Invest and start to collect your capital, as soon as you get all your capital, probably with little interest, then gboju e.

greatiyk4u:


Here is the idea way to share the money

40% of the profit made goes to your capital
20% is your allowance
While 40% goes to the labour

Making it 60/40

This is the only thing that motivate him to work hard and remain honest and loyal

Can you explain more on this your sharing formula
Who is taking what ?
Remember if we employ stylist, I will be the one paying their salary

As for people that suggest I should invest it for him and leave everything, I'm only doing it because I need to diversify my capital (having another stream of income) and he has brought up a better plan

I felt instead of leaving everything to him, I can incorporate him into the company as a Director when we fully expand

Sheggzy007:


Can you explain more on this your sharing formula
Who is taking what ?
Remember if we employ stylist, I will be the one paying their salary

As for people that suggest I should invest it for him and leave everything, I'm only doing it because I need to diversify my capital (having another stream of income) and he has brought up a better plan

I felt instead of leaving everything to him, I can incorporate him into the company as a Director when we fully expand

You are sharing only the profit after deducting all expenses including salaries of other workers

Fund everything in your name. Share profits 65/35 to be reviewed every 6 months depending on level of hard work inputed by each individual. If after 2 years your brother is still diligent, you can dash him the business. By then you have enough money to float another one.

Don't mix business and blood, you will almost always regret it.

My 2 Kobo: Give the money to your brother as a grant.You can monitor the growth of his business once in awhile.After all, it is better to teach someone how to fish( setting up the business for him) than giving him fish.
If you plan to invest in another business besides Forex, you can critically analyze the space you want to venture into and run the show yourself.

if he is trustworthy and loyal you can set up the business for him calculate the costs and let him refund that in a convenient way. my brother also did the same thing to me , though am done paying back and it is not barbing .

Settle you with that if you have the money. He's your brother

This kind people will train a woman in school but can't help their brother to be financially free.

It is fight and unresolved hatred that will end this move.

Sheggzy007:
Good day Nairalanders
I specifically created a new account to seek for your opinion here
I will like to invest a sum of money for my brother, he's into barbing and he's very good. So he approached me about a vacant space which we can acquire and equipped to a good taste.

I will like to seek for your advice if the barbing salon is set up in my name, how do I deal with the renumeration, should I place him on monthly salary or I give him percentage of what is made at the end of the month after removing expenditure.

Note: He is very loyal and hardworking

You need our advice.... Don't invest in him. Invest in me. I will pay you back.

He is your brother!
I want you to see it from the point of empowering him.
I advise you do 20:40:40 with him in profit sharing.

20% for the shop maintenance (to be kept in your care)
40% for you, and
40% for him

Sheggzy007:


Thanks brother
I'm thinking of percentage too, but not 50/50 since I will still be the one that will maintain the shop and other things

All suggestions and advice are greatly valued. I'm managing myself too, due to high volatility of my own type of business (forex) that's why I decided to invest in physical business.
The location we found will surely boost the business and I will have another stream of income. I will surely come up with an agreement

Thanks for all your suggestions

Oga setup your brother and let him manage the thing for himself... No do joint level with family thing cus na fight dey end most... If you can afford to set it up for him abeg do am and sort yourself a business for yourself to manage...

Hollyharjii:
Firstly, I believe you're doing very well in your chosen field

Secondly, this is your brother's idea, so why not invest in him once and for all and know that you're doing that for humanity than you still wanting another channel to earn from him since you said his a loyal person, so i believe he'll forever remain grateful to you...

Thirdly, it'd have been better if you're into this business before him saying there is a space someone...

my 2cent thou

You dey mind am ..

Sheggzy007:


Thanks brother
I'm thinking of percentage too, but not 50/50 since I will still be the one that will maintain the shop and other things

All suggestions and advice are greatly valued. I'm managing myself too, due to high volatility of my own type of business (forex) that's why I decided to invest in physical business.
The location we found will surely boost the business and I will have another stream of income. I will surely come up with an agreement

Thanks for all your suggestions

Greed don sets in already.

Hollyharjii:
Firstly, I believe you're doing very well in your chosen field

Secondly, this is your brother's idea, so why not invest in him once and for all and know that you're doing that for humanity than you still wanting another channel to earn from him since you said his a loyal person, so i believe he'll forever remain grateful to you...

Thirdly, it'd have been better if you're into this business before him saying there is a space someone...

my 2cent thou

May God continue to be enriching your brain..

Best advice do far

Sheggzy007:
Good day Nairalanders
I specifically created a new account to seek for your opinion here
I will like to invest a sum of money for my brother, he's into barbing and he's very good. So he approached me about a vacant space which we can acquire and equipped to a good taste.

I will like to seek for your advice if the barbing salon is set up in my name, how do I deal with the renumeration, should I place him on monthly salary or I give him percentage of what is made at the end of the month after removing expenditure.

Note: He is very loyal and hardworking

Are you investing in him or you want to run a 2nd stream of income for yourself and employ him? cos what you typed here is not investing in someone especially, a brother.

Set up the biz in his name and tell him how much he will be remitting weekly or monthly or daily as the case may be, once you have recoup your investment plus profit you allow the boy to fly or set it up for him and forget about it, let him run it as he wishes. One thing I've learnt is that people are more serious in thier business than when they are running it for another person.

