I think I'm screwed legally. Initially, it was a win-win because I would get to test a business idea with very little capital down, and if it succeeded, he would exit a failed business at a good price because I was to pay him in full i.e what it cost him to set up the office and equipment. Now he doesn't want the payment.
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Wacha tu iende. But karma is a bitch - kuna siku atakutafuta akukose. Kwanza since you are relas................just let it go queitly BUT DON"T FORGIVE OR FORGET!
 
$$$ said:
Some months ago, my cousin started a business. He equipped an office fully, registered a company and began business. The business did not do well. I visited the office and liked what he had done, but I believed that I could successfully run a different business on the same premises using the same equipment with minimal changes except business type. Instead of closing down, we agreed that he I would continue running the office for 4 more months at my own cost to try my business idea. If I succeeded, I would buy the furniture etc from him (at an agreed price) and continue doing business. If it failed, he would proceed to close exactly as he had planned. I saw it as a low risk opportunity to try a new business without having to invest much only rent and the salary of one employee. The problem is, 4 months down the line, my business worked well and I approached him with the money exactly as agreed. He occasionally visits me at the office and he can see that it is busy. He told me that he has no intentions of selling but wants his space back and the space is still under his name. My business idea is easy to implement and I did not buy any new equipment so he literally owns everything. I heard from my sources that he plans to continue running an identical business just under a different name. There is no vacancy nearby and I might lose clients if I shift because the location is perfect. What would you do?
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Family and business do not mix.

You'll have to cede the premises to him or it becomes a family affair. I predict that he'll promptly run it down because he lacks the intrinsic acumen to make it what it became in your hands. Humbly seek a new location and learn the lesson.
 
Mimi hata kama we are agreeing on a simple thing I pen it down..... I learnt this from the lawyers am surrounded with. It doesnt matter whether we are friends,lovers or family.
Wanadamu viumbe vya kustaajabisha.

Just let it go.....you can put up your business elsewhere and you might be surprised it'll do even better. Life's a lesson itself.
 
$$$ said:
Some months ago, my cousin started a business. He equipped an office fully, registered a company and began business. The business did not do well. I visited the office and liked what he had done, but I believed that I could successfully run a different business on the same premises using the same equipment with minimal changes except business type. Instead of closing down, we agreed that he I would continue running the office for 4 more months at my own cost to try my business idea. If I succeeded, I would buy the furniture etc from him (at an agreed price) and continue doing business. If it failed, he would proceed to close exactly as he had planned. I saw it as a low risk opportunity to try a new business without having to invest much only rent and the salary of one employee. The problem is, 4 months down the line, my business worked well and I approached him with the money exactly as agreed. He occasionally visits me at the office and he can see that it is busy. He told me that he has no intentions of selling but wants his space back and the space is still under his name. My business idea is easy to implement and I did not buy any new equipment so he literally owns everything. I heard from my sources that he plans to continue running an identical business just under a different name. There is no vacancy nearby and I might lose clients if I shift because the location is perfect. What would you do?
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During such times, it matters the kind of relationship you have built with your clients over time. If it was near-personal and you have their numbers and such, you could still retain a good percentage of the clients as you move to a new location.The fact that you did not specify the kind of business limits my scope of suggestions. However, what I know is that you can always find your way around such obstacles as long as you have mastered the market. Try coming up with a radical solution. If the business involves sales, you could go an extra mile to deliver the goods to clients in person. The same applies for services. In short, be prepared to do more to help your clients adjust to the new situation.
 
Makosa ulifanya is you did not include any written agreements between you. Haijalishi kama ni family, hao ndio the worst. Atakufanya vile anafanya na anajua hakuna mahali utampeleka.

Muondokee na upite na huyo employee, muwachie furniture na premises.
 
We're living in an age where a gentleman's agreement isn't tenable.....put pen to paper on any deal for avoidance of any shenanigans....pia mimi nimenyoroshwa close to half a million but I have no legal redress....
 
this is what I think you should do, take your money and start a new place while still in the old premises. Inform your clients of ur intended move, in 2 months mwachie ofisi yake na usonge.
 
$$$ said:
Some months ago, my cousin started a business. He equipped an office fully, registered a company and began business. The business did not do well. I visited the office and liked what he had done, but I believed that I could successfully run a different business on the same premises using the same equipment with minimal changes except business type. Instead of closing down, we agreed that he I would continue running the office for 4 more months at my own cost to try my business idea. If I succeeded, I would buy the furniture etc from him (at an agreed price) and continue doing business. If it failed, he would proceed to close exactly as he had planned. I saw it as a low risk opportunity to try a new business without having to invest much only rent and the salary of one employee. The problem is, 4 months down the line, my business worked well and I approached him with the money exactly as agreed. He occasionally visits me at the office and he can see that it is busy. He told me that he has no intentions of selling but wants his space back and the space is still under his name. My business idea is easy to implement and I did not buy any new equipment so he literally owns everything. I heard from my sources that he plans to continue running an identical business just under a different name. There is no vacancy nearby and I might lose clients if I shift because the location is perfect. What would you do?
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Of men get lost in many places. Hapa ni kuhama tu. Start at a different location, wateja watakuja. It’s about how you do what you do.
 
Biggest mistake, involving family in business. Second one is failing to have a legal agreement outlining the terms of your association with the leech of a cousin you have.
 
If you've done it once, you can do it again. No biggie here.

Also, If you built your product/ service around consistent quality, your clients will follow you to your new location.
 
Do this, look for a house just near that place and open a similar business. Inform all your current customers that you are moving to the new place and they will all follow you there. Atabaki na nyumba tupu.
 
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