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Contract Help | Buying Share in Company
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Contract Help | Buying Share in CompanyPosted:

Makenna
  • Powerhouse
Status: Offline
Joined: Dec 05, 20158Year Member
Posts: 474
Reputation Power: 32
Status: Offline
Joined: Dec 05, 20158Year Member
Posts: 474
Reputation Power: 32
So there is a company in which ive been in talks of purchasing a 50/50 share in. Its FIFA Pro Clubs site that's very similar to VFL. The website has 6k Members and is growing more and more every day. Ive been on the site for about a year and was Co Owner of the website for about 6 Months but stepped down due to losing my mother. Ive always had full admin access. Like I could completely delete the site if I wanted too. Anyways some months we will get about £60 in money from the store and donations and others we will receive upto £130 a month. So if I became 50/50 partners, I would make %50 of that. But we would have to raise atleast $24 which would goto the servers and everything to help run the site, then we would split the rest. Now hes not really the smartest tech wise so I told him if I were to purchase the whole site, I would pay about $200 but since he offered 50/50, I told him I would go $60. Now honestly, That site with those incomes could be worth around $500. Now I need your opinion, is it worth it to invest? And if so, Can any of y'all help me with writing a contract? Thanks:)
#2. Posted:
JRT
  • Idea Guy
Status: Offline
Joined: Aug 05, 201211Year Member
Posts: 536
Reputation Power: 66
Status: Offline
Joined: Aug 05, 201211Year Member
Posts: 536
Reputation Power: 66
You have a base of 6K members and you only receive $130ish per month in revenue? You really need to sit down and map out some strategies to heavier monetize the site before buying a share / full ownership of the site.

Map out a 3, 6, 12 month strategy and if your visions align then go ahead.

Life is all about taking risks... But do make sure they are well calculated.

Good luck sir! Nice to see a fellow entrepreneur making some movements, even if they aren't the biggest, just keep hustlin'.

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