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Business Help.?
Ok, here's the run-down. My grandma works at a consignment store called Classy Reflections. She and another lady, Barb(1), share hours. The owner, who's name is also Barb(2) does not currently work in the shop, she moved and left the shop up to Barb(1) and my grandma. Barb(2) is still the owner and the bills are in her name. Barb(2) no longer wants to own the shop, and may close it soon. My grandma wants to buy/own it, but cannot afford it. I told her to find a partner that has the money. She said that the only partner she would want would be me. haha. But the problem is i am only 13. We live in Arizona, does anyone know the laws about this kind of thing? Thanks.
3 Answers
- 1 decade agoFavorite Answer
Yes, go to the state home page on their website and look up Arizona Business Laws against Minors.
www.state.az.us
Glad to help!
- Anonymous1 decade ago
You guys, it is not about making a teen work, it's about helping her and her grandma get a business!
Well, here's an arrangement that you can suggest.
Is the shop making profits? If so, would Barb2 be interested in selling it?
If your grandma wants to buy/own the shop, tell her to have a business talk with Barb2. After negotiating the price for the shop:
- Your grandma can put a certain amount of cash down and get a loan from the bank to cover for the rest. That way, the shop can be hers.
- If she doesnt have a cash put aside or not enough, then ask Barb2 to "loan" the money. Again, depending on how much profit the shop makes, you negotiate the terms and interest rate. This can sound more interesting to Barb2 than simply closing it down.
There may be other possibilities. However, I dont know much of the owner's situation and your grandma's situation. Email me if you wish me to help you better. I work with a business consulting firm, so we deal with a lot of people in that type of situation.
Hope this helps. Take care!
