Hello guys. How are you? Would like your opinion on this deal I have been considering.
My family and I own a pretty succesful business in Europe. They have been doing this for over 20 years so they know the business.
Lately, we have been considering expanding. At first, we wanted to set up more brick and mortar stores. But, I met an investor and told him what he thought about the business and he loved it. He suggested that we start to sell our products through an ecommerce website in the US. Much bigger market and opportunity. He built us a custom ecommerce website which still isnt live. It is almost finished just need to buy new products for it (the ones there are ours from the store) and finish the deal with him. If we were to do it, we would be 50/50 partners. We would sign an agreement, instead of filing a new business entity in which his parent company would pay taxes, etc and they would pay us 50% royalties so that we can save taxes from that 50%. He would do all the administration and accounting plus managing the website. And we would provide business expertise, product knowledge and suppliers.
Would you take this deal and give up 50% of the profits? Also, he said that he wont put any money for inventory at first as he already invested 20000 for the website. Ultimately, without him I dont know if we would be able to do it.
My family and I own a pretty succesful business in Europe. They have been doing this for over 20 years so they know the business.
Lately, we have been considering expanding. At first, we wanted to set up more brick and mortar stores. But, I met an investor and told him what he thought about the business and he loved it. He suggested that we start to sell our products through an ecommerce website in the US. Much bigger market and opportunity. He built us a custom ecommerce website which still isnt live. It is almost finished just need to buy new products for it (the ones there are ours from the store) and finish the deal with him. If we were to do it, we would be 50/50 partners. We would sign an agreement, instead of filing a new business entity in which his parent company would pay taxes, etc and they would pay us 50% royalties so that we can save taxes from that 50%. He would do all the administration and accounting plus managing the website. And we would provide business expertise, product knowledge and suppliers.
Would you take this deal and give up 50% of the profits? Also, he said that he wont put any money for inventory at first as he already invested 20000 for the website. Ultimately, without him I dont know if we would be able to do it.
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