My girlfriend and I have been dating for over a year and will likely be married. Her father owns a successful business and will be retiring in the next couple years, he recently spoke with her about selling the business to her, but I would need to help with the purchase since I have a better job and more savings at this time. I have no experience and not a lot of interest in this type of business and currently have a successful career in another field. Although his business would be more lucrative then where I would likely end up, it would require relocation and most likely working there with my future wife which brings up other questions in itself. Do I try to find out more about this? Express no interest? Or try to continue my current career and offer to help with the purchase, even though I would not work there?
10 Responses to 'How to deal with future father in-law and possibly buying his business and having to change jobs?'
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What can it hurt if you look into it.
I might be something you will like. If not stay where your at.
But, If it is something you girl friend wants she might move to get it. ( something to keep in mind )
Do what makes you happy. If you bend drastically to please someone, there will be a lot of resentment in the future. Surely to hurt your marriage/relationship.
Don’t be pressured to do it.
If you don’t want to. don’t do it.
Family and business causes hard feelings sometimes.
I think you need to get some input from your soon to be wife and her father. Let them know your concerns and see what they say. Maybe you can come up with a solution good for everybody.
no u do nothing just remain it the same,only help him looking after his business.
I would look into all aspects of the business and make a determination if it is a worthwhile venture. Can she handle it alone? Should you not want to work there. Is there enough earning power there to provide good earnings for you and your wife? Do you get along well with future Father in Law?
If you and she don’t marry, you must make up a contract allowing for that in advance.
Whether or not you help with the purchase depends on when you plan on marrying. If you are married before your FIL retires, then offer to help your WIFE buy the business. If you are happy where you are, I see no reason you need to stop doing that. If, later down the line, you decide you like the business, then by all means, help her run it. But, I wouldn’t do anything until you tie the knot. You don’t want to be stuck out in the cold with all your cash tied up in a business you don’t have anything to do with.
Yes definitely you should find out more about this. After all it is your future. You seem to be in good relation to your future father-in-law so you could sit down with him and get the whole picture as far as your responsibilities are concerned. You say that you do not have a lot of interest in that kind of business and no experience. I honestly believe you should try to continue with your carreer. Helping with the purchase and not work there might be a good solution. There are in-laws that are very demanding and this would place you in a delicate position between your future wife and her father. And blood being thicker than water, you know where that could lead, right?
Also there is the question of relocation you should think about. You should consider all possibilities, positive and negative! There is one saying I heard many times :” you should not mix business with relatives! “. That includes the in-laws in my understanding. However, you might be passing up a good opportunity carreer wise if you are not happy with what you are doing now. Expressing an interest is good but I would not rush into a decision.
The best of luck in your decision.
You are taking a huge gamble in purchasing a business that
you have no interest in, especially if it’s within your future family.
You’ve only known your partner for a year and are opening
yourself to scrutiny and critisism for a lifetime from not only
her but her father as well.
This has disaterous repercussions on all levels if it goes
under due to inexperience and lack of passion for the
business. You could be stuck with something you never
wanted in the beginning, incur the wrath of the father for
not continuing his hard earned tradition of success, and
have the difficult problem of trying to separate love life and
business life. It just doesn’t work unless you both have
a lot of maturity and experience in business. Even then
it’s hard. You now have a successful career and can
parlay this into another related field with more financial
rewards down the road. Don’t trade in your momentum
now . Keep friends, lovers and family close and your
business far away.
Forgt about it, you like your job and am happy with it and have no interest in what he does for a living. He can always find another buyer.