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Opening a shop as a partnership...the negotiation.

  • 02-06-2010 12:19pm
    #1
    Professor Chalk
    Closed Accounts Posts: 12 ✭


    Hi there,
    I have a possible opportunity to open up a shop in partnership with an already existing shop. So, there is already a successful shop in operation in one city and I am interested in setting up a similar operation in a different city.

    Ideally I'd like to be able to go it alone, but I'm finding it very hard to reliably source the product that I wish to sell (it's a specialist product).

    So, my only option may be to do it in partnership with this already existing shop. I have talked with the owner about the idea before and he is interested as he sees it as a good opportunity.

    I have enough money to pay for refurbishment, website, promotion and several months of rent. As I said, the thing I don't have is the ability to get in the product, which is where he'd come in.

    I'm wondering what way I should go about the negotiation. If I am paying for refurbishment and rent, there is little risk for him as any unsold products can just be shipped back to his own shop for sale.

    Any advice would be greatly appreciated!

    Prof. Chalk


Comments

  • #2
    DoMyBooks
    Registered Users, Registered Users 2 Posts: 355 ✭✭DoMyBooks


    Rather than a partnership can you not just buy the product directly from him.

    For example he buys widgets from china at €1 he sells them to you for €1.02 (SOR) making 2c without touching the product. (example margins)

    In my opinion that would be a lot less messy for all concerned.


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