Hi Robert. Congratulations on being in the position to expand your fitness business! Wow, a ‘template’ agreement to form a partnership. I would caution you that in our business, there are definitely places where you can ‘cut corners,’ but in my opinion, drafting a partnership agreement with an unrelated person/entity would NOT be the place I would want to do that if I were you. I highly recommend finding a local attorney with experience working with small business contracting (preferably in the fitness industry) to help you with this. I think that this is too important to try to fashion such an agreement by yourself unless you have legal training/education.
My two cents!
I wish you luck!
Another vote for what LaRue said. You won’t realize how much this will save you because if you follow the advice, you probably won’t have nearly as many problems. For the short term, it might be a decent chunk of change, but think about the alternative. What if a poor agreement lead to your potential partner taking advantage of you or your business?
All the best,