First decide what you want out of the deal. Do you want to get into business with a couple guys that seem legit, but on the other hand, you've just met them? If you wound up with a minority piece of the equity, they might see you only as a "service provider" who can be bossed around. What if their idea is good, but their execution sucks? It doesn't sound like they have any track record in web sites.
Whenever anyone suggests you work for "free," that's a giant red flag. Try asking for 50% of the equity. If they balk, quote some numbers. Or use the hybrid approach as others suggested.
Remember this old saying about "spec work." Don't "spec" to get paid.
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First decide what you want out of the deal. Do you want to get into business with a couple guys that seem legit, but on the other hand, you've just met them? If you wound up with a minority piece of the equity, they might see you only as a "service provider" who can be bossed around. What if their idea is good, but their execution sucks? It doesn't sound like they have any track record in web sites.
Whenever anyone suggests you work for "free," that's a giant red flag. Try asking for 50% of the equity. If they balk, quote some numbers. Or use the hybrid approach as others suggested.
Remember this old saying about "spec work." Don't "spec" to get paid.