So, I am one of a two member LLC with my sister. We are a new business (one year). I am pretty much researching and figuring out things as I go. We are a wedding floral design business, so the overhead is fairly small and we have tried to keep everything manageable while I figure it all out. I'm starting to feel more comfortable with everything. I set up the LLC, figured out invoicing, accounting, sales tax, website, advertising, etc.
I just met a girl who is also a wedding florist. I've already referred business to her when we couldn't take the order. She's a little loose when it comes to the business side of things and needs help. She asked if I could help her with set up, accounting and client management of her business. This is something I would like to do and have time for, but it seems weird and conflicting to work for two directly competing businesses. I've been trying to think through what I should do to protect myself and her interests in the event that I do help her manage her business. I'm also trying to figure out the best compensation schedule. She's pretty open to my suggestions.
The other thing is that I just found out my sister may not want to continue with our business long term or even short term. She is the florist of my floral design business and as we are becoming more successful, she is starting to get overwhelmed. I think she likes the idea of doing it as a hobby, but not as an actual business. I, on the other hand, want to have my own business and grow it the best I can. I told her that we could hire some help, especially for big weddings. I help her out, but I'm not a florist and I don't really want to be. I like ordering, managing and dealing with clients. I'm wondering if it would be a crazy idea to ask this other wedding florist I have been talking to about joining us. She has her own name and a website, but hasn't even set up a business. She needs a lot of help in that area. I am wondering if it is possible to have both dbas under my umbrella LLC. Each of "my" florists would be able to keep their same business names, logos and websites, but I could manage both and buy materials and everything under the parent company. That way I can help either florist, hire help as needed and if my sister decides she is done, I won't be up a creek, so to speak. That dba would just close up and we would continue under the other florist.
I will definitely be consulting an accountant and/or an attorney before actually making any decisions, but I want to think out my options and see what suggestions you guys had.
Also, if I hire help, am I correct in classifying them as an independent contractor. They would only work on weddings that they are available for and would be extra hands on an as needed basis.
I just met a girl who is also a wedding florist. I've already referred business to her when we couldn't take the order. She's a little loose when it comes to the business side of things and needs help. She asked if I could help her with set up, accounting and client management of her business. This is something I would like to do and have time for, but it seems weird and conflicting to work for two directly competing businesses. I've been trying to think through what I should do to protect myself and her interests in the event that I do help her manage her business. I'm also trying to figure out the best compensation schedule. She's pretty open to my suggestions.
The other thing is that I just found out my sister may not want to continue with our business long term or even short term. She is the florist of my floral design business and as we are becoming more successful, she is starting to get overwhelmed. I think she likes the idea of doing it as a hobby, but not as an actual business. I, on the other hand, want to have my own business and grow it the best I can. I told her that we could hire some help, especially for big weddings. I help her out, but I'm not a florist and I don't really want to be. I like ordering, managing and dealing with clients. I'm wondering if it would be a crazy idea to ask this other wedding florist I have been talking to about joining us. She has her own name and a website, but hasn't even set up a business. She needs a lot of help in that area. I am wondering if it is possible to have both dbas under my umbrella LLC. Each of "my" florists would be able to keep their same business names, logos and websites, but I could manage both and buy materials and everything under the parent company. That way I can help either florist, hire help as needed and if my sister decides she is done, I won't be up a creek, so to speak. That dba would just close up and we would continue under the other florist.
I will definitely be consulting an accountant and/or an attorney before actually making any decisions, but I want to think out my options and see what suggestions you guys had.
Also, if I hire help, am I correct in classifying them as an independent contractor. They would only work on weddings that they are available for and would be extra hands on an as needed basis.
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