My good friend has a very successful offline business. (For the purpose of this discussion, I'll say she makes and sells flags.) She is so good at what she does that she has a waiting list of people wanting to buy her items. She has a website, but only uses it to draw customers to her store. She knows very little about the internet, mostly because she has been too busy developing her business. I recently suggested that she should write an ebook and instructional dvd and sell them online. She loves the idea, and wants me to handle her marketing, publicity, etc. Basically, I would do just about everything online, and she would pay for the film crew, make the dvd and write the book. She wants me to name a percentage of the profits that I want for all my work, and that's my problem. I don't know how much I should say I want. My friend has spent years perfecting her techniques, and she wouldn't have much competition online because there aren't very many instructions available in her niche. Does anyone know if there is a standard way of divvying up profits? Any and all suggestions will be greatly appreciated.
Looks like a partnership to me. 50/50 or 40/60 would be appropriate. I would tend to give her more of an edge since she is handling everything financial as well as having a list already.
you should take the decision yourself and you should take a fair decision.I can suggest 60-40 is good as others told the same.
So what will you be doing online? Marketing the products only? You can with 30/70... 30 for you and 70 for her as a startup. You can increase up to 50/50 later if you see a nice profits from it. Talk to her about this idea first. If she agree....start it right away.