I’m not sure where else to turn for advice on this, but at a bit of a crossroads and not sure what to do next.

TL;DR: have an awesome & unique product but no cash. Sell IP & ownership for minority stake in successful company or try and raise the capital to get it done myself?

I created a beverage which is an “alcohol alternative” that still gives a little glow/buzz without the use of alcohol or other illegal/regulated substances. The product works, and I have created a couple small scale batches for release to friends, family, etc and got great reviews for taste & effect. I have 2 more flavours I’ve developed and a roadmap for how distribution would look.

Now, I was approached by a guy that I let sample the product this weekend and he offered to partner up, and get this thing off the ground in a meaningful way. It would come under his label of existing products as an extension of the portfolio and tap his distribution channels, etc. this comes at a cost of giving up the IP & recipe to hold a minority stake in the sub-company

Second option:

Raise the capital, and retain full ownership over the IP & hit the ground running.

The first option is easy, but the drawbacks are so huge in the long run. I can see this taking off and giving up such a large piece is not a great feeling.

Second option is a bit harder as I’m not sure how to raise the capital needed. I have a business plan, and the confidence in the product and an ability to sell. But I lack the start up capital to get the first real batches in production along with the ancillary stuff such as website, and a bit of swag/promo during the initial sales kick off.

What would YOU do!?

And tips/advice would be stellar! Location: Canada