Starting an LLC: Where to begin?

Anonymous · 2003-10-06T15:46:17+00:00

I was wondering how much it actually costs to register a business name? Is the fee the same everywhere, or does it vary depending on which city you're in? Also…

Charles Ramos7 Regular

529 messages
joined Jul 2010

#261 · Jan 5, 2008

Timothy Jackson3 said:Can I list a vehicle as my initial capital?
I mean—could I just put down my own car?

You can only count up to half of the required amount toward assets, and you'll need an official appraisal for it. Honestly, it’s not worth the headache. It makes more sense to just sell the car, use that cash to start the business, then loan the money back to the company to buy a different one.

Emily Kelly5 Newcomer

2 messages
joined Jan 2008

#262 · Jan 7, 2008

Hey everyone...

I'm looking to set up an LLC, but I'm honestly not sure if I can pull off what
I have in mind—so I could use some advice here...

Here's the deal: I want to open a private daycare center. Right now, I'm a part-time student at
state college studying business. I've already got my associate degree and now I'm working toward my bachelor's (if that even matters, though
I doubt it does much).
Is it actually possible for me to start a company where the main thing we do is childcare
and supervision, even if my actual background isn't anywhere near that field?

If it is doable, what would my role look like? Like, am I the director, the owner, just an employee, or
some weird hybrid of all three?

The thing is, I really want to get into this industry, so this is pretty huge for me. Basically,
can I actually run the show—as in being the sole employee of my own company—even if I don't have
the formal credentials for it?

One last thing: how much of a headache is the paperwork? Can I just handle all the bookkeeping myself, or
am I forced to hire a professional accounting firm?

Thanks a ton in advance...

Cheers

Charles Ramos7 Regular

529 messages
joined Jul 2010

#263 · Jan 7, 2008

Emily Kelly5 said:Hey everyone...

I'm looking to set up an LLC, but I'm honestly not sure if I can pull off what
I have in mind—so I could use some advice here...

Here's the deal: I want to open a private daycare center. Right now, I'm a part-time student at
state college studying business. I've already got my associate degree and now I'm working toward my bachelor's (if that even matters, though
I doubt it does much).
Is it actually possible for me to start a company where the main thing we do is childcare
and supervision, even if my actual background isn't anywhere near that field?

If it is doable, what would my role look like? Like, am I the director, the owner, just an employee, or
some weird hybrid of all three?

The thing is, I really want to get into this industry, so this is pretty huge for me. Basically,
can I actually run the show—as in being the sole employee of my own company—even if I don't have
the formal credentials for it?

One last thing: how much of a headache is the paperwork? Can I just handle all the bookkeeping myself, or
am I forced to hire a professional accounting firm?

Thanks a ton in advance...

Cheers

The full details are right here: http://www.nytimes.com/articles/official-report.htm 😉

analogscout482 Newcomer

2 messages
joined Jan 2008

#264 · Jan 14, 2008

I have a quick question for the group—and feel free to tell me if this is slightly off-topic, though I think it’s pretty relevant! What does it actually take to get a professional cleaning service off the ground? I'm looking at focusing on commercial contracts, like cleaning up office buildings and corporate workspaces. Any advice or checklists would be hugely appreciated!🙏

Charles Ramos7 Regular

529 messages
joined Jul 2010

#265 · Jan 16, 2008

analogscout482 said:I have a quick question for the group—and feel free to tell me if this is slightly off-topic, though I think it’s pretty relevant! What does it actually take to get a professional cleaning service off the ground? I'm looking at focusing on commercial contracts, like cleaning up office buildings and corporate workspaces. Any advice or checklists would be hugely appreciated!🙏

As far as I know, nothing too crazy—just register the LLC, hire some help, and grab a mop! 🙂

analogscout482 Newcomer

2 messages
joined Jan 2008

#266 · Jan 16, 2008

To’s honestly not even a big deal for me, mostly because I’m just stumped on what to actually call it; should I be looking at an LLC, a sole proprietorship, or something else entirely🤷!

Charles Ramos7 Regular

529 messages
joined Jul 2010

#267 · Jan 16, 2008

analogscout482 said:To’s honestly not even a big deal for me, mostly because I’m just stumped on what to actually call it; should I be looking at an LLC, a sole proprietorship, or something else entirely🤷!

You might want to dig through some of the older threads first. It’ll help you get a handle on the differences between running a small business versus a full corporation and the pros and cons of each.

analogfox24 Member

12 messages
joined Oct 2007

#268 · Jan 23, 2008

Greetings.

Back in 2007, my small business hit the $300,000 revenue mark—which, by law, meant I had to transition into a corporate tax filer starting January 1st, 2008. I filed the necessary paperwork with the IRS, so now I’m managing full double-entry bookkeeping and issuing formal invoices.
The question at hand is whether I should stick with this sole proprietorship setup or finally pull the trigger on forming an LLC.
In theory, being a sole proprietor works fine for me—it's much simpler when handling cash transactions—but since those days of easy liquidity are largely behind us, I find myself stuck in a bit of a dilemma. Has anyone here navigated a similar transition?

My apologies if this is off-topic.

analogfox24 Member

12 messages
joined Oct 2007

#269 · Jan 24, 2008

So, truly? Not a single soul?🤷

Charles Ramos7 Regular

529 messages
joined Jul 2010

#270 · Jan 24, 2008

analogfox24 said:So, truly? Not a single soul?🤷

Did you leave out too much info to get a real answer? I'm mostly an LLC guy myself, though I see why some people prefer being a sole proprietor—especially in industries like construction where there's a lot of cash moving under the table.

analogfox24 Member

12 messages
joined Oct 2007

#271 · Jan 24, 2008

neno1966;12323506 said:Did you leave out too much detail to get a meaningful answer?

