Building affiliates

Hi All!
So my boss has asked me to build up an affiliate group for our company. While I do have some affiliate experience, I’ve never built a team up and just need general advice on where to find people that are into affiliate marketing etc.
Our payout is $50/buying customer (regardless of price of the items purchased) for the initial purchase from each new customer brought in. I think (while very high for affiliate marketing) it’s a large enough sum to get affiliates on board, is there something else we should look at and do?
this is our affiliate signup page as well, while the verbage and terms are still being analyzed for whats most beneficial for "all", does this seem reasonable? http://www.pennygrab.com/affiliate.php
Thanks for your time and your feedback!

See original post by MrMOJO