13 December 2012
Dear sir, My brother is planning to open a diagnostic center with his other 2 friends. he is a radiologist. Shall he open a company or go into partnership or a way between these two LLP. Please suggest me the best option which is more preferable.????
Prithviraj Kapoor advised his son Raj Kapoor to start from the bottom in order to reach at the top.
My suggestion is neither of Partnership nor LLP nor Company but as Sole Prop.
If as Sole Prop. he can pay his other two friends the amount of profit in the shape of salaries or professional fees. After some time convert to Partnership. Continue as Partners for one or two years and gauging the future get converted to Private Limited Co.
All well known and successful business men has done this way. However, once successful then can have another new business as Private Co.
Now you and your brother are master of your own ways. Thanks.
14 December 2012
V k sir thanks alot for the advise.. But there is bit issue.. The other two friends are ready to give 70% financial assistance and they may not agree with the sole firm.. And as the amount is big we definetly need to consider them..
As there was question so I gave you my experience. The money that two friends will contribute can be termed as LOAN and interest can be paid to them.
Also I made it clear that you, your brother and two friends are master of your own way and will.
My thrust is that it is too difficult to dissolve a LLP and Private Company. It would be just like getting a divorce. And in case of Prop and Partnership it would be very easy to dissolve just as friendship is dissolved ordinary.
Mr Ayush I have bitter experiences about these topics.
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