Hi Folks! As the title says, I have expanded my business to a new country and found a local partner to work with. Due to local country regulations I need a local partner there. My business is located in the US and the product is shipped from here. Ill outline each entities responsibilities to give you a better idea of whos doing what. I was originally thinking of just splitting the profits (Me) 60/40ish (Partner), but thought it best to reach out and see what your this subreddit would suggest so I dont sell myself short or something.
My side: Purchase/Hold/Pack/Ship Products Cost of packaging materials Vendor relations Relevant export license Warehouse Costs Shipping costs
Partner side: create, pay for, and distribute advertising/marketing for local market online Local Business License Local Customer Service
Ive googled around and found lots of profit sharing options, but I want to keep this partner engaged and keep it worth their while. If it were me I would find a profit sharing option a lot less engaging than a straight percentage of the businesses profits. Its a lot cheaper and easier for me to partner with this person in their country than doing it myself. Any thoughts or suggestions please share. Thank you.
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