I met someone with a fabulous product, and told her that it was something I believed could go very big. My experience is in marketing and sales, and I have been very successful in those areas. She basically let me know that she was limited as to how much she could make...which of course limits the ability to grow. BUT I have the know-how and the connections to do what she can't do. I bought several of her product, and wear them. Everytime I wear them,people want to buy them. I've taken a few orders for her to make and ship to me. But NOW a very large retail chain has approached me about putting them in all of their stores. Now I'm stuck!

The dilemma is, how do I fairly approach her about becoming a partner and allowing me to grow this amazing product/business into something huge? I have the contacts to have the product made in greater quantities than she ever could. She's a stay at home mom and I don't feel she has the DRIVE that I have for her product. I know I could copy cat it, but that's not really the right thing to do. (although I don't REALLY know if she had the original idea either)

Any suggestions ???? I'm all ears!

Does this mom actually have a business or is it just a hobby? If you're not comfortable "copying" her biz (shows your integrity) offer to buy her business from her. Then you are unlimited in your potential to grow the business your own way. If she has no interest in actually growing the business she might jump at the offer to sell.

Sylvia
http://businessplanmentor.com
Business plan and start up resources

offering to buy the business is a great idea but what about also developing some really good and crystal clear ideas about how you could help and then suggesting to her that you help with those.

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I would not offer to buy the business unless you tell her about this other potential deal. Otherwise, if this business takes off, be ready for a giant lawsuit for undervaluing the business and basically ripping off this person. There have been such lawsuits in the past where the sellers won.

I would approach her and tell her that you have a potential deal. DO NOT give her the details because you don't want her circumventing you. See if you can work something out. Tell her what you're telling us - that you have all this experience, etc.

If she doesn't want a partner and doesn't want to sell, then see whether you can work out some licensing deal. Where, she sells to you but you pay her like a 5% cut of all sales.

If you can't work something out, then get an attorney and find out whether you can circumvent her. If you need a recommendation for a lawyer, PM me. You can also have your lawyer contact her about a deal. She may take it more seriously if its someone with "authority." That is, she'll see that you're really serious because you're willing to throw money at the situation.

Good luck!!
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