Today’s small business owners often earn income through a variety of ventures. For example, a restaurateur may open a wine shop or a caterer may also double as a part-time copy editor.
If you’re running multiple business projects, you’ve probably wondered what’s the best way to structure all these ventures. Should you form one corporation to cover them all? Should you form an LLC for each one?
You need to answer these questions from both a marketing and legal perspective. For marketing, you need to consider the markets and target customers for each venture. Are they synergistic? Are they relevant and will they appeal to the same customer?
If so, it makes sense to market them under a shared brand. For example, it may make sense for a restaurant and side wine shop to share the same branding.
In other cases, your businesses might target different customer types (for example, the copy editor and caterer). In this case, you want to use different websites, business names and branding for each venture.
But how do you structure multiple business ventures from a legal perspective? Continue reading “How to Set Up and Structure Multiple Businesses” »