How to split profits with my biz partner?

kix2mny

kix2mny

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I plan on going into a wedding film business with a friend and I was wondering what percentage of the profit he should get. His main role is second shooter. I'll be the main shooter and do all the editing. In the early stages, I'll handle all the client meetings. Thanks in advance.  
 
I plan on going into a wedding film business with a friend and I was wondering what percentage of the profit he should get. His main role is second shooter. I'll be the main shooter and do all the editing. In the early stages, I'll handle all the client meetings. Thanks in advance.  
 
40/40 10% per going back into the company. Thats how my partner an I split per deal, then again we make a lot more than the typical photo session. Get everything on paper.
 
40/40 10% per going back into the company. Thats how my partner an I split per deal, then again we make a lot more than the typical photo session. Get everything on paper.
 
Originally Posted by VaGixxer

40/40 10% per going back into the company. Thats how my partner an I split per deal, then again we make a lot more than the typical photo session. Get everything on paper.
Click to expand...
 
Originally Posted by VaGixxer

40/40 10% per going back into the company. Thats how my partner an I split per deal, then again we make a lot more than the typical photo session. Get everything on paper.
Click to expand...
 
Originally Posted by VaGixxer

40/40 10% per going back into the company. Thats how my partner an I split per deal, then again we make a lot more than the typical photo session. Get everything on paper.
Click to expand...

40+40+10 = 80% What about the other 10% is that just left alone or set aside for taxes/bills etc?

I would do a 50/40 in your favor with the remaining 10 being reinvested in the business somehow.
 
Originally Posted by VaGixxer

40/40 10% per going back into the company. Thats how my partner an I split per deal, then again we make a lot more than the typical photo session. Get everything on paper.
Click to expand...

40+40+10 = 80% What about the other 10% is that just left alone or set aside for taxes/bills etc?

I would do a 50/40 in your favor with the remaining 10 being reinvested in the business somehow.
 
this is business. Don't mix it with friends. 75-25. don't even think otherwise, you're not a charity.
 
this is business. Don't mix it with friends. 75-25. don't even think otherwise, you're not a charity.
 
Originally Posted by justbrin26

Originally Posted by VaGixxer

40/40 10% per going back into the company. Thats how my partner an I split per deal, then again we make a lot more than the typical photo session. Get everything on paper.
Click to expand...

40+40+10 = 80% What about the other 10% is that just left alone or set aside for taxes/bills etc?

I would do a 50/40 in your favor with the remaining 10 being reinvested in the business somehow.
Click to expand...
1266050703201.jpg
 
Originally Posted by justbrin26

Originally Posted by VaGixxer

40/40 10% per going back into the company. Thats how my partner an I split per deal, then again we make a lot more than the typical photo session. Get everything on paper.
Click to expand...

40+40+10 = 80% What about the other 10% is that just left alone or set aside for taxes/bills etc?

I would do a 50/40 in your favor with the remaining 10 being reinvested in the business somehow.
Click to expand...
1266050703201.jpg
 
Some advice, dont ever go into business with a partner. NEVER. Have him as your employee, and pay him either a lump sum per shoot or hourly.
 
Some advice, dont ever go into business with a partner. NEVER. Have him as your employee, and pay him either a lump sum per shoot or hourly.
 
Originally Posted by II Jovo II

Some advice, dont ever go into business with a partner. NEVER. Have him as your employee, and pay him either a lump sum per shoot or hourly.
Click to expand...


Thought about this but it was too late. You live and learn
 
Originally Posted by II Jovo II

Some advice, dont ever go into business with a partner. NEVER. Have him as your employee, and pay him either a lump sum per shoot or hourly.
Click to expand...


Thought about this but it was too late. You live and learn
 
Asking for trouble because 1 party will eventually feel like they are getting shafted in whatever deal is initially agreed upon.
 
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