Hello,
I am starting a new restaurant with my business partner. She has obtained the startup capital in the form of a personal loan from her father. We are both equally responsible for paying it back and we are both equally responsible for the work in the establishment. Additionally I am a graphics/web designer so I will be doing all of the marketing for free as well. We are trying to decide percentages right now. I would like to be 49% because she says that 51% is her lowest since the money is coming from her father. Her dad however seems to think that she should be taking a much higher percentage. Am I in the right to think that since we are both equally responsible for the loan and the work that we should be as close to equal partners as possible or should I be more flexible and take less of a percentage since we never would have had the money to do it without help from her family?
Thanks!
I am starting a new restaurant with my business partner. She has obtained the startup capital in the form of a personal loan from her father. We are both equally responsible for paying it back and we are both equally responsible for the work in the establishment. Additionally I am a graphics/web designer so I will be doing all of the marketing for free as well. We are trying to decide percentages right now. I would like to be 49% because she says that 51% is her lowest since the money is coming from her father. Her dad however seems to think that she should be taking a much higher percentage. Am I in the right to think that since we are both equally responsible for the loan and the work that we should be as close to equal partners as possible or should I be more flexible and take less of a percentage since we never would have had the money to do it without help from her family?
Thanks!
via Small-Business-Forum.net http://www.small-business-forum.net/starting-your-business/9803-llc-percentages.html
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