Bringing a partner into the mix?

 

Thanks for supporting our news site
by shopping our easy click ads

Bringing a partner into the mix?

Hi everyone,

So I am currently working on a business plan for a brick & mortar food service business and have been working on it for quite a while. This is a niche that is untapped in my country and the market has been growing a lot in recent years.

Now, although I have certain people helping me with certain things (events relating to the market, graphic design etc.) and such, I have no direct partner in this venture and working on it and writing a business plan alone can get tricky at times. Recently I met a guy who is connected to the market that I want to enter who had the exact idea a few years ago, and even wrote his own business plan back then. I have spoken to him a few times and he has been very vocal about his interest in joining me in this venture and has been throwing me some tips that show that he definitely has something to offer.

My question is this: How does one go about bringing in a partner into a relatively small business and how would I determine the equity etc?. Keep in mind that I might need some further investment and I would not want to end up with a small percentage of my own business, once it up and running.

Also, what should I do to protect myself in case things would not work out with this guy, business wise?

Bringing a partner into the mix?

View Reddit by ResBusinessThrowawayView Source

One Reply to “Bringing a partner into the mix?”

  1. Where/who is the money coming from?

    At this point you are both “equal” in terms of developing a concept. You have both thought about it, now where does the money come from to actually execute a proof of concept?

Comments are closed.