Negotiating a business finder’s fee
Ask FSB’s experts offer advice for a wine importer starting up a new line.
I. Safdie, Miami, Fla.
I introduced a South American wine to the person in charge of importing food to his Caribbean island. He has a sample of the wine, and agrees that it’s good. I have no capital of my own, so am unable to import the product to the U.S., where I know it would do very well. I did all the research and used my personal contacts and references to get this person an appointment with the winery. This person has now offered me a finder’s fee, should the wine pass the initial compliance inspections necessary for his country, after which he will offer it for sale there. How do I validate this, and what do I charge as the finder’s fee? And if I looked into importing it myself into the U.S., what are the first steps I should take? Read more…
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Sid, Atlanta
My partner and I have owned more than 10 Dairy Queens over the past 20 years. We’ve never lost any locations. Each is incorporated separately. We’ve been trying to capture another location in Alabama. They’re asking $625,000 and we’re ready to put 20 to 25 percent down. It seems hard to get a loan these days. Is it because the market is falling? Do you think we might face a problem securing the loan? Read more…
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My partner and I are having disagreements on how we’d like to expand our business. We currently operate a small restaurant. My idea is to open more locations. To do so, we’d have to bring on additional partners in these new ventures, which would mean we would not have the same amount of company shares in the new location. Currently, I’m the majority shareholder with 55% in the company stock, to her 45%. I have offered her the opportunity to expand with me. She’s declined, saying she’d like to go out on her own, alone, and open another location with our current name. As a majority shareholder, can I protect the company name, and not allow her to operate a new location if I’m not involved? Read more…
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