Msg#: 4480078 posted 7:46 am on Jul 28, 2012 (gmt 0)
I own a web solutions company and we have a sales and account management office in USA and we have our own offshore development facility in Dubai.
Our company started in October 2011 and has grown at a significant rate, we initially started out as a Web Design & Development company, but we are now slowly moving into Internet Marketing, Mobile Application and Video Production. We made this decision as we realized in-order to become a full web service company we really need to offer everything because clients come to us with 1-5 different needs for their business.
Now the problem I am facing is that I cannot manage and coordinate everything in terms of starting the additional departments. I came up with idea that I can offer a partnership opportunity along with their salary, this would only be for the managers of those specific departments. I can guarantee a constant stream of business coming from our web design and development and with these projects they require many other services i.e. Internet Marketing, Mobile Website or Application or Animation Video. With that said, the departments will be getting an inflow of potential prospects for their services and we can also target business through additional channels, so each department is really bouncing off each other in terms of potential sales.
Now I want these managers to handle everything within that department,which means they would be totally responsible for meeting goals and deadlines as well as coordinating the team that will grow organically. With the partnership my goal is to have them take total responsibility for growing this department with their experience.
I need to know what should I be offering in terms of partnership? And how should work? I am also considering to do this with other departments as well, so please keep this in mind.
Any additional information would be much appreciated.
I would like input from people have do similar partnerships to what I'm explaining.
Msg#: 4480078 posted 3:14 pm on Aug 14, 2012 (gmt 0)
Hello and welcome to WW, interesting choice of nick. As for your question: the task you are outlining sounds very complex to me, more than I would feel comfortable providing advice for in this context. I would study cases where companies have done franchise expansions before. WW is more suitable for concrete questions about more detailed issues. Good luck!
Msg#: 4480078 posted 5:28 pm on Aug 29, 2012 (gmt 0)
You should definitely talk to a lawyer/tax expert when drafting any type of partnership agreement. You may want to look at other ways, like profit sharing, instead of making them full-fledged partners. A partnership is like a marriage, with all the legal repercussions when trying to terminate.