How to build joint venture partnerships.
In today’s video we follow Samuel and Amanda as they head to Doncaster to attend a meeting with the view of starting a joint venture partnership.
When developing and building property Samuel knows a good solid building team is key. With this is mind he has set up a meeting with a team that has had previous partnerships with some of his contacts.
We see Samuel and Amanda attend several of the sites the company is currently working on, giving them the opportunity to see the standard of work and to get to know the team. They then sit down to discuss what a joint venture partnership would look like and how it would work for all involved. After talking through many examples and sharing ideas the meeting closes on a positive note.
Both parties have lots to offer. The building team has great expertise, experience and knowledge of the area and Samuel has great property knowledge and the finances to get things moving. In this instance a joint venture partnership could involve the building team finding the land, building the properties at cost and managing the project. Samuel would provide the funds to pay for the land and once completed the two parties would share the profit. This is a great investment for Samuel as bar providing the money to purchase the land he is not required to have much involvement, and the building company are able to take on projects they would not normally be able to, due to limited finances.