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How to split revenue in a partnership

Discussion in 'Business & Tax Advice' started by kuskka, Sep 29, 2015.

  1. kuskka

    kuskka Junior Member

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    Hello everyone,

    I've started a website with a long time partner and at first we decided to do a 50/50 split. Everything we generate as revenue would be divided by two.

    But after a few weeks of work, he is not doing part of what we agreed before. Let's say I'm doing 90% of the work, while he is doing only 10%.

    So what's the best way to split the revenue generated with the website?

    Thanks for any advice.
     
  2. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Jr. VIP

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    Did you both invest an equal amount of time and money into the venture?
    The amount of money invested and the work carried out should determine the split.
    If he isn't pulling his weight then you need to renegotiate, you already quoted that you feel you are doing 90% of the work, does he agree with that?
     
  3. TheSlug

    TheSlug Jr. VIP Jr. VIP

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    This is one of the reasons I like to own 100% of my websites and when i need help with someone I just outsource it. I have a solid developer team working for me now. I always own 100% of everything but I pay them full time salaries. So the risk is also much higher. If you're already pulling 90% of the work then you might as well start this venture on your own. He may be your buddy but your success relies on you and someone else shouldn't be dragging you down.
     
  4. jkess428

    jkess428 Newbie

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    If he's going back on his word and not pulling his share your best bet is to have a meeting and talk about every responsibility each person should have and when they need to be completed by. When he doesn't do his end and it's clear use that as an excuse to take over the company. You can renegotiate the percentage, but if he's not passionate about the project and just lazy he's deadweight. I would say fire him and don't work with him again. Just because he's a friend doesn't mean he's a good business partner!
     
  5. brkseven

    brkseven Regular Member

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    Do you have control or does he? That's what's going to dictate the re-negotiations. In anycase, part ways. It's hard to find a perfect partner, usually impossible.
    Sorry bud.
     
  6. mickyfu

    mickyfu Jr. VIP Jr. VIP

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    The best thing to do is fuck him off.
     
  7. giftcode24h

    giftcode24h Newbie

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    You need renegotiate. If you don't agree you should cancel with him .
     
  8. PROSONI

    PROSONI Newbie

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    ask lawyer! ;)