How am I supposed to feel please help

[knightNshiningarmor]

I work at our family business, I am 26 and I have been working here well off and on for many years but full time for the last 4. It has been my goal to work to become a partner with my dad and see where we can take this little office supply business. This last year I have been really busting my tail to bring our sales up and currently we are up 20% from last year but we are still not really turning a profit and even last month we had to delay receiving product for one day to wait for checks to come in so we could pay our wholesalers. So working 50+ hours a week making about 30k a year, today I found out that my dad is inviting his brother out here to california to become his partner. His brother is going through a rough patch, but even so he makes more on his retirement then I think any of us make in a month but nontheless i think his brother is lost after 30 years of military and deciding he doesn't want to be in it anymore.

 

In part my dad would make him a partner, a 51% partner, so that we can qualify for a disabled veterans business but again my dad was in the process of getting qualified as well just would be a matter of about a year for my dad to have gotten his status. This could open up some opportunities but I don't know if we can support what I feel is our already bloated payroll. I feel they are doing him a dishonor because he is coming here under false knowledge, that our company is doing well and he will be able to make a good living. Which we may in time, I wouldn't still be here if i didn't see potential but I am worried that bringing him on would cause a leak bigger then what we can bail out.

 

What do I say to my father. He wants to see the positive side, thinks my concerns are just negativity but I feel no one is looking at the numbers. Not to mention my dad is a habbitual spender in just the last month I am sure he has spent 1500+ on a DnD like game he plays with some of his friends. And he can't fire anyone either If it were up to me we could possibly afford my uncle if we let go one of our drivers that currently doesn't get along well with our other employees but damn i just don't know what to do. My wife and I just had a baby 2 months ago and this is strongly making me consider looking for a new job but I doubt I would find one here as the unemployment here is already at about 18%.

[TheVP]

That's insane! Disabled vet status sure isn't worth giving away your majority ownership. And it sounds like you are getting royally screwed. What's he thinking?

[Ariel85]

Sounds like the biggest problem is your Dad.

 

If he's not going to listen to your logic and reasoning, then I would seriously look for another job.

 

Your Dad doesn't seem to really know how to run a company, and for you to continue investing your career into this seems futile as long as he's at the helm. His mentality is VERY common of small businesses I find, however. They hire family members and toss out favors over making solid business decisions. And this is why most end up failing...

 

If your sales are up 20% and you still can't turn a profit, then I seriously would bail on Dad. And, since your Dad has thrown you over as a partner in lieu of your uncle, I'd bail even quicker. Your goal of being a partner doesn't seem like it's going to happen in the near future, and at this rate, there won't be a company left for you to run.