Hi!
I have approached an acquaintance of mine and expressed interest in buying into her baby skincare business. Its just a small business, she sells predominantly through markets and her website. No real retail stockists.
She is extremely interested in what I had to say as my background is sales and marketing. She started the business as a hobby as she has a particular interest in health, skin care, essential oils etc etc and is very knowledgeable but doesnt know the first thing about sales and marketing. If we had a partnership she would be the product developer and I would sell it.
Since she started it as a hobby she does not have an accountant and does not know what her business is worth. She wants me on board but doesnt want my money because she is scared I will be disappointed and cannot pay me a wage at the moment either.
The reason Im interested is because she makes some great products and I can see so much potential. She just had her 5th child so she has her hands full. Id really like to take it to the next level with her but not sure how to muscle my way into the business if I cant buy in.
I was thinking I could appoint myself sales and marketing manager and take a small commission from all sales until we hit a certain target. Then we'll both know if its the right thing for each other and we can look at a partnership at that point.
Does that make sense? Has anyone done anything like this?
I have approached an acquaintance of mine and expressed interest in buying into her baby skincare business. Its just a small business, she sells predominantly through markets and her website. No real retail stockists.
She is extremely interested in what I had to say as my background is sales and marketing. She started the business as a hobby as she has a particular interest in health, skin care, essential oils etc etc and is very knowledgeable but doesnt know the first thing about sales and marketing. If we had a partnership she would be the product developer and I would sell it.
Since she started it as a hobby she does not have an accountant and does not know what her business is worth. She wants me on board but doesnt want my money because she is scared I will be disappointed and cannot pay me a wage at the moment either.
The reason Im interested is because she makes some great products and I can see so much potential. She just had her 5th child so she has her hands full. Id really like to take it to the next level with her but not sure how to muscle my way into the business if I cant buy in.
I was thinking I could appoint myself sales and marketing manager and take a small commission from all sales until we hit a certain target. Then we'll both know if its the right thing for each other and we can look at a partnership at that point.
Does that make sense? Has anyone done anything like this?
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