Help with new business opportunity

[Thys LOW Elektries]

Good day gents
A national solar franchise had approached me with an offer to be the manager of their new branch and will share in the net profit, as manager. IT SOUNDS VERY GOOD, not sure what pitfalls I had to look out for never run a business other then my own.
What must be included in the contract and what must be included? What would you do?

Greetings and have a blessed week

[Dylboy]

I don't know contracts but my first thought it that if you have a share in profits make sure you don't have a share in losses and they come after you if the brown hits the fan

But I do not know contracts and law at all and that stuff always seems so sneaky to me.

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[Dylboy]

But well done on the offer ! Lekker feather in your cap as well

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[Justloadit]

Sign no surety on behalf of the company

[Blurock]

Good day gents
A national solar franchise had approached me with an offer to be the manager of their new branch and will share in the net profit, as manager. IT SOUNDS VERY GOOD, not sure what pitfalls I had to look out for never run a business other then my own.
What must be included in the contract and what must be included? What would you do?

Greetings and have a blessed week

You must be successful in your current business if they want to appoint you as a manager for their store. Is this an employment opportunity or is it a type of joint venture?
How does this effect your current business? Can you continue with your own business and does it add value and opportunities for you. One will have to study the contents of the contract before making any recommendations, but definitely look out for the following:
1. Is this full-time employment?
What is the salary and terms of employment?
What does the profit share entail? Get details.
2. How does this affect your current business?
Do they just want your expertise or is this a mutually beneficial relationship?

There may be other questions arising, but talk to the guys and make sure that you understand everything before signing or agreeing to anything.

[Firepool]

You must be successful in your current business if they want to appoint you as a manager for their store. Is this an employment opportunity or is it a type of joint venture?
How does this effect your current business? Can you continue with your own business and does it add value and opportunities for you. One will have to study the contents of the contract before making any recommendations, but definitely look out for the following:
1. Is this full-time employment?
What is the salary and terms of employment?
What does the profit share entail? Get details.
2. How does this affect your current business?
Do they just want your expertise or is this a mutually beneficial relationship?

There may be other questions arising, but talk to the guys and make sure that you understand everything before signing or agreeing to anything.

My question would be is it a viable business.50% of 0 is zero .What if the owner of company just takes huge salaries out of the business or loan accounts and there isno profit at end of day.There is many ways to get around making profits.Also do you buy shares or are you given as nothing like that has a perfect formula/.Then of course the liability on the flip side if things go bad ..

[Thys LOW Elektries]

The owner owns the franchise and will be visiting it from time to time as he visit the area. The offer is an full-time employment opportunity. The owner needs my skills, expertise and coc signature on projects. I'm an independent contractor and signing a deal like this is new for me. We are in the "confidential" negotiating period. I know the owner more then five years so both of us is trying to get the best package possible out of the deal
So when I know more, I will share more information.
At the moment I'm looking for possible potholes and stuff that would be good for me to include or exclude in the contract if needed.
I like the idea of having shares in the company then one day when I retire it could supplement my pension