22 {{ upvoteCount | shortNum }}
22 {{ upvoteCount | shortNum }}

I am partnering up with Friend want to find out what split is fair

by Andre Slater
18 replies
I have a friend who is an artist. I talked with him about combining our talents to make some money online. I want to create t-shirts online and sell them. I will pay the money for advertising and marketing and any website design, videos, or any other marketing necessary...

I want to keep it easy for him, because I know he is doing things in his life. I just want him to provide the art that is necessary to complete the shirts.

I was wanting to go through 1 source for shirts so he can check sales at the same time and design if he has ideas.

I want to split 50/50

I wanted you guy's input...
#fair #find #friend #partnering #split #tshirts
  • Profile picture of the author Joe Crosbie
    Hey!

    How much work would you say is he required to do on a weekly basis?

    - Joe Crosbie,
    Signature
    I chose entrepreneurship over further education despite being laughed at by my friends and family..

    I recently hit the "RESTART" button on my life, read my personal blog to find out how I did it :)
    {{ DiscussionBoard.errors[8949113].message }}
    • Profile picture of the author Andre Slater
      Originally Posted by Joe Crosbie View Post

      Hey!

      How much work would you say is he required to do on a weekly basis?

      - Joe Crosbie,
      Not sure this would be new for the both of us. I do internet marketing, but have not got into the tshirt game. I know people are killing in with tshirts and FB. I can do all of that, except I need his art.

      I am not looking at how much time he put's in I am looking more at he providing art which he would know how to copyright and we start working making shirts.

      We might have create 5 a month or we might create 20 a month not sure yet.

      I will discuss what I need or we converse about any ideas he has and he provides sketches and I do the designs and we split... That is what I was thinking
      Signature
      -=My Personal Blog=-
      {{ DiscussionBoard.errors[8949139].message }}
  • Profile picture of the author talfighel
    Andre,

    It is your time and money plus his art skills.

    Why not go with 60/40. 60 for you and 40 for him.

    If you are only getting his art idea and nothing else, that would be a good number for both of you.

    Unless he agrees to put some money for ads and you split the costs 50/50, only then should you go with 50/50 for the revenue.
    Signature

    ---> [URGENT] Here's How To Build Wealth With Gold And
    Silver And Earn Up To $7,000 Per Week!

    {{ DiscussionBoard.errors[8949150].message }}
    • Profile picture of the author Joe Crosbie
      Originally Posted by talfighel View Post

      Andre,

      It is your time and money plus his art skills.

      Why not go with 60/40. 60 for you and 40 for him.

      If you are only getting his art idea and nothing else, that would be a good number for both of you.

      Unless he agrees to put some money for ads and you split the costs 50/50, only then should you go with 50/50 for the revenue.
      I personally agree with this.. The reason I was asking for how much time you thought he would be putting into the business was to just make sure he wasn't going to be spending more time on it than you are going to be.

      I'd say 60/40 is a reasonable split.

      -Joe Crosbie,
      Signature
      I chose entrepreneurship over further education despite being laughed at by my friends and family..

      I recently hit the "RESTART" button on my life, read my personal blog to find out how I did it :)
      {{ DiscussionBoard.errors[8949300].message }}
  • Profile picture of the author MarketingBees
    Perhaps it would be worth paying outright per design and you keep the profits seeing as you're the one doing MOST (I would say) of the work.

    Got to be honest, 50/50 and even 60/40 seems steep on his part. His effort is a one time thing. He produces the art and that's it, done (not saying that's easy but it's a one time job).

    Now you have to continually work to pull in the sales and your work is ongoing.

    I know he may product multiple art pieces but there's going to be a limit to how many designs you will be selling, especially initially.

    After a quick Google, it seems like artists earn between 5 and 15% in royalties when they provide art so I'd look, AT MOST, doing 85% for you and 15% for him.

    Personally I think it comes down to time.

    Work out how much time you would spend a month working on the project (let's go with 200hrs a month), and how many would the artist spend a month (let's go with 20hrs).

    So you're working 10x as hard and therefore, in theory, should get 10x the amount in earnings.

