ADVICE ON A PARTNERING RATHER THAN ACQUIRING (AT LEAST RIGHT AWAY)?
Hi Searchfunder community,
I'm a self-funded searcher. As part of my outreach, I have been talking with a current owner who has developed a great product in a fast-growing space, but has not implemented any real practices around sales, marketing, or operations. (For context, the owner comes from a deep-tech background--the company is on track to do ~$3M in annual sales this year due to the strength of the product, with very immature operations).
For many reasons, the owner would rather partner with me to grow the company before potentially recapitalizing and/or fundraising. We're still early in conversations, but this seems like a compelling offer (especially given the owner's expertise and match with my skillset, plus the chance to de-risk the opportunity). Does anyone have experience with this type of arrangement? Any recommended advisors or lawyers who might be helpful to work with?