I've developed an idea for a mobile application. Based on research, I believe this application has a great worldwide potential and could be commonly used basically in and kind of business.
I've discussed idea with a trustworthy developer (who is unfortunately unavailable for active participation in project) and he estimates the required time of development as 4-6 months for the basic version.
I'm lucky to be surrounded by potential developers who I trust, so I've already contacted one of the guys who is interested in starting with such a project. Although he's young and looking for new challenges, he's employed full time and he couldn't spend tons of hours to develop the basic version of the desired application. On the other hand, I'm very close to some young students with suitable programming skills who would eventualy want to join our team, but I have totally no idea of how much to offer them in order to start developing the basic version for which I believe could make a great success. Most of the work would still be done by the main developer, but students would have to support projects with smaller tasks.
So how to represent future profit sharing to developers? At the moment I don't have any realistic source of financing so sharing future profit remains the only possible compensation. I was thinking of spliting 50/50 with a head developer and then taking off equally from each two of us for every new student developer.
Please take in consideration, that an idea for the application is already well developed and a business plan is also documented. All start-up expenses (10.000€) and non programming activities (mainly marketing) would be my competence.
Thanks in advance for any sort of advice!