The facts:
-
For 7 months I've been worked as a freelance consultant with Bob, a guy who runs a small but successful business in Location A.
-
I never signed a contract and everything has been based on a handshake agreement to help him grow the business. This has worked well for both of us
-
At the end of this year I will be moving to Location B, a foreign city where I believe the concept could work well.
-
I have been looking into mimicking Bob's business in Location B. I think I could do it better than Bob is doing it
-
Bob is in an ongoing legal dispute with his current 50/50 business partner regarding input/output with the business
-
I do not trust Bob (see above for reasons)
-
Bob proposed I start the first international location for his company with an equity split.
-
I need $7K to start business in Location B. I do not have it.
Happy to clarify further if needed, but trying to keep it simple for the first post.
My options now are:
A) Start it on my own and find a way to raise financing (unsure if this is possible)
B) Start Foreign entity at Location by with a 49/51 equity split in his favour (he explicitly stated that less than 51 is a non-negotiable)
C) Propose a franchise relationship where I pay franchise fees, with the fees waived for the first few months and paid on credit for the first year
Bob is open to suggestions and I think might go where I push him to, but I need some help gaming out my options. Any advice appreciated.
No comments:
Write comments