Silent Partner for Watford Limo Hire

Silent Partner for Watford Limo Hire

When starting up your limo hire company in Watford, you may have realised that you didn't have the funds, the experience, the credit rating or the contacts to go it alone, so you may have gone into business with a partner. While your limo hire company has been growing and profiting, your business partner may have decided to move on to a different industry or a different area, and you are left wondering how your business will survive.

When one partner leaves a limo hire company, they will probably be bought out by the partner who stays and so the remaining partner has the limo fleet, the customers, the contacts and the operations base. But they also have a dent in their funding from buying out their partner, and another dent when they have to replace their partner with another staff member, manager or partner.

So rather than approaching the bank and taking out an overdraft, a loan or a line of credit, there is a more attractive option, another partner. But you don't want to just hand over half of your business and half of your decision making rights to a stranger who hasn't been there from the beginning do you? Well this is where businesses utilise silent partners.

Having a silent partner in your limo hire company gives you control over the day to day running of the business, as well as a cash injection from them buying into your business. Also, depending on their other interests, this new silent partner may have a whole new list of contacts which you can tap to help grow your business further. They may even be interested in becoming involved in the industry, and you then have the opportunity to slowly train and educate them about the business, and have someone there if you want to take a break, or a holiday.