How much do I sell a sauce recipe for?

Hi Folks!  I have a question for anybody out there including any commercial saucers.
 
I will keep it short and sweet... Some friends of mine run a section of a commercial farm where they grow many things including a few hot peppers. They currently sell a hot sauce under their own name made with produce they grow. They have it made at a commercial kitchen and DO NOT have a recipe. I am told they "use" a recipe that the kitchen owns and I guess they pay more for that.
 
They have approached me to develop a sauce recipe for them based on their produce. Thats no problem.
 
When we get down to it they asked what sort of $ I would want. 
 
My question is pretty much do you think I should just sell the recipe at a flat rate or ask for $1 per case equivalent sold, a combo of both?
 
Any opinion is appreciated.
 
Thanks in advance!!!
 
 
 
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