Resolved Question

What Can I do about my parents and business?

Me and my husband started our own business selling pet feeds on ebay. We then raised enough money to open a shop, then another shop and a website. In september we asked my mum and dad if they would like to go into business with us and they said yes. We opened a shop in our nearest town centre. There were a lot of arguments and it was unmanageable (never mix family and business), and I GAVE my mum and dad my 50% shares. They have now sold those shares for £6,000 to my auntie.

Their shop is about 13miles from ours but they are competing with us and trying to take our customers. I had a very close relationship with my mum and dad but now I feel like i am being stabbed in the back.

What can we do to stop them?
Please help, we are 23 yrs old and we started from nothing and it has been a very difficult journey, now I feel they are snatching it all away!!

Thanks in advance

Best Answer - Chosen by Asker

Oh my God, what a hard pill to swallow, I really dont know anyone that would do this to their own offsprings! Can you afford to undercut them? if only for a while, just cut your profit margin a bit, advertise on their patch, take a deep breath, this is war, but, on no account, give in. Good luck. Stay honest.

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Other Answers (2)

• There are lots of chimney pots in a 13 mile distance,in other words there is enough business to go round.
  Just think how many restaurants can be in a small high street, don't give up at the first hurdle ,you just have to fight .
  You did it when you built the business up you can do it again,so pull yourself out of the doldrums and give it your best shot,and remember you must have done something right to get where you are now.
  I do understand how you feel though and good luck.
• It looks like your parents are just want to money from u and they really don't care about u ,but since it's aleady happen ,and i think it's really hard to stop them now ,as they have invested ,they want to take the money back and of course earn profit too .
  
  The best way i can think of now is to improve the service of your business ,and be a good competitor ,and u know what ,even without your auntie,there would still lots of competitors outside ,just take them as one of those ,and you ll still do you best on it ,and you remember it good " don't mix business with famiily".