Two partners for a business venture. Need to split income... Clickbank? Help.

by jrim
7 replies
Hi guys.

TL;DR: Is it possible to pay out from Clickbank or another payment processor to multiple bank accounts to accommodate multiple business partners?

I am about to go live with sale on a program that I have created with somebody else. I have done all the programming, though - he is just responsible for the website and actually marketing the product.

At any rate, we agreed to split commission 50/50. We are using Clickbank as our payment processor for our customers (or plan to, we have not received any orders yet) and also plan to give affiliates half of what we make (50%). The issue lies in the fact that all payment will be made to my partner via check, and I will then be cut half of whatever he is paid. I do not know this person in real life and I have never met him.

We do have a contract set up that has been signed but I would much rather split payment directly from Clickbank, or even directly in the purchase. I am starting to count the number of ways this could go wrong and it is frightening me to think I could have wasted all my time. Is it possible to have Clickbank payout to 2 bank accounts, or is there another payment processor that allows this? Or can I specify multiple affiliates upon receiving the order and cut each one 33/33/33? Or 50/25/25? Etc..

Looking for any advice on this. Thank you.
#business #clickbank #income #partners #split #venture
  • Profile picture of the author Harvey Segal
    ClickBank are currently beta testing 'ClickBank
    Joint Venture' a system which will allow a vendor
    to share his portion of a sale (after deductions
    of affiliate commission) with up to 5 other
    ClickBank accounts.



    Harvey


    .
    {{ DiscussionBoard.errors[4081343].message }}
    • Profile picture of the author Kevin Williams
      Originally Posted by Harvey.Segal View Post

      ClickBank are currently beta testing 'ClickBank
      Joint Venture' a system which will allow a vendor
      to share his portion of a sale (after deductions
      of affiliate commission) with up to 5 other
      ClickBank accounts.
      Ooh. That is interesting! Any more information??
      {{ DiscussionBoard.errors[4081509].message }}
  • Profile picture of the author MichaelHiles
    Also, why couldn't you just create an LLC (or the like) and open a bank account in the name of the LLC with joint signatories on the account? Then the CB check just gets deposited in the account like any other business with partners?

    Just sayin'.
    {{ DiscussionBoard.errors[4081435].message }}
    • Profile picture of the author jrim
      Originally Posted by Harvey.Segal View Post

      ClickBank are currently beta testing 'ClickBank
      Joint Venture' a system which will allow a vendor
      to share his portion of a sale (after deductions
      of affiliate commission) with up to 5 other
      ClickBank accounts.
      This is just what I need. When is this feature due out?

      Originally Posted by MichaelHiles View Post

      Also, why couldn't you just create an LLC (or the like) and open a bank account in the name of the LLC with joint signatories on the account? Then the CB check just gets deposited in the account like any other business with partners?
      Wouldn't that still just leave both of us to withdraw whatever we like? What is the point? Additionally, I think both people need to be present to create an account where one person is signed on - we are about 6 states away.
      {{ DiscussionBoard.errors[4081493].message }}
      • Profile picture of the author Harvey Segal
        Originally Posted by jrim View Post

        This is just what I need. When is this feature due out?
        ClickBank said in April that it would be
        "within the next few months"

        Harvey


        .
        {{ DiscussionBoard.errors[4081516].message }}
      • Profile picture of the author MichaelHiles
        Originally Posted by jrim View Post

        This is just what I need. When is this feature due out?



        Wouldn't that still just leave both of us to withdraw whatever we like? What is the point? Additionally, I think both people need to be present to create an account where one person is signed on - we are about 6 states away.
        You could stipulate that it required double signature. Bottom line is that it happens all the time with partners in geographically dispersed locations. Contractual boundaries can certainly govern who gets what access and the authority of the cash management.

        Just trying to suggest business solutions in lieu of technology.
        {{ DiscussionBoard.errors[4083859].message }}
  • Profile picture of the author Mike Hlatky
    Here is a LITTLE more information about the program:
    https://www.clickbank.com/jvprogram_guidelines.html
    {{ DiscussionBoard.errors[4083884].message }}

Trending Topics