I am the sole manager of an LLC, and am considering taking on a partner. I invested 35k into the business so far, but the partner i am considering cannot gross a financial investment.

Scenario 1: I am considering letting him hold in escrow some of the profits that he brings in and permit him "buy" into the partnership. What % of the earnings should be attributed to him? Should I even consider this?

Scenario 2: The business requires someone to be at a shopping arcade kiosk all the precinct hours. If he works all the hours in need hourly compensation, but he now have a % claim on net gain, is that fair? What % is honourable?

Thanks for the input.

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Answers:   I think what is do is what the two of you agree on. Also keep surrounded by mind that you do not have to be equal partner. Will you still be making a contribution to the business after you take him on? If so that complicates matter because your investment is now not just your 35k but also your time.

One way to look at is what the business brings contained by without him as a partner, versus what it will bring contained by with him as a partner. So yes,I do ponder his time is worth something. Many partnerships are made beside one partner providing the backing and the other doing the work.
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