Sheggzy007:


Thanks brother
I'm thinking of percentage too, but not 50/50 since I will still be the one that will maintain the shop and other things

All suggestions and advice are greatly valued. I'm managing myself too, due to high volatility of my own type of business (forex) that's why I decided to invest in physical business.
The location we found will surely boost the business and I will have another stream of income. I will surely come up with an agreement

Thanks for all your suggestions

Like the advice you quoted stated, put all the expenses (salaries of all staff your brother inclusive and overheads) into consideration and then split the profit at a reasonable percentages.

Hollyharjii:
Firstly, I believe you're doing very well in your chosen field

Secondly, this is your brother's idea, so why not invest in him once and for all and know that you're doing that for humanity than you still wanting another channel to earn from him since you said his a loyal person, so i believe he'll forever remain grateful to you...

Thirdly, it'd have been better if you're into this business before him saying there is a space someone...

my 2cent thou

Best advice since he's brother not an outsider.

Amen Sir

Starhearts:


May God continue to be enriching your brain..

Best advice do far

Op I hope you can manage the business when he decides to open his personal shop?

Invest and leave it all for him.

If u decide to share, he will not move forward. U will still continue to give him.

Let him see it as his own.

Besides, all businesses in Nigeria now ehhhh....

lomprico:


Are you investing in him or you want to run a 2nd stream of income for yourself and employ him? cos what you typed here is not investing in someone especially, a brother.

Set up the biz in his name and tell him how much he will be remitting weekly or monthly or daily as the case may be, once you have recoup your investment plus profit you allow the boy to fly or set it up for him and forget about it, let him run it as he wishes. One thing I've learnt is that people are more serious in thier business than when they are running it for another person.

Running another stream of income while he is in charge of operations

Bro do it 50/50...if u leave everytin to him, he doesn't no wat u past tru...do everytin in Ur name...if not ..he will run d biz down ....

Sheggzy007:


Thanks brother
I'm thinking of percentage too, but not 50/50 since I will still be the one that will maintain the shop and other things

All suggestions and advice are greatly valued. I'm managing myself too, due to high volatility of my own type of business (forex) that's why I decided to invest in physical business.
The location we found will surely boost the business and I will have another stream of income. I will surely come up with an agreement

Thanks for all your suggestions

Have a written agreement otherwise owo wo gbo

Slimzjoe:
I've Run my own Barbing saloon before I put workers in it to manage and they ran the business to the ground.

The lessons I've learnt are many. One of which is that no one can handle your business like you can. You can't really tell your brother's motivation towards the business so here's what I'll advise.

Pay for the shop and furnish it well. Then ask him to pay you a certain amount of money every month. Could be 30,40 or 50k depending on your own close observation as to what you think the shop might be producing. This will encourage him to work hard to meet up to your pay and make enough for himself as well.
This is just what I think. You might have better ideas

Impressive submission.

Check my signature line below

Op, if you can afford it, open the salon and gift him as his business.
One thing I have noticed over the years, such partnership business does not work, besides it ends unpleasant, causing issues between people.
How much do you want to share in a saloon sef?

dtruth50:
Ah!!!! CCTV on top wetin? Na his brother oooo


I could remember it was my mother that helped me with 80% of the money I used to start my computer shop and she never asked me to be giving her some percentage.

I think it will be better if u should ask him to be returning ur invested money little by little without expecting any interest.

Greetings brotherly, please concerning your opening of computer shop, please am about to open mine..
Can we talk? Please in need abit of your guidance, advice and assistance..
You can drop your WhatsApp number in letters like zero seven zero......etc
thanks.

Sheggzy007:


Thanks brother
I'm thinking of percentage too, but not 50/50 since I will still be the one that will maintain the shop and other things

All suggestions and advice are greatly valued. I'm managing myself too, due to high volatility of my own type of business (forex) that's why I decided to invest in physical business.
The location we found will surely boost the business and I will have another stream of income. I will surely come up with an agreement

Thanks for all your suggestions

I sense you are a greedy and selfish man. You are already doing fine from where you'll be getting that money from, so why can't you share 50/50 after deducting expenses?
So, assuming your brother is idle and doing nothing and you are doing fine, won't you help your brother without looking to share profit?

Open the shop, make sure you have a female sales person there, and collect all the payments. Then at the end of the month, deduct all expenses and cost of running the business and share the rest with your brother based on percentage. But don't be too greedy! DON'T PLACE YOUR BROTHER ON A SALARY.

Sheggzy007:
Good day Nairalanders
I specifically created a new account to seek for your opinion here
I will like to invest a sum of money for my brother, he's into barbing and he's very good. So he approached me about a vacant space which we can acquire and equipped to a good taste.

I will like to seek for your advice if the barbing salon is set up in my name, how do I deal with the renumeration, should I place him on monthly salary or I give him percentage of what is made at the end of the month after removing expenditure.

Note: He is very loyal and hardworking

I support those that say support him and don't expect reward, get the space for him, give him some starter finance support (generator, and few saloon equipment) , then let him work towards developing the place himself.

It'll be good if you can find more side business of your own, you can invest in.