iPhone (app) idea, how much to develop it?

I have an idea for a handy (at least in my mind) application for iphones.
I have zero programming knowledge, thus I will seek the help of developer with app license to program and bring this idea to market.

I was thinking of working on a profit split basis. My thinking is that if I don't make any $$ on this, then my loss is limited. Also, if the developer has a piece of the pie, then perhaps he/she will be motivated to really do an exceptional job.
Of course the down side is that I loose out on a percentage of the profits. I know Apple already takes a significant chunk.

question: given the limited info (above) any thoughts of what a fair split would be? What other concerns should I have?

I already have a confidentiality agreement signed.

Confused. Do you have a developer already?

mattograph wrote in post #8273267
Confused. Do you have a developer already?

I have a person I am "discussing" this with, but nothing contractual.

I'd do a profit share agreement for payment, if the developer is interested. If you make money, they make money. If you don't...you can't lose money. I think offering the developer 20-25% of the net (after apple takes their chunk) is realistic. Make sure the deal includes debugging/app-revisions down the road, though, no matter what the payment scheme is.

AngryCorgi wrote in post #8273784
I'd do a profit share agreement for payment, if the developer is interested. If you make money, they make money. If you don't...you can't lose money. I think offering the developer 20-25% of the net (after apple takes their chunk) is realistic. Make sure the deal includes debugging/app-revisions down the road, though, no matter what the payment scheme is.

thanks Tom, I appreciate your advice.