I run a manufacturing operation along with a few seasonal general retail shops—and frankly, I’ve been doing everything in my power to ensure this transition doesn't bankrupt me, especially given the massive amount of outstanding tax receivables tied up in production.
I find myself in a bit of a bind because the accounting and financial side of things is shifting into an entirely different beast—even if the day-to-day operations remain steady.
I am considering one alternative: opening a separate small business under my husband's name to split the workload and the liability.
I just don't know...

Charles Ramos7 Regular

529 messages
joined Jul 2010

#272 · Jan 27, 2008

You’re essentially in the same boat as an LLC right now, so you wouldn't really gain or lose much by making the switch.
I don't know anyone who's dealt with this exact scenario, but maybe setting up a sole proprietorship for your husband while keeping your own LLC running would be the smartest move. It's worth checking in with your accountant.

Susan Fowler7 Newcomer

3 messages
joined Feb 2008

#273 · Feb 13, 2008

Hey everyone. Does anyone have the lowdown on importing specific goods? I’m looking into starting a health food business. I already have a storefront lined up and I'm planning to set up an LLC. Honestly, the whole thing feels more like retail to me. I briefly considered setting up a travel agency instead, but I don't know the first thing about that.

Rachel Cruz9 Newcomer

1 message
joined Feb 2008

#274 · Feb 13, 2008

Hey everyone,

Since I’ve decided to launch my own freelance business focusing on IT consulting, I was wondering if I can register additional activities under the same umbrella—things like import/export or other service-based work? Or does that fall into those strictly regulated categories? I know when you set up an LLC you can basically add an unlimited number of business lines, so I'm curious how it works for a sole proprietorship and which route actually makes more sense financially. 😕

Thanks in advance!

Charles Ramos7 Regular

529 messages
joined Jul 2010

#275 · Feb 14, 2008

Susan Fowler7 said:Hey everyone. Does anyone have the lowdown on importing specific goods? I’m looking into starting a health food business. I already have a storefront lined up and I'm planning to set up an LLC. Honestly, the whole thing feels more like retail to me. I briefly considered setting up a travel agency instead, but I don't know the first thing about that.

What does a travel agency have to do with retail?!🤷

Susan Fowler7 Newcomer

3 messages
joined Feb 2008

#276 · Feb 15, 2008

It doesn't really matter, I was originally thinking about starting a travel agency, but now I’m leaning towards opening a health food store. Does anyone here actually have experience with this kind of stuff?

driftingotter21 Newcomer

1 message
joined Feb 2008

#277 · Feb 20, 2008

So, I’ve got a question too... if I wanted to start my own adult production studio—and I mean like, a legit business, not some basement operation—am I gonna run straight into a brick wall of legal trouble? And look, if I actually go through with this and need a hand, is there anyone in this group who actually knows their way around this industry and could help me out? I'll give you guys a heads-up before I dive in... thanks.

Charles Ramos7 Regular

529 messages
joined Jul 2010

#278 · Feb 20, 2008

I guess this would fall under:

59.11 Motion picture, video, and television program production
59.12 Post-production activities for motion pictures, videos, and television programs
59.13 Motion picture, video, and television program distribution

northernharbor73 Newcomer

1 message
joined Mar 2008

#279 · Mar 4, 2008

Hi there.
Does anyone know of any solid training programs for entrepreneurs who aren't exactly newbies, but are still relatively fresh in the game?
I’m looking for something reasonably priced that covers the essentials—stuff like sales techniques, presentation skills, basic accounting, team management, and so on.
Are there any local business associations or organizations out there that support entrepreneurs by offering this kind of education?

rapidpuma43 Member

23 messages
joined Oct 2005

#280 · Mar 7, 2008

I wonder if people actually realize how much weight their words carry? Is it just noise to them? Or do they think about the ripples? Sometimes I feel like we all just shout into the void without checking if anyone is actually listening. Does it matter? It feels like it should. The user says:
I have a few quick questions regarding the process of setting up an LLC.

What are the minimum monthly contributions required for an LLC (if there are any at all)?

When you first set up an LLC, how exactly do you decide which business activities to list? Is there a limit to how many different industries you can include under one umbrella? And what’s the actual cost involved in adding more later on? What does that whole process look like?

How does it work when you want to launch a second business under an existing LLC? For instance, if I already have an LLC registered for hospitality services and I decide to open a cafe, are there any actual advantages to doing that compared to just starting a "clean" standalone cafe as a sole proprietorship?

That’s just how it works... isn't it?

roughly 2.$0.00 Living on minimum wage? Is that really enough to get by?
Man, you walk into one of those places... what do you call them again? 🥳So... quick thought. I think that site is somewhere over in D.C., right around where all those massive federal agencies and government headquarters are clustered. You know, like if you told a high-ranking official in the capital that you actually wanted to start your own business.😁
The possibilities are endless. It really just comes down to how much imagination you have.
Shouldn't you just register everything? All the things you think you might want to do, the things you could see yourself doing one day, and even those random ideas you’re sure aren't for you right now but might actually make sense down the road? Why limit yourself?
So, the initial setup is free, right? But then you get to the part where you actually have to pay for the top-up procedure. Why does it work that way? Is it always like this?😉
I don't really see why someone would bother starting a sole proprietorship tied directly to their personal assets. As far as I understand, if you already have an LLC set up, wouldn't it just be easier to adjust your existing business activities?🙄

Starting an LLC: Where to begin?

🔗 Similar threads