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Old 21st August 2011, 03:11 PM   #1

Join Date: Aug 2011
Location: Two Hills, AB
Posts: 2
Default Setting Up Second Business

Hi there,
We have a family owned business that we have run for 12years, and has one owner. We are now starting a second sister business under a new name and we would like to take on a shareholder.
My questions are:
The potential shareholder has no capital to put into the company, which means we would be the bankroll for the company, however he would be the general manager of the new company. His portion is to be paid in 1 year.
1)How do we get a safe share structure going?
2)He would be on the manufacturing side only and we on the retail and manufacturing. Would it be wise to offer something on the retail side?

My thoughts,
The potential shareholder is young and has never owned a business, but has managed one (and currently is) and is very energetic, but we need for him to bring more to the table than just experience.
I am also young and will be spearheading this business so am wondering on a safe business structure. I am a shoot first ask questions later type of guy, but this is an exception.

Your thoughts, and any help is good help.

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