My mom and I have had a small business with each other for the past 3 years and have been relatively successful. We travel throughout California selling at fairs and festivals. We would like to start a new business continuing to sell at fairs, but do not currently have the start up money. I have a friend that is looking to invest as a silent partner. He knows nothing about the business, he's just looking to make some extra money, as he has his own full time job. We have never taken on an outside partner, and do not know what the standards are. What would be a fare percentage of money to pay him since he'd give us the initial money, but we would be doing all the work and have the expertise? Also, is whatever the percentage is that we agree to pay him back just a percentage of profits, and would we deduct the cost of inventory, booth fee, hotel, gas, etc.? Lastly, if he's a partner he partakes in any losses, what exactly does that mean in terms of the amount of money we are suppose to pay him back? Any insight would be greatly appreciated!!