Management / Equity Agreement - STORAGE UNIT Partnership?

[Brian Black]

I have an accepted agreement for a storage unit facility under my company. A regional businessman is interested in joining this venture. I approached him regarding a possible management agreement (they have storage units in the area already). They mentioned a possible interest in equity as well. His company is well respected and I have worked with him on his prior business as a customer.

I would expect if he managed there would be a reasonable fee but don't have experience in storage units / management fees.
What is a typical fee arrangement for running storage units off-site (following technology updates to facilitate this model as best as possible)?
Would this fee be expected to be the same independent of partner status or not?

I would expect a plan 50/50 split if both are bringing equal capital. Does anyone else see a different split expected?

Options / Risks / Benedfits / Alternatives to consider?

Thanks!