    Sorry for waffling but I hope that helps somewhat.
    Signature
    {{ DiscussionBoard.errors[8949219].message }}
    • Profile picture of the author Andre Slater
      Originally Posted by MarketingBees View Post

      Perhaps it would be worth paying outright per design and you keep the profits seeing as you're the one doing MOST (I would say) of the work.

      Got to be honest, 50/50 and even 60/40 seems steep on his part. His effort is a one time thing. He produces the art and that's it, done (not saying that's easy but it's a one time job).

      Now you have to continually work to pull in the sales and your work is ongoing.

      I know he may product multiple art pieces but there's going to be a limit to how many designs you will be selling, especially initially.

      After a quick Google, it seems like artists earn between 5 and 15% in royalties when they provide art so I'd look, AT MOST, doing 85% for you and 15% for him.

      Personally I think it comes down to time.

      Work out how much time you would spend a month working on the project (let's go with 200hrs a month), and how many would the artist spend a month (let's go with 20hrs).

      So you're working 10x as hard and therefore, in theory, should get 10x the amount in earnings.

      Sorry for waffling but I hope that helps somewhat.
      The hard part is I grew up with this guy went to high school with him, one of my best friends.

      I am ultra hungry and would go full speed with this... I just think about it from his side that if he saw his designs everywhere and I was getting rich and he only got a small percentage.

      If I didn't know him it would be no issue I would try to buy the art and rights to it dirt cheap and sell like crazy, but with him I would feel bad.

      He is the best artist I have seen in life period and I can draw pretty good.

      So I may go 60/40

      Thanks guys for all your input
      Signature
      -=My Personal Blog=-
      {{ DiscussionBoard.errors[8949342].message }}
      • Profile picture of the author 4DayWeekend
        If you're confident that you can market his designs why not just pay him per design? That way, you're the business owner and you're paying for his work. Everyone is happy.

        The fact that you want a partnership suggests to me that you're not 100% sure that you're going to run a profit with this thing. In which case, you're asking him to take a risk that he might put time in with no reward, and IMO that risk is worth a 50/50 split.

        I've spent some time in clothing with my own online store and as a blogger. If you're creating a brand, FB ads isn't the best way of marketing. FB ads only really work if you're targeting a niche such as creating shirts about movies or tv... The fact you require an artist suggests you're creating brand shirts that just look good. FB Ads will not cut it for that, you're better off getting a celeb to wear the brand and then it gets blogged.
        Signature
        {{ DiscussionBoard.errors[8949480].message }}
      • Profile picture of the author MarketingBees
        Originally Posted by Andre Slater View Post

        The hard part is I grew up with this guy went to high school with him, one of my best friends.

        I am ultra hungry and would go full speed with this... I just think about it from his side that if he saw his designs everywhere and I was getting rich and he only got a small percentage.

        If I didn't know him it would be no issue I would try to buy the art and rights to it dirt cheap and sell like crazy, but with him I would feel bad.

        He is the best artist I have seen in life period and I can draw pretty good.

        So I may go 60/40

        Thanks guys for all your input
        That's the problem with doing business with friends/family. In terms of business, 60/40 is a bad deal for you. But as you want to also be fair to your friend I can understand why you'd opt for it.

        Have you spoken to him about it, and asked what he'd like? You never know, he might have figure in his head that you hadn't thought he'd consider?
        Signature
        {{ DiscussionBoard.errors[8949643].message }}
  • Profile picture of the author zenxseo
    if you want to Split 50/50 its good for both of you
    but the quality of design
    and how much money and time you are spending on this project also matter
    why not try some thing for 2 or 3 month and see the result and then decide the final Split.
    Good luck.
    Signature
    {{ DiscussionBoard.errors[8949270].message }}
  • Profile picture of the author OfficerIM
    I would go straight 50/50 and then use my fifty to go solo on a project, each of you go your own paths but hang out all the time since you both have the same mind set. I cannot tell you how difficult it will be for you to find somone who is in the same state of mind as you are. Your relationship is gold so keep it and never let money get in the way of that.


    Most importantly you both need to define each others roles in the project. Who is going to be entirely responsible for what (marketing - content creation) and you each need to be commiting equal amounts of effort. that means you should each be completing an average set of tasks daily. Once you hit your daily anything past that is all extra effort and their should be no percentage of how much you should own. It is all extra effort and the extra effort is based entirely for your love of the project, that is it.
    {{ DiscussionBoard.errors[8949447].message }}
  • Profile picture of the author gcbmark20
    Hi,

    You need to both sit down and figure this out together.

