Thanks again guys!
We've been talking to this guy for a while, and he's been doing some pro bono work for us in the meantime. The goal is to start getting our originals band some better paying gigs, and a manager will have some incentive to do so since he'd be making 15%.
I still have to do some more research on the guy, but it doesnt seem like we have much to lose, since his pay is based on how much the band is making, nothing out of pocket for us. Part of the reason for our interest is that we're just not all that great at networking and making contacts. The few contacts we do have are all for non-paying gigs anyway.
Im thinking this way, myself. As things currently are, our bandleader is doing the managerial duties of booking gigs and dealing with promoters and such, and the truth is, he's just not that great at it. He doesnt know how to be assertive with these guys and make sure we're getting something for our efforts, and I think having a guy who does will certainly be of benefit to us. The way things are now, we're not making much money at all, so I dont really have a problem with someone wanting 15% if theyre actively trying to increase our profitability.