Background: I own a website (promoting the town where I live - Port Douglas, Australia) which I have built over the last 3 years while studying a B. of Internet Communication (full-time) at university. It owes me somewhere between 3000-4000 hours and, despite never spending a cent on marketing, the site ranks very well in Search Engines and attracts very good traffic levels. Up until now I have not actively chased any advertising dollars, instead I`ve worked on improving and adding features. There are still a few things that need finishing (or adding), and a bit of polishing to be done, but overall the site is ready to go (with full control panel), and the potential is there for good advertising revenue.
Current Situation: Now that I am finishing my degree I plan to return my focus to my real passion - the filming, production, and (online) delivering of scuba diving videos and photos. I am looking to sell all, or part of, the website so it can be run by someone with the time and money to market and grow it to its full potential. So far I haven`t found a buyer to take the whole site, however I do have interest from a few local businesses interested in each buying a share.
The Plan: At present I am looking at the possibility of selling 60%-80% of the site to 3-5 local businesses who would be jointly responsible for the marketing and day-to-day running of the site. I would stay on as the website developer.
- What potential pitfalls would there be with this arrangement.
- Is 3-5 partners too many? They would be in complimentary industries... eg Restaurant, Accommodation, Tour.
- Would I be better off selling only 49%
- What special considerations would need to be factored into an agreement / contract?
- What other feedback, suggestions, or insights can SUN members offer?
"The truth, whilst amusing and interesting, is totally irrelevant. Perception is the only thing that counts." author unknown (to me at least)