Hello,
New to the forum. Wondering if this is the best area to get advice on a partnership agreement.
My wife and I are looking to start a home care business and I have an old business associate who's interested in investing. This third person would be completely hands off. I have no clue on how to structure the capital contributions and profit sharing.
My wife and I will be doing all the day to day and we plan to hire a sales person the first year (so we'll be carrying a salary)
Let's say the business cost $45K up front and $5K a month for the first 12 months or until we reach profitability. What should I ask for in terms of capital and ongoing expense coverage? Any ideas?
Thanks much.
New to the forum. Wondering if this is the best area to get advice on a partnership agreement.
My wife and I are looking to start a home care business and I have an old business associate who's interested in investing. This third person would be completely hands off. I have no clue on how to structure the capital contributions and profit sharing.
My wife and I will be doing all the day to day and we plan to hire a sales person the first year (so we'll be carrying a salary)
Let's say the business cost $45K up front and $5K a month for the first 12 months or until we reach profitability. What should I ask for in terms of capital and ongoing expense coverage? Any ideas?
Thanks much.
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