Hello all, i'm new to this forum and i hope to get help from you guys..
I'm soon starting a motorsport business that deals with car tuning, performance and all accessories. I want to know what is the fair share between me and my partner. here are the facts; all currencies in Saudi Riyals, $1 = 3.75SR
Capital: 1,100,000 SR
My cut: 600,000 SR
partner: 500,000 SR
i'm not sure if I can call him a silent partner or not, but i will tell you guys what I have done and what he will do. so far,
pre opening
My part;
* i have done all contracts with all dealers that we will franchise,
* set up location and facility setup from A-Z (equipments, tools, flooring, building, showroom, designs, furniture, etc...)
* contacting all equipment companies (lifts, etc...) (USA, Germany, Italy)
* Set up shipping contractors
* made full business plan
* found and choose employees and technicians
* found broker
* designed and set up website, emails
His part;
he will contact customs broker
basic oversee of operation of facility build
post opening
My part;
motor sport president, leading management, corporate communications(franchise)
His part:
Basic oversee of shop
responsible of employees visas + visiting oversea experts visas
so what do you guys think? what should be the fair percentage divided?
Thanks all in advance!
I'm soon starting a motorsport business that deals with car tuning, performance and all accessories. I want to know what is the fair share between me and my partner. here are the facts; all currencies in Saudi Riyals, $1 = 3.75SR
Capital: 1,100,000 SR
My cut: 600,000 SR
partner: 500,000 SR
i'm not sure if I can call him a silent partner or not, but i will tell you guys what I have done and what he will do. so far,
pre opening
My part;
* i have done all contracts with all dealers that we will franchise,
* set up location and facility setup from A-Z (equipments, tools, flooring, building, showroom, designs, furniture, etc...)
* contacting all equipment companies (lifts, etc...) (USA, Germany, Italy)
* Set up shipping contractors
* made full business plan
* found and choose employees and technicians
* found broker
* designed and set up website, emails
His part;
he will contact customs broker
basic oversee of operation of facility build
post opening
My part;
motor sport president, leading management, corporate communications(franchise)
His part:
Basic oversee of shop
responsible of employees visas + visiting oversea experts visas
so what do you guys think? what should be the fair percentage divided?
Thanks all in advance!
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