Working for family
I’ve worked for my dad for almost 20 years doing plumbing and heating. It’s a small company, just me, dad and one other employee.
Dad is looking to retire at the end of the year. He has always said that he wants me to take over the business which I intended to do.
Well, a few months ago he hit me with a business proposal to have me buy the business from him. This was the first time he had ever mentioned me BUYING the business from him instead of taking it over.
Working for my father, I assumed he always had my best interests at heart. I assumed (foolishly) that I was being paid a fair wage and all that. Well I recently discovered that I have actually been getting paid a bit less than others in my field. Between $3-$5 an hour less than others. If this was true throughout my entire employment, that would mean $120k-$220k (rough estimate) that I was potentially underpaid. I brought this up to him and he shrugged it off and said “well how was I supposed to know”
This has got me pretty upset and has me wondering if I even want to continue working for him. He wants me to buy the business from him for $250k. I personally don’t think it is worth that much.
I have some very tough decisions to make in the near future….