Full time or Part time Entrepreneur

Idealistic!

Good idea on sharing a shop together but it is not easy to find a right partner to do this venture. It has to be a long term commitment and not hit-and-run biz.

Most importantly, to be frank, all partners has to agree on all terms upfront because shops rental is minimum 2 or 3 years contract. Just in case dispute arises and then one of the partners withdraw then this might lead to ...... unless someone pump in funds again.

Such as which are most common disputes:-
1. Capital (equal??)

2. Partners has to do this full-time? or allow them to hold a full-time job elsewhere? this could lead to disputes on the time and efforts spent on the shop.

3. Profit sharing on total sales or individual profit based on their own product range? Each partner has to take responsibility on the products they bring in if it does not sell well.

4. Looking after the shop based on planned schedule (meaning 2 partners to mend the shop) or employ part-timers?

5. Whose product to take the best location in the shop? or maybe can re-arrange the products again but this may cause confusion to your shoppers if they come back more than once. Besides partner may fight that particular location for that peak month, eg: Dec or school holidays.

Whether this can make it, really depends you have to choose the partner to work with. There could be more to the list (I was just typing what comes across my mind)... do consider carefully cuz it is long term commitment.

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Best Regards