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ARCHITECTURAL OFFICE
New Architectural Office Opens in New England.
This a hello to:
Pat J. Slattery, Architect
Charles J. Darling, Architect
and Ray Renzoni, Architect
It is also a proposal to purchase each of your businesses....
...when you are ready to sell!
I have long respected you (pl.) and admire your style, ethic and professional ethic. I would do well to fully emulate you all (which is impossible, of course). It is my own impetuous and energetic style that would have to overlay it.
Initially, Pat Slattery or perhaps Patricia Renzoni could keep the books and disperse expenditures to consultants, printing and payroll.
She is an accountant and as equal partners, each of you would be able to provide her and she you with any and all information.
Charles could handle residential design....
Patrick could handle commercial design....
and
Ray Renzoni could handle other and multiple tasks...
New work would get a finders fee
Existing or continuing clients should be handled similarly or become a part of the general fund.
Each partner of which there would be only 3 initially would get an equal share in the profits. Theoretically this would be somewhere at a level where it is now, for each.
Thomas W. Toland, Architect (unlicensed, unregistered) is a member of NCARB and did pass the ARE in 1989, in the state of Maine.
NCARB will reinstate Thomas W. Toland with a little help from Alan Baldwin of Freeman White Architects and Planners and a closer review of all Thomas W. Toland's experience in hours on the form submitted through the state of Maine and to NCARB. They currently show 3 months less than the critical threshold required for automatic approval.
The remainder of the details or modifications to the above should be submitted by you each individually by email or directly on this website.
I as draftsman couold work from anywhere and produce the drawings by electronic or hand drawing. My objective would to be get into New England soon and work from an Acton, Lexington or perhaps a Quincy location.
Patrick Slattery: I heard your message... and there is 'no way' (what you propose) is going to happen. I had requested that each of the 3 of you set me up with a domocile and I would work off the rent and hopfully gain access to a small paycheck.
What Patrick did not hear was that IF you collectivly paid me say $30 per hour for drafting (Hey, I am an architect and was registered with 30+ years of experience).
Before I receive that money,
Pat would take out 25%(+/-) for
all automatic decuctions to include FDIC, State Income Tax, Unemployement Inurance and health insurance... leaving about
what...
_$__900.00 net weekly income
from my
_$1,200.00 (gross income)
_$900.00 Net Income weekly....
or on a monthly basis....(times 4.3)
_$3,780.00 per month (after taxes)
my expenses after taxes would be:
-1- Rent ($200 weeekly, $800 per month)
-2- Auto Insurance ($15 weekly, $60 per month, $750 per year)
and
-3- Living Expenses ($620.00 - food, clothing, savings and expendables)
the remaining would be payable to the business
for its purchase and
put in escrol until I become
registered in Massachusetts and CAN
legitamately become a partner.
-4- Payment for business purchase, should be the balance
$2,500 monthly after taxes
.$3,780.00 net after taxes
-$__800.00 housing
-$___60.00 auto insurance
-$__620.00 living expenses
balancing to
remaining would be $2,400.00 a month extra divided by three this would be what $800.00 per month you would each receive toward the purchase of your individual business!
What needs to be computed is the value of your business individually and/or (more realistically) collectively. Say that each is worth 1.5 times the yearly net income.
Each of your net averages is say $80,000 or income yearly.
Then I would be entitled to....
times 1.5 = $120,000 that is if you all stay with me for 5 years,
otherwise it might be less. An appraisal is in order, no doubt.
$120000/$800 = 150 payments each at $800 per month by me...
that will take 12.5 years
- so that will not work well for me..
your new partner..
I need to do it in less time or get another co partner to help make payments or if you paid my $60.00 per hour on paper that would
mean I could get out from under in 6.25 years.
The better way is just to factor down the the selling price
assuming the appraiser can justify this...
or we basis it on a net each of $40K each then maybe it works out to 6.25 years. My hope still would be for 2-4 years, until the consortium becomes mine alone.
I would then be obligated to pay you three a finders fee and design input as an independent contractor on a 1099...etc.
You could leave anytime you wanted (subject to price)
and some kind of no compete clause then...
but I would hope you would contine to 'feed me' work when you are in your 80s and 90s if you want for increased profit sharing and commissions for new work and/or existing clients.
So give me some feed back at incoming@xmg.com
Thanks - TT on 13 Friday, August 2004
Upon viewing, please log into guest book;
and add something to this dialog and discuss HOW...
I might achieve this goal!
Thomas Toland
Send E-Mail to: thomastoland@lycos.com
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