I have no idea how long it takes to write a blog versus creating, maintaining, and editing (and keep the implementation of the latest developments in internet technology and the blogosphere). My friend says he has 10 years experience in web development and has all of the “internet marketing, e-commerce, blogging, search engine optimization, Web Application Development, Social Networking, Social Media Optimization, Graphic Design, Interface Design, text design, etc. “He suggested splitting the profits from advertising, affiliate links, etc. 50/50, and let me 100% of the profit I make recommendations for my private consulting business, but feels too high 50/50. What do you think a reasonable percentage of the profit is shared? Would you recommend splitting profits or any other business model (flat fee, hourly, etc.)? And suggestions how to split a buyout agreement arranged in case we decide how the future so I can keep the fashion page?
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Depends. If you’re smart and use WordPress for the back-end the actual “development” time is 5 minutes. You could do it yourself.
If you want a custom theme there are thousands of really good ones scattered over the net. Check out:
http://www.smashingmagazine.com/
It has loads of good ones listed as well as plugins and tutorials.
If you build 100% from scratch it can take you weeks to get it right. Just go with WordPress. Maintenance… Well that’s done by WordPress anyway. Unless you want to do something special. And even then there are loads of addons and plugins for WordPress that make it all easy.
As for profits, there are two ways to do it. Either take him on as a partner or pay him the rate as a freelancer. Freelancers make anywhere from $15-$70 an hour depending on what they’re doing.
It’s cute that you think you’re going to make money from your blog.
I wouldn’t expect to make much. If you do, more power to you.
If you can do all of what you described, than you don’t need a designer/marketing consultant. If you cannot do what you described and expect to make money, you’ll need to pay him. He sounds like he knows what he is talking about. Whether or not he really does is another issue, but he talks a good game.
You can either split profits or pay him per hour. You’re better off splitting profits because if he spends 20 hours working on it and you agree to pay him at a rate of $50 per hour (reasonable) and your site makes no money, you wasted $1000. Splitting profits ensures that you both are motivated to the success of the project.
Furthermore, it always makes me laugh when someone recommends downloading a free “custom” template. Um, its only custom if it is designed to meet your specific needs. That is the point of custom….to customize it to your needs.
Good Luck!