    If you decide without your business partners consent then this may have
    negative impacts further down the line.

    I don't see why 50/50 is out of the option.

    His talents - YOUR income = Business partnership.

    But of course like I said just go through it with each other first it'll make things
    much more transparent and trustworthy.

    Hope all works out well for you in the future.
    Gavin
    Signature
    {{ DiscussionBoard.errors[8949667].message }}
  • Profile picture of the author Mark Tandan
    One other thing to consider here, once you've decided on how to split things up, is how to best preserve your friendship.
    Going into business with a friend very often has the end result of that friendship dissolving.

    Whatever split you decide, put it in writing, and make an official contract. Let your friend know that you're doing this because you don't want business, at any point, to interfere with your relationship.

    Keep the business stuff professional, get it all in writing, and things will be LOT easier once you get underway.
    Signature
    Get Your Free Ultimate Affiliate Marketing Cheat Sheet!
    {{ DiscussionBoard.errors[8949686].message }}
  • Profile picture of the author laurencewins
    I agree with Mark. A solid friendship is worth WAYYYYY more than any amount of money so discuss it with him and find an agreeable compromise that you are both happy with. If it doesn't work, you don't want either of you to resent the other and lose the friendship.
    Signature

    Cheers, Laurence.
    Writer/Editor/Proofreader.

    {{ DiscussionBoard.errors[8949935].message }}
  • Profile picture of the author pizzatherapy
    laurencewins explains:
    A solid friendship is worth WAYYYYY more than any amount of money
    Is very true...and so 50/50 I think is the best...

    however,

    Mark Tandan says:
    Going into business with a friend very often has the end result of that friendship dissolving.
    Is another true fact!
    Countless friendships have been ruined when it comes to business and money...

    just saying...
    Signature
    Help Support Pizza! Pizza T-Shirts for Pizza Lovers! : Find Pizza On Earth!
    I am a PowToon Ambassador
    Discover Simple Easy Video Creation Tool
    {{ DiscussionBoard.errors[8949981].message }}
    • Profile picture of the author Martin Avis
      If you are paying all the marketing costs out of your pocket then I would suggest you go 50:50 on profits (after deduction of all business costs).
      Signature
      Martin Avis publishes Kickstart Newsletter - Subscribe free at http://kickstartnewsletter.com
      {{ DiscussionBoard.errors[8951055].message }}
    • Profile picture of the author MarketingBees
      Originally Posted by pizzatherapy View Post

      laurencewins explains:


      Is very true...and so 50/50 I think is the best...

      however,

      Mark Tandan says:


      Is another true fact!
      Countless friendships have been ruined when it comes to business and money...

      just saying...
      And this is why I would probably say that 50/50 Is NOT the way to go and instead of going into a partnership with them, instead treat yourself as the buyer and he the vendor. He sells you the designs for a fixed cost per design and then you own the rights to use them on tshirts instead of going down the % route where you two may have different visions of where to take it.

      Perhaps based the fee per design on him getting 50% of 100 sales. I've NO IDEA how the tshirt model works but say you make $5 per tshirt sale and he would get $2.50 based on 50% so offer him $250 per design?

      Like I said, no idea on margins and the profits in tshirt selling.
      Signature
      {{ DiscussionBoard.errors[8952101].message }}
  • Profile picture of the author actionplanbiz
    50/50 minus your expecnses
    Signature
    {{ DiscussionBoard.errors[8951080].message }}
    • Profile picture of the author savidge4
      Partnerships like this can be tough. When I have sold shirts, I bought the design out right, and kicked more later if it was a big hit. but this your boy, so you want to step up together. its a good thing. You have nothing without him, and he got his, but not on the level you are talking.

      Depending on how he creates his art, he may have an expense. You with the site, and mailing list, and some advertising you got your expense. Getting the shirts made, that will be an expense. In the end, melt the expenses, and split the rest. That's what boys do!

      And like said above, get it in writing!
      Signature
      Success is an ACT not an idea
      {{ DiscussionBoard.errors[8951103].message }}

Trending Topics