[MillionaireMindset]

My best friend, his mother, and I are starting up an all night food/convenience store delivery business. Both of them are putting up 15k a piece while I am not providing any capital. I am however in charge of the breadth of the responsibilities from the research and execution of legal steps, development, marketing, handling of phone calls/emails, taking meetings, placing orders/making purchases, creation of business plans, virtually the whole shabang ect... the list goes on. I would like to know what is a fair arrangement for us 3? What percentage would be fair for each of them and myself being that I provided no financial investment but they are relying on me to develop and manage the business. His mother will be leaving all decisions and execution to us basically being a silent partner other than some basic bookkeeping. What should be my hourly pay and what percentage of the company should I be privileged to for my work in getting this off the floor? My friend and I will be working and overseeing the store 40-50 hours a week. I would also like to know what would be our best option in operations as to what my title and access to resources should be in the business with myself being the face and voice of the company taking care of all relationships with lawyers, loan officers, business planners, wholesalers ect. while ensuring that our sba loan is approved. With his mother having a 820 credit score and the chances of receiving a loan greater when you are a female small business owner would it be a wise decision to go with an LLC, sole proprietorship under her name, or a partnership. As a first time endeavor for all of us I have a wealth of questions that I am trying to get feedback on. I have limited knowledge in this being the 1st business i have developed from the ground up and only coming from a background little more than one year of college courses in business administration. Your help is greatly appreciated. Thank you

[noob]

Seeing as how the business has not started and there is no proof of actual revenue produced and they're 100% the one risking something to lose, even though you are doing the bulk of the work and is suppose to see the idea come true, if anything, because the business has yet to form or function and no proven track record exist on your part, the fair thing would actually be allowing them a higher majority share.

The actual scenario is its going to be dependent on what you three can decide is fair amongst yourselves.

[chuff1026]

give them a higher percentage
charge them for your time
but when i say that, bill them, so that your time will be paid out of revenue...
after you are paid for your time then you profit sure