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Any one have any experience in a joint ventures on e/b?
 

I was recently approached by a good friend of mine who already runs a successful business and has his own shop that deals with custom clothing.

He asked me if i wanted a joint venture, i'd have to setup the E/B store and design the website and run them both - he'd deal with the actual shop/advertising/designs/wholesale, which i really don't mind.

The good thing about this, he's never used E/B so may use his details and the real company name, may also get my name registered with the actual company.

I have researched and tested out a few of the clothing came back with great results.

Known him for about 7 years now, so he's well trusted in my books.

I'm really excited about it, some really nice urban and retro designs from what i seen so far, he has a solid team of designers that deal with the logos and such, he also has some well known rappers/grime mcs wearing the clothingline and advertising them.

I'm wondering if anyone has any exerience undertaking a joint venture in the online business world?

Lots of people run joint ventures but the only thing I would say is no matter how well you think you know the guy have it all drawn up legally if you do decide to go into it.

One question though, if he is doing so well why hasn't he gone into e/b and online retail before now and why now?

Most indie designers have an online presence from the get go.

Get the honest answers to that and then make up your mind if it's a good deal.

Dont rush into it :croc:

I currently run 6 joint ventures similar to what you are describing Thankful. In fact they are the greater part of my Ebay/PP dealings

They all have various differences but the main thing is that everybody understands their obligations before it begins. Ironically 3 of them are with people who made contact with me through this forum.

This isn't something I would want to discuss too far on the open forum but if you need any advise I am happy to talk to you with my experiences and what I believe are the pit falls by either PM or Email

:ranger:

Oh i have asked him why he hasn't used it before, he simply didn't know e/b was great for sales until i tested it out for him, hence why he's interested now and wants to expand it to something bigger.

Like alot of successful business don't use e/b too, they either don't know of its potential/ are not interested in online business/or just happy with running successful without the need for online sales.

I guess you don't really know if something will work out unless you try it.

The actual business has been up for a year n half, he was never into pcs much to be honest hence why he got the design team in place.

Yup, looking to get everything on paper and done legally, business is business of course.

Everyone on the forum seems to go it alone i'd presume.

"Two heads are better than one" time to actually put that quote into action!

Interesting post granny.

I may take you up on that offer and PM you.

:)I have had experience entering stranger-joint ventures with virtual contracts. I started selling on eBay as a joint-venture first, I was supplying the products and someone I knew online for not more than a week - was selling them on his eBay account. We generated about $5000 in the first month in sales and we didn't have any problems with trust whatsoever.

Joint venturing with online partners might be a little tough on you, but if you know the person offline it shouldn't be a problem.

I have had a very bad experience in a joint venture in past though, entered into a joint venture building up a MMPORG game, I was supposed to be the 50% partner. The game generated $20k+ in 3months and I got $1k or $2k before I got cheated.

But that's 100% due to lack of experience in my early years of my online carrier.


My advice to you, just be positive about it and trust the person and expect him to trust you too, because in this type of joint ventures the element of risky is very minute, risk is brought down to almost 0 when you know a person for such a long time. Just be positive and go for the money!

Wish you best of luck :)

I see, interesting post, live and learn.

MMPORG is big business these days if you manage to create a great interface that people will enjoy.

Why don't you persue your own one now?

You currently undertaking any right now?

This will be my first joint venture, although it's someone i know in person and trust, not worried about being ripped off for the time being.

Just another word of caution......

More people get stung in business by people they know and trust than by complete strangers.

MMPORG is a big business, you are right. To develop a game which I want will take about 6-months to complete, I have a big plan related to a MMPORG just no time on my hands right now to pursue it. I am more into buying and selling for now and it's fruitful without doubt.

Sorry about this - what is MMPORG?

Of course it is - silly me:doh:

We all learn - nobody knows everything.
:peace:

I'm sure money just rolls in with a solid MMORPG with frequent updates, deals, packages etc boom!

Good luck dude.

I got another question that i'm dieing to ask too - i'll pm you.

I would be game as long as my business is not incorporated into his... Keep yours and joint totally separate... Also, highly agree in getting a good business lawyer to draw up terms for success AND failure... You do not want creditors to have access to your funds in case of bankruptcy... Some serious foundation need to be laid out with all details...

I guess another important factor to think about is how much capital investment is expected from each party...