Hey everyone! I'm a bit stumped. My newly formed company consisted of 2 people with 50/50 ownership. We paid each other equal salaries but our positions were quite different. I'm the photographer and my business partner is the designer. We've learned a ton and fortunately, we kept our heads above water without too many issues!
As time passed, I added on another photographer under contract and I pay her half for portraits and $75 per hour during weddings. We both shoot together now as well.
Here's the issue! The photography side doesn't bring in large lump-sum invoices like the design side does and it doesn't make sense to split everything in the middle now that we have 3 people involved. I was wondering if it was a good idea to have everyone work under the brand and get paid commission. Say, we have a minimum salary and take in a percentage of the work we bring in. This would make the company scalable.
I'm just trying to wrap my head around creating a new business model that is fair for 3 individuals. We all work equally hard and deserve fair pay under a 3 person partnership but I'm having trouble figuring it out...
I suppose we could put 20-30% of each paid invoice into the company and pay ourselves accordingly. (ei., $450 paid invoice. $90-$135 of that goes into the company and $360-$315 is split between the other photographer and I since we both shoot together.) The commission is lower but because we put money into the bank, our minimum income should be covered. (Say we pay ourselves a minimum of $500-$800 per month)
The company's overhead will be a lot lower and our commission is left open-ended. I'm just tossing numbers around and I'll have to reassess our cost of doing business but if you guys have any advice, that would be awesome!