The business revolves around refurbishing vintage electronics, which I've been doing for the last couple years.<p>My contribution to the business:<p><pre><code> - Funding (around 10-20k in the first three months. Most likely more after)
- Sales channel from my other business (will provide enough orders for my partner to work full time, and most likely onboard an employee or two).
- Managing and training my partner on how to run the business (essentially treating him as an unskilled employee) - Hosting all the software needed (inventory management, storefront, task management, email etc)
- Technical knowledge. I am an electrical engineer, and some parts of the job require some engineering. This is however a small portion and mostly only relevant with certain refurbishments and repairs. It can be taught.
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His contribution to the business:<p><pre><code> - I expect he will work full time on the business
- He will be managing everything on the ground, looking into new products, etc.
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My expectation is to have little stress related to this business - I don't want to be harassed about operational issues once it's up and running, and of course my equity should reflect that. I will not be working full time on it. However I also want to be able to develop and implement strategies for the business, and also control over pricing for my sales channel, so I would ideally like over 50 percent ownership. Is this fair? How would you split it based on the above?<p>Another option I have is to hire him. I will be able to do this financially in 2-3 months. Should I wait until then? I want him to be motivated to cut costs and grow the business though, so I am not sure if this is appropriate.
Business doesn't sound scalable so equity doesn't really matter. Simpler the better<p>But really I'd encourage making your plan around what lifestyle you and your spouse want, and trying to come to consensus and compromise