Ok, so I'm a developer. I was approached the other week by a friend who had an idea for a website that he wanted to make, and he came to me because a) we know each other, and b) I've given him useful information before. He pitched me his idea and I agreed it had potential.
A week or so later, he's given me a potential contract to sign, which gives me a percentage in the high 20s, which will probably get reduced when we bring on the second developer (for the front end, which I can't do).
Although he has the ability to bring in capital, I don't think much capital will be needed. I feel as though I should be given the equity of a full co-founder. It's not a huge website idea, but I'll be responsible for all the back end code. I'm not getting paid at all.
What should I counter his offer with?
EDIT: I don't know if this changes anything, but we're both in college and will be doing this part time.
I completely understand and appreciate your point of view, but here are some things you may want to consider (if you haven't already) before you try to negotiate a larger stake.
Just my two cents. Good luck!
Only you can answer that, but maybe a few "back of an envelope" calculations will help.
Consider the following:
If you think about all of these questions, it should hopefully help you to become clear about your path.