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See it happen often and it makes sense to me. Have him work there a couple shifts a week to help out and have another eye there whos judgement you can be 100% sure on. Especially if he is retired, some spending money and getting out of the house a couple times a week is probably right up his alley.
Definitely a pretty frequent occurrence in my experience. Is this widespread?
My dad is retired from his day job. I have him on payroll to manage the finances/accounting on my businesses. He wasn't an accountant so he put him in classes and have a CPA on retainer. Keeps him sharp, gives him something to do, and keeps him interacting with people on a professional level.
Our family had a company with 3 divisions. One was sold to a major corporation which I ended up working for and oversaw a department which employed his services as a subcontractor. A power struggle ensued with threats and issues over money (due in part because this company didn't offer him a job when he sold it) and I ended up having to fire him without even 24 hours notice and he had a 10 year non-compete.
He had many years earlier hired both his parents and it was disasterous both professionally and personally. My brother had walked out and started his own company and eventually all of us were professional competitors in an industry heavily regulated and watched for Anti-trust violations by the Attorney General's office. So, just having dinner together was walking a fine line. We sort of did things just the opposite of what you are proposing.
It all depends on the dynamics and the personaliities of each party whether it will work or not.
It doesn't seem to be that complicated for you though and would probably work out nicely.
Last edited by Thursday007; 01-02-2012 at 03:06 AM..
Very common if you can't always make payroll. Most dads will be forgiving.
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