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Question
BIG Problem!!!!!!! Ongoing Debate!!!!!!?
I was planning on starting a website, and I planned on making big profits from it....I am fairly well at building websites, just a bit rusty. The type of website I want to build may take me six months to get it up and running. Everything was going smoothly until my friend said that we should be partners, he say he will just pay a professional web designer to build the site, which will cost roughly $5,000...But he says once the website begins to make money, we split the profits 60/40 and he is the one with the 60%, I say it should be 50/50..He says its his money so thats the way things work, I say its my ideas...and the only reason why I need him is because I want a website in the next month using a professional designer instead of me building it myself which can take much longer, How should we split the profits?!!!!!!!!! Or should I just say forget him and do it myself?!
4 months ago - 3 answers
Best Answer
Chosen by Asker
I've never seen a successful partnership that wasn't built on the 50/50 premise. $5,000 isn't enough to give up your shared control. I would continue to negotiate with him but hold the line at 50/50. He'll either see the light or you can move on without him.
by Dean
4 months ago
Asker's Rating: 
Other Answers
If you're going to get into any business arrangement - but especially one with friends or family - you have to have a business plan and a contract specifying who will invest what amount, how profits will be divided, how many hours each of you will put in, etc. EVERYTHING has to be spelled out in writing. Human beings are notorious for changing their minds or deciding they didn't agree to something.
by 65% water- 4 months ago
Was your "friend" in on this from the beginning? It sounds like you have a good idea and your friend wants to cash in. Just because he would be plunking down the money doesn't mean he should have more. You are putting in the "sweat equity", it appears it was your idea, that alone is worth it. What about just stepping back taking a deep breath and take the six months to do it "your way"
by geistlola- 4 months ago