How Can I Run Two Businesses Under One Company?

Can I have 2 businesses under one LLC?

The answer is yes–it is possible and permissible to operate multiple businesses under one LLC.

Many entrepreneurs who opt to do this use what is called a “Fictitious Name Statement” or a “DBA” (also known as a “Doing Business As”) to operate an additional business under a different name..

Does your LLC have to be your business name?

Also, states generally require that the legal name of your LLC or corporation includes certain words indicating your business structure. For example: Corporations. A corporation’s name usually has to include words, like Corporation, Incorporated, Company, or Limited; or abbreviations, like Corp., Inc., Co.,or Ltd.

What’s the best way to legally structure multiple businesses?

Three ways to legally structure multiple businesses:Single business entity with multiple DBAs. … Form separate LLCs or corporations for each business unit. … Create a holding company with separate LLCs or corporations beneath it. … Each to their own — the importance of considering each client’s unique situation.

How do you set up multiple businesses under one company?

Put DBAs under one corporation/LLC. Another common option is to file one LLC or corporation, and then set up multiple DBAs (Doing Business As) for each of the other ventures.

How do you run two businesses at once?

9 Ways You Can Successfully Oversee Multiple BusinessesUse the same physical space to run both places. … Bring the two businesses together as much as possible across processes. … Prioritize what needs your attention. … Try not to sweat the small stuff. … Make lots of lists and follow them. … Use a time-tracker tool for your multiple businesses.More items…•

How do you own multiple businesses?

How to Legally Structure Multiple BusinessesCreate Separate LLCs or Corporations. … Create Multiple DBAs Under One LLC or Corporation. … Create Businesses Under a Holding Company. … Choose Projects Wisely. … Share a Location. … Schedule Your Days. … Track Your Time. … Leverage Your Assets.More items…

What is the first step to starting a business?

Conduct market research. Market research will tell you if there’s an opportunity to turn your idea into a successful business. … Write your business plan. … Fund your business. … Pick your business location. … Choose a business structure. … Choose your business name. … Register your business. … Get federal and state tax IDs.More items…

What do you call a company that owns multiple companies?

A subsidiary, subsidiary company or daughter company is a company that is owned or controlled by another company, which is called the parent company, parent, or holding company.

Can I have 2 self employed businesses?

Sole traders aren’t legally separate from their business, or businesses if they have more than one. This means that you must consider all of your sole trader income for VAT. You must register for VAT when your turnover reaches the VAT registration threshold in any 12 month period.

Can an LLC own multiple properties?

I’m often asked if real estate investors need to create a separate Limited Liability Company (LLC) for each investment property they own, or if one LLC can cover them all. … My answer is typically yes — create an LLC for each property.

Is it good to have multiple businesses?

Multiple businesses can provide financial security. Notice, however, that is only successful startups. For every one successful startup, there are as many as nine unsuccessful startups. … If you want to sit on a future mountain of cash, you may have to start more than one company.

Can I run multiple businesses under one company?

Similar to a sole trader, a company can operate multiple businesses with different business names. … If you own and run multiple separate businesses, you should consider setting up a holding company. Here, the holding company would own all the businesses’ assets and intellectual property.

Is it better to have multiple businesses under one LLC?

The advantage of an LLC is the limited liability it affords its owners. When you run two separate businesses under two separate LLCs, the assets and income of each individual company is also protected from any liability risk which might affect the other company.

Can two businesses have the same name?

Because business names are registered on a state-by-state basis, the fact that a company in another state has the same name as yours is usually not a cause for concern. However, you are right in that there could be intellectual property issues (namely, trademark) when two companies have the same name.

What is the most important part of running a business?

The most important part of a business is people we serve. Our goal is to provide a service to make life easier for both consumers and businesses. Without the people, there is no company.