The partnership agreement from Date (starting date) till date (ending date) is conducted between the following individuals,
Name 1: Patricia Dempsey
Address: East River Road, London
Name 2: Ellen Pompeo
Address: New Hamptons
Both individuals agree to abide by all the rules and regulations of the agreement which are mentioned below,
- The suitable location for a beauty salon will be decided by both partners and only that location will be selected which is agreed upon by each partner.
- The place will be rented through Ellen’s father as he deals with property and will find a place with affordable rent.
- Time duration of the salon will be decided by both partners based on the most suitable free timing for women to come to the salon.
- Different departments in the salon will be divided according to the expertise of the individual.
- Departments managed by Ellen include manicure, pedicure, waxing, plucking, and makeover.
- Departments managed by Patricia will include haircut, hair styling, party make-up, bridal make-up, and facials.
- Both partners will be allowed to hire assistance for managing their departments based on their requirements.
- The number of helpers will be decided by both partners and their pay will be discussed between partners before finalizing terms.
- Each partner will be allowed to hire their helpers to manage their departments regardless of the other partner’s involvement.
- Other tasks of the salon will be equally managed by both individuals according to their feasibility.
- Ellen will be responsible for the cleaning work surfaces, equipment required for work, and overall cleaning of the salon.
- Patricia will take upon the responsibility of paying the employees, taking care of refreshments which will be presented to the customers, and managing different suppliers of products.
- Each partner will teach their respective employees and not criticize other partners’ techniques or teaching methods.
- If a conflict occurs between partners, it will be discussed civilly without cursing or calling names.
- Issues related to the employees will be discussed by both partners and a conclusion will be agreed upon by both partners.
- All the equipment related to the salon such as blow drier, curling rod, straighteners, washbasins, trollies, bowls, brushes, and all other material will be purchased by both partners.
- Patricia’s furniture of the waiting room and waxing tables will be purchased as her father owns a furniture shop.
- Chairs for the salon and other salon furniture will be ordered by Ellen from other places.
- A discount of 15% will be given to the 5 relatives or friends of each partner per month.
- All the revenue generated by the salon will be divided among partners each month after paying the salaries of employees, paying utilities, and keeping a fixed amount aside for buying products for the salon.
- If any partner decides to leave the business, buying out will be given to other partners.
Date: _ /__ /____
Date: _ /__ / _____