Well I decided to go back to single op next year.

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Jon Tuck said:
so when he blows the gear up say in his third or fourth gig how will you get paid back in this deal? Also if he cant get gigs on his own you will make nothing. Im curious why you wouldnt say buy the gear within X amount of time or it returns to me. I would probably feel better in such a situation if he were to pay me out of the gear immediately.
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The moment he uses a piece of gear...is the moment he owns it.

If it blows in his face...well I guess he is stuck with payments now isn't he.


BTW...there is a time period in which he needs to pay me by. That's kinda a no brainer. There's no way I could give him a unending timeline. That would be silly of me.
 
Precisionpower said:
Soooo......Did ya sell the poor bastid the PILE Pro's or the Bose?? :tribiggrin::tribiggrin:
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That is fuuuuuuuuunnnnnnnnnyyyyyyy!yorofl:yorofl:yorofl:
 
DJ Wes said:
If I was a betting man, I'd bet this gets ugly before a year's up. I've been there and I've seen it with my own two eyes. I wish you well, but keep your guard up.
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Unfortunately, I agree. Stay tuned....
 
DJMN said:
Well...if my best friend can't be trusted in the long run....then should I really be his "best friend?"



Risk I am going to take.
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Adam,

I have said this before several times on both this site and others...........

When it comes to business you have no friends!

Always keep the two as seperate entities, when you do business with a friend he ceases to be a friend and becomes a business associate!
 
Actually Adam I have done a lot since I started djing in 1977

worked for many dj and companies
bought a dj company and worked up to 22x guys working for me
cut out the bad ones (5 or so) and then started video and photography

had a wedding center with another guy and he took all of us for a ride! (all talk no action)
the wedding center had everything to do with weddings
(cakes, djs, limos, video, photography, suit hire, flowers, bonboreirs* (*mmm I never spell that right never have) venue locations, celebrants plus a load of other people mixed in the center - of which all this all stopped in 1994

then I decided to drop back to a single op and keep an extra system just in case
the 17 left - 8x bought gear from me and went on thier own
9x left - 4x where club djs so I got them in other residence and dropped club djs
the other 4x left by themself going on to other things (stopping djing)

I have got 1x guy that I now just pass work onto when I do

so its down to me - back to where I started

but over the years I have been doing computer studies certs 1-4 , diploma, advance diploma and going on to things like mcse, mcts, mcp, mca and then few cisco courses (more to come)

and in the last 12x months I have only done a few shows that I want to do
knocked back a lot of others (especially idiots that want a $300 wedding dj)

so I know how you feel

good on you just keep it for you Adam
 
he still uses your equipment
you still get a pice of the pie
you still have to keep track of his bookings.....
(even though you don't actual BOOK the bookings)

what exactly changed?
 
Ausumm said:
he still uses your equipment
you still get a pice of the pie
you still have to keep track of his bookings.....
(even though you don't actual BOOK the bookings)

what exactly changed?
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Hmmmm...he is buying the equipment as stated in the first post in this thread.


So...

1. He will own the equipment.
2. I get to make a percentage off his bookings.



Umm. So what did change?

I guess the obvious..I have no financial risk..but yet i get to make a profit of his bookings.
 
So he is paying you cash for the gigs before he takes them? Also you will obviously have to deal with his paperwork to determine your share unless your going on the honor system. Many deals like this have ruined lifetime friendships as well as marriages. I wish you luck.Dont say folks didnt warn you though. Say he doesnt get a gig for 6 months? Will you be shooting him your overloads?
 
Jon Tuck said:
So he is paying you cash for the gigs before he takes them? Also you will obviously have to deal with his paperwork to determine your share unless your going on the honor system. Many deals like this have ruined lifetime friendships as well as marriages. I wish you luck.Dont say folks didnt warn you though. Say he doesnt get a gig for 6 months? Will you be shooting him your overloads?
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He is paying me a certain percentage of every booking. The percentage is based on the total amount of the booking....not the amount of cleared income for him.


He will definitely get the overloads. Every time he works...I get paid as well. So it is a win-win for me.

And we have been working out the details on a sheet of paper. We will go over some possible scenarios this saturday night again....and after that...once we have a solid agreement...we will type it up..and get it finalized with each others signatures.

We don't have it completely figured out...but we have a general understanding.

We both know we need to sit down again and go over some issues not discussed in earlier conversations. But of course...a person needs time to sort it all out.


And again...if he can't uphold himself to the contract...then he ain't no friend of mine. And I am willing to take that risk.
 
DJMN said:
We both know we need to sit down again and go over some issues not discussed in earlier conversations. But of course...a person needs time to .
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I'm pretty sure once this deal is done one or mabye both of you won't be able to sit down :triwink:
 
Let's say he is sucessful and let's also say he wears out the Pyle gear in a year and buys a nice new Bose setup. Do you still feel "owed" a percentage of his bookings?

You are taking a simple idea and complicating it. Sell him the gear. If you are so inclined let him make payments and even charge him interest if you feel you need to (2%/month on the declining balance is reasonable). If you book him out charge him a booking fee...let's say 20%....

But when he books himself out let him have his rewards or he won't be around long. The ones he books himself are going to get you paid sooner provided he knows what he is doing.

I've been doing this a long while Adam there's money to be made if you can book guys with thier own gear out for a fee
 
Adam I wouldnt do this extra about getting a percent of his shows unless your giving him the show itself!

then thats the only thing that needs working out

as for the gear once you sold that and he moves on (and doesnt want shows) then thats it your on your own
 
Well I am going to do it this way.


He is going to be paying me a percentage of every booking. That is our agreement.


Hate it or whatever...it works for me.
 
DJMN said:
Even when I am paid off...the deal stands as I will get a certain percentage of each and every booking he does. Not his profits....the total of the booking.
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And you have this in writing and witnessed by someone else correct? Because if not, as soon as you are paid off, you will not see a dime.
 
DJMN said:
The moment he uses a piece of gear...is the moment he owns it.

If it blows in his face...well I guess he is stuck with payments now isn't he.
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Actually, he owns it the day he makes the last payment too you and has no more obligation of debt to you. Just like when you buy a car or house, you do not "own" it under you are debt from from it. Until that time, the bank owns it. Right now, you are the bank. If the equipment is damaged, you are on the hook for it, not him.

Yes, you can take him to court for restitution, but unless you have all the paperwork done properly, you will not see a dime.
 
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