Originally Posted by White Gardens
Agreed on this. I wouldn't use him as a partner, but as an employee with profit sharing so that he gets paid more like an owner without him actually being one.
Partnerships rarely work out, but to make an employee accountable for the amount of profit coming is a nice balance.
Dave Ramsey has some great advice about this subject. Even when multiple people want to start a business together, he advises to put the business in one persons name, and let the other take a profit share.
Big time Dave Ramsey fan.
Consider this. If things went south, would he be able to walk away the next day without much loss compared to you who is paying or payed for everything and has assets your are stuck with? So consider his risk in the company when you are deciding to cut a check.