- Original Poster
- #1
Hi,
I have recently registered a vape mod company solely in my name, and I am about to start trading. The problem is, initially, I was creating it with a friend, and we were going to put in an equal amount of capital for an equal share. But, unfortunately, as I will explain below, he has done next to nothing and has not put a penny into it.
The original plan was simple, I designed the mods and ran the website, and he built the printer and manufactured the mods. Despite him working full-time, when it came to the first significant spend for the business (a 3D Printer), he claimed to have no money. Another time he said he would put in a substantial amount on the payment of his sizeable quarterly bonus, later he claimed to have received nothing. This has been a consistent pattern.
When I suggested potential roles for him (Product Tester, Finance, Marketing, Customer Relations, Tech Support, Payroll), he declined all of them, saying he wanted me to have complete control until the business was more established. When I showed him my estimated costs, he disagreed with the labour cost, saying I should do it for free. When I explained that it took a long time to sand, paint, adapt components and solder the mods, he only then offered to sand them, but after hearing he could not do them while watching TV, he stated, ‘I’m not sure I can do them to your high standard, but I’ll give it a go’. So, I ended up sanding them all myself, and he did not contact me.
In the 4-5 years I have been working on this part-time, I estimate I have put in at least a full-years worth of work. Calculating this conservative estimate at £10 per hour would equal around £20,000. I have also spent £4000-£5000. I have worked part-time in a phone shop during most of this time, so I have taken a significant hit to my earnings to do this (and another separate project).
I recently found out that he has spent thousands on PC parts and Airsoft, so he does not seem to lack disposable income. A friend suggested asking him for the £200 for the custom paint I needed because he thought he would not do it. When I asked, he said he would, but with the following strings attached:
My Contribution
I would love to hear advice on the best course of action?
I have recently registered a vape mod company solely in my name, and I am about to start trading. The problem is, initially, I was creating it with a friend, and we were going to put in an equal amount of capital for an equal share. But, unfortunately, as I will explain below, he has done next to nothing and has not put a penny into it.
The original plan was simple, I designed the mods and ran the website, and he built the printer and manufactured the mods. Despite him working full-time, when it came to the first significant spend for the business (a 3D Printer), he claimed to have no money. Another time he said he would put in a substantial amount on the payment of his sizeable quarterly bonus, later he claimed to have received nothing. This has been a consistent pattern.
When I suggested potential roles for him (Product Tester, Finance, Marketing, Customer Relations, Tech Support, Payroll), he declined all of them, saying he wanted me to have complete control until the business was more established. When I showed him my estimated costs, he disagreed with the labour cost, saying I should do it for free. When I explained that it took a long time to sand, paint, adapt components and solder the mods, he only then offered to sand them, but after hearing he could not do them while watching TV, he stated, ‘I’m not sure I can do them to your high standard, but I’ll give it a go’. So, I ended up sanding them all myself, and he did not contact me.
In the 4-5 years I have been working on this part-time, I estimate I have put in at least a full-years worth of work. Calculating this conservative estimate at £10 per hour would equal around £20,000. I have also spent £4000-£5000. I have worked part-time in a phone shop during most of this time, so I have taken a significant hit to my earnings to do this (and another separate project).
I recently found out that he has spent thousands on PC parts and Airsoft, so he does not seem to lack disposable income. A friend suggested asking him for the £200 for the custom paint I needed because he thought he would not do it. When I asked, he said he would, but with the following strings attached:
- I set up a separate personal bank account for the £200 before setting up the official business account.
- He gets a minimum 10% share of the business.
- The business widens to make Airsoft parts (me working for free all over again).
- I take no money in wages for the foreseeable future.
My Contribution
- Designed the mods
- Built the printer and enclosure
- Sourced all the parts
- Designed the customisable website (like the Nike custom trainer site)
- Created the manufacturing processes needed
- Manufactured all current Mods
- Researched the legal and business requirements
- Created the business model with pricing, profit etc
- Worked out a viable marketing strategy
- £4000-£5000
- Came up with the idea of us starting a business making 3D printed vape mods (already widely done) with an idea for an aspect of the cosmetic look
- Spoke on rare occasions when I contacted him
- Tested 3 Prototypes I posted to him (used it instead of his usual Vape)
- £0
I would love to hear advice on the best course of action?
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