Feel free to explore the stories below!
(July 2020, Pakistan)
When tax reforms of 2020 were introduced which not only reduced the rate of Capital Gains Tax to almost a half, but also the duration for CGT exemption (from 8 to 4 years), Hamid who had recently lost his job decided to invest in real estate. Problem was, although he had some experience in property management (operation, control, maintenance, and oversight of real estate), he wasn’t very good in real estate investment (real estate strategy e.g. correctly predicting how and where prices would go up or down and making all the hard decisions accordingly to gain maximum capital gain). He had some money invested in stocks which he could cash and invest instead in property through REITs or other real estate investment options. However, these investment options wouldn’t allow him to use his property management skills, so he decided to instead enter into a partnership. His friend was a seasoned real estate investor so together they put together a deal. They agreed to invest 50/50 for 50/50 equity but agreed to split any capital gains 60/50 (Hamid getting more for his day-to-day management). To avoid potential disputes, they drew up a comprehensive agreement, detailing the tentative timeframe, (how much time it will take to renovate and sell the house), profit margin (what’s the minimum profit below which they wouldn’t sell that property), and assignment of various tasks and responsibilities. PartnershipXperts helps these kind of partnerships tremendously as the ready-made partnership agreement templates are not only too restrictive in their substance but also very unfriendly in their form due to their excessive emphasis on legalese.
(April 2020, Texas)
Joe worked at a small restaurant of Houston as a senior chef when the Covid struck. He had anticipated the fall and was not shocked when he received his layoff notice. Many restaurants were switching from dine-out to take-away model and he heard that there was an outreach program underway based on donations from Mariano’s (retailer), Sysco (wholesaler) and Allen Brothers (online retailer & wholesaler). He called up Richard, the kitchen manager of his hotel (who also happened to be his friend) to see how others were faring and to catch up on the latest news and opportunities. Among other things, they discussed how some families in their neighborhood have started homeschooling their children for good and how this is requiring parents to spend more time on their children and less in the kitchen. This gave them an idea. They decided to target similar families and provide home delivery food services. They had another mutual friend who had some entrepreneurship experience. They decide to partner with him to sort out the logistics and marketing aspects while these two chefs take care of the operations (cooking, menu making etc.) To formalize their partnership, they looked online for a partnership agreement but didn’t like the ready-made templates as they were too restrictive and jargon-laden. They couldn’t afford an attorney either.
Here, PartnershipXperts enters the picture. It sits right in the middle of expensive yet rudimentary bespoke partnership agreements and free self-drafted ones. We take the burden of drafting a good partnership agreement off the shoulders of fledgling partnerships, so they can focus on the work at hand and don’t get bogged down in the details. We not only save your time now but also prevent disputes later while ensuring a sound business strategy at the same time.
(July 2020, Pakistan)
Ahmed -a graphic designer- , Bashir -a web developer- and Kamran –a digital marketer- had graduated together and had been freelancing on Fiverr for two years until recently when they finally decided to join hands and start up their own marketing agency. This decision was prompted by two events. One, the increasing surge in demand as businesses and institutes make a move from onsite to online. Two, an entrepreneurship scheme that the government had just launched whereby youth were granted interest-free microfinance. The three friends were already overloaded and had many projects in queue. Everyday they would turn down a bid or two as they were already booked until August. On the outside, the market looked saturated but the insiders knew that the real talent was scarce and that many times a good leadership was all that was needed to resolve the digital market inefficiency. The idea of launching their own agency had been simmering in their mind for some time and was often discussed over coffee, but because they had no or insufficient savings, it was always archived and never executed. Now they had hope, and a path. But there were so many things to do and they were already working 14 hours a day. They had to plan a budget, put together a win-win deal, assign tasks, set up an office, buy and update equipment, register their company, etc, the list just goes on.
PartnershipXperts helps such start ups tremendously by drafting the most comprehensive partnership agreement online. With a 60% discount for small startups like this one, it’s probably the cheapest partnership success recipe handbook to date.
(Pakistan) When his father passed away, Ali inherited a small kitchen appliance plant at the age of 22. A fresh master’s graduate in mechanical engineering, he was determined to make the business grow. The B2B market was ruled by big players and he spotted an opportunity to instead diversify into retail by offering automatic air dispensers for homes and offices. He didn’t want to be just another distributer, or just a branding entrepreneur by purchasing white label air freshners. He wanted to get his hands dirty in manufacturing the real thing. He was aware of the high manufacturing costs and that he would never be able to compete with the economies of scale that the big players have but he wanted to give it a try and he thought he could afford any loss that may occur anyway.