Am I Getting A Fair Deal As The Operator With 40% Equity?

Location: Québec

Hey guys,

I’m looking for some outside perspective because the more I think about this situation, the more doubts I’m having.

So here’s the context:

I’ve been working for a property management company for about 5 years. Recently, we created a new company together (their idea), where I’m partnered with 3 owners from that company. They’re all passive shareholders.

The shareholder agreement is NOT signed yet, and that’s what’s stressing me out.

Structure right now:

- I own 40%

- The other 3 each own 20%

- Salary: $60k/year

- Truck + phone provided

My role:

- I handle EVERYTHING operational

- Prospecting new clients

- Managing clients

- Doing quotes

- Managing employees

- Working in the field full-time

Basically, I’m the one running the business day-to-day.

Projections:

- Revenue: ~$140k–$200k/year

- Net profit: maybe $30k–$50k

My concerns:

1. Since they own 60% together, they technically control decisions (like dividends, reinvestment, etc.)

2. They seem more interested in growing the company and keeping money inside rather than paying dividends

3. I’m worried I’ll be doing all the work while most of the value stays trapped in the company

4. There’s also a shotgun clause and exit conditions that could potentially force me out

Also important: I already brought up increasing my salary or adding a structured bonus, and they weren’t comfortable with it. Their response was basically:

“Don’t worry, you’ll get bonuses if there’s money left.”

That answer didn’t really reassure me.

Questions:

- Does this sound like a fair setup for someone doing 100% of the operations?

- Should I push harder for a defined bonus structure or higher salary?

- Should I negotiate a minimum dividend policy?

- Any red flags I should absolutely fix before signing?

- What would YOU change if you were in my position?

I feel like this could be a great opportunity, but also like I could get screwed long-term if I don’t structure it properly now.

Appreciate any advice ????