Structure of large partnership & retain control

I am setting up a large scale partnership starting with 1,000 and hoping to reach 10,000

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I am hoping to bring together a large number (1,000 to start but hoping to rise to upwards of 10,000) of fellow business people in the same sector to build an online advertising platform that "we all own" and pay a fixed "membership fee" which will essentially be spent on marketing/advertising the platform with the view that it won't make a profit.

My only concerns are that it is my idea, I am going to bring everyone togther and manage it whilst hoping to make it a platform owned by us all, I need to safeguard my position so I can't be ousted and also will need to earn a decent wage from the business, what structure is best to do this? 

Thanks in advance for any help and sorry if this is not the usual sort of question being asked on here!!

Replies (11)

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RLI
By lionofludesch
25th Jan 2024 08:31

Good luck!

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Ivor Windybottom
By Ivor Windybottom
25th Jan 2024 09:00

Have you spoken to an accountant and a lawyer?
What did they say?

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By Ruddles
25th Jan 2024 09:20

it won't make a profit

Partnership Act 1890 s1(1)
LLP Act 2000 s2(1)(a)

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By Duggimon
25th Jan 2024 09:47

If I was starting a business partnership with 1K - 10K partners I know free anonymous internet advice is the route I'd take to secure its future.

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Replying to Duggimon:
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By bernard michael
26th Jan 2024 09:39

Duggimon wrote:

If I was starting a business partnership with 1K - 10K partners I know free anonymous internet advice is the route I'd take to secure its future.


Ironic or sarcastic?/
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By paul.benny
25th Jan 2024 10:41

A partnership almost certainly isn’t an appropriate structure for the venture you describe. Trade associations often work on the basis you describe although they are not partnerships. They are usually controlled by their members through some sort of elected committee structure and with some paid staff - but without an individual "owner" as you seem to want to be.

As others have said, you need proper advice. FWIW, I think you have a challenge in getting enough members paying fees to cover the costs of building, running and marketing your platform and paying you a salary. To get there, you will likely be loss-making for a number of years before you’ve built enough momentum.

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By Wanderer
25th Jan 2024 11:16

Do you really have any grasp of the problems you are bringing to the table structuring this with 100 partners, let alone 1,000 or 10,000?

It's very unlikely that anyone involved in your venture will be willing to become a partner. I'd advise any of my clients to avoid it at all costs.

Drop the idea, it's just silly & completely inappropriate.

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By Montrose
25th Jan 2024 13:02
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By Montrose
25th Jan 2024 13:02
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By bernard michael
26th Jan 2024 09:42

Your local Capo dei Capi would probably be able to help as he probably offers a similar arrangement

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RLI
By lionofludesch
26th Jan 2024 09:52

It's not really a partnership, is it?

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