₦airaland Forum

I'm in my mid 30s, single and with three degrees. I'm finding life hard for over four years now, she hard to seek comfort in another man's arm when I became so broke. I've been hustling but its not been paying.

An old time acquaintance heard of my predicament, he stays in China, I'm based in Crossriver but an Igbo by tribe. He gave me a suggestion of his willingness to invest N15m into my hustle on the condition that we draft a partnership agreement. I will be the one to run the business 100℅.

I have doubt in ability of Nigerians to stick to agreement. I have the conviction that his money will yield profit, but he's proposing that we set up the business in southeast. That will be more challenging to me because I've got to relocate. I've been living here for the past 10years.

Please if you're (or have been) in a partnership business please advice me. I'm tired of suffering. Most of my mates are settled but I don't want rush into this.

Thank you in advance.

Good day Sir.

Hmm. The conditions are somehow, a business can only be successful if you have a market for your goods or services.

Is there a lucrative market for your products in the east? Are there competitors?

Though the 15million is a huge sum and it will surely produce good results if well managed.

Now to Partnership.
You have to spell out your agreement plainly and written even legally. Especially the profit sharing ratio. What percent do you get?

But please tread with caution.

DEBUCHMANNY:
I'm in my mid 30s, single and with three degrees. I'm finding life hard for over four years now, she hard to seek comfort in another man's arm when I became so broke. I've been hustling but its not been paying.

An old time acquaintance heard of my predicament, he stays in China, I'm based in Crossriver but an Igbo by tribe. He gave me a suggestion of his willingness to invest N15m into my hustle on the condition that we draft a partnership agreement. I will be the one to run the business 100℅.

I have doubt in ability of Nigerians to stick to agreement. I have the conviction that his money will yield profit, but he's proposing that we set up the business in southeast. That will be more challenging to me because I've got to relocate. I've been living here for the past 10years.

Please if you're (or have been) in a partnership business please advice me. I'm tired of suffering. Most of my mates are settled but I don't want rush into this.

Thank you in advance.

Who will have the controlling shares? I already suspect your partner considering what he brings to the table. You should look for a way to contribute more value so you can negotiate for controlling stakes.

Location shouldn't be your biggest concern. In fact, you should use the opportunity to make your product/service available to more people in both locations.

Cc: Seun, lalasticlala.

sonofthunder:
Who will have the controlling shares? I already suspect your partner considering what he brings to the table. You should look for a way to contribute more value so you can negotiate for controlling stakes.

Location shouldn't be your biggest concern. In fact, you should use the opportunity to make your product/service available to more people in both locations.

Cc: Seun, lalasticlala.

It's a 50:50 ratio in terms of profit/loss