Ok so here's a bit of a background,
I have done consulting for the guy before he agreed to pay on handshake bring me on and get a contract at the end of the month in place once his lawyer got everything in place.
At the end of the month I was told that it just didn't work out and was paid upon agreed for my services so I wasn't totally screwed; live and learn.
During the final meeting i had informed him that without me or my associates that he would not be approved for his contract.
A year later (a week ago today) i have been contacted and long behold he didn't get approved. He has asked to bring me on board but this time I want a contract in place.
So the tricky part is that, the whole business hinges on the contract and our partnership would seal the deal but he is supplying the whole capital.
So to make the numbers easy; I and four others on my team, currently make 100kaverage a year for the past 3 in our respective fields.
Essentially we are bringing in 400k sweat equity a year.
Which i know is a hard sell, so what i want to have a back heavy contingent contract that essentially gives me a small sallary for initial work (IE: 2k base +added hours for employees, which i will try and reduce by doing most of it myself), and based on being approved for the contract that we are guaranteed a percentage of the company plus salary and bonus.
A VerY important NOTE: If they get this contract, with costs amortized over 5 years, profits will be over 6 million a year.
So I was thinking something like 2k+hourly month then once approval 25%. 250k bonus. +Long Term contracts for everyone.
I feel that this would be fair as our sweat worth is easily 400k and the profits of the business is around 1million a year give or take 200k. So i think the offer is reasonable.
Some feedback would be appreciated :) Thanks
I have done consulting for the guy before he agreed to pay on handshake bring me on and get a contract at the end of the month in place once his lawyer got everything in place.
At the end of the month I was told that it just didn't work out and was paid upon agreed for my services so I wasn't totally screwed; live and learn.
During the final meeting i had informed him that without me or my associates that he would not be approved for his contract.
A year later (a week ago today) i have been contacted and long behold he didn't get approved. He has asked to bring me on board but this time I want a contract in place.
So the tricky part is that, the whole business hinges on the contract and our partnership would seal the deal but he is supplying the whole capital.
So to make the numbers easy; I and four others on my team, currently make 100kaverage a year for the past 3 in our respective fields.
Essentially we are bringing in 400k sweat equity a year.
Which i know is a hard sell, so what i want to have a back heavy contingent contract that essentially gives me a small sallary for initial work (IE: 2k base +added hours for employees, which i will try and reduce by doing most of it myself), and based on being approved for the contract that we are guaranteed a percentage of the company plus salary and bonus.
A VerY important NOTE: If they get this contract, with costs amortized over 5 years, profits will be over 6 million a year.
So I was thinking something like 2k+hourly month then once approval 25%. 250k bonus. +Long Term contracts for everyone.
I feel that this would be fair as our sweat worth is easily 400k and the profits of the business is around 1million a year give or take 200k. So i think the offer is reasonable.
Some feedback would be appreciated :) Thanks
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