Question is kind of similar to this one: Someone interested in being a private label / marketing partner, what do I need to know?
I have SaaS solution for specific industry. And my company is very small.
I was approached by big player in the same industry (competitor) but with much lesser product. They said exactly this: "We would like to present your product as ours. It will have to be private labeled".
I understand where they coming from. They, as a big company don't want to be reseller for me. But I'm not sure what I should take into consideration going into a deal like this. I definitely won't give them access to sources and will host service myself. Changing branding and maintaining will definitely take some resources.
From my standpoint - 50/50 split on income will make sense. They will sell and support. I will do support to THEM, not to end customer. And I will host and maintain service.
But I'm not sure if there is still catch in situation like this? How do we go about selling/promoting to the same customer? It's the same market.
Also, what IS private labeling? Is that like "COMPANY A" and fine print says "Powered by company b" or something else?