Hi there. I hope someone might guide me in the right direction.
I've just moved from Australia where a friend of mine founded and is running a successful part-time business. I think the business would work well here and have identified a gap in the market.
I've contacted her with a view to discussing the business and doing a version of it in Ireland and the UK. Practically speaking, all I'd need is rights to her branding and to get the website mirrored here as I'll need to source all the stock, sell it myself, promote myself, logistics etc.
I don't think a franchise operation is suitable but I'm not sure how to monetise it for her. Do I pay her for use of the branding? For rights to copy the website? Or give her a share in the company for future profits?
Would appreciate a commercial view on this. She's a friend and I know would be reasonable but I want to bring practical suggestions to the table.
Thanks in advance.
I've just moved from Australia where a friend of mine founded and is running a successful part-time business. I think the business would work well here and have identified a gap in the market.
I've contacted her with a view to discussing the business and doing a version of it in Ireland and the UK. Practically speaking, all I'd need is rights to her branding and to get the website mirrored here as I'll need to source all the stock, sell it myself, promote myself, logistics etc.
I don't think a franchise operation is suitable but I'm not sure how to monetise it for her. Do I pay her for use of the branding? For rights to copy the website? Or give her a share in the company for future profits?
Would appreciate a commercial view on this. She's a friend and I know would be reasonable but I want to bring practical suggestions to the table.
Thanks in advance.