Please upgrade your web browser

These pages are built with modern web browsers in mind, and are not optimized for Internet Explorer 8 or below. Please try using another web browser, such as Internet Explorer 9, Internet Explorer 10, Internet Explorer 11, Google Chrome, Mozilla Firefox, or Apple Safari.

AdvisorNet

Starting up a web-based business - benefits of becoming an LLC vs. a Series LLC?

Veteran

Megan Wollenberg Honolulu, HI

Military spouse here. Was told to join AdvisorNet.

Small business start-up. Trying to apply as a certified woman-owned business through the SBA so I reached out to a Score mentor and they referred me back to the SBA. Thing is, the SBA doesn't provide much insight.

Blog is up. Currently writing an ebook. Working to establish my brand.

What is the next step? Is it the chicken or the egg?
I need to trademark my business name. Apply for a LLC or Series LLC, but I don't know which one I should choose. And I need to register with state and federal for tax ID.

So much that I don't know and I'm willing to learn. But I thought my score mentor could help me. I was wrong unfortunately.

2 July 2019 5 replies Small Business

Answers

Advisor

Robin Hicks Naperville, IL

As a budding business owner you may want to consider WBENC (Women's Business Enterprise National Council (https://www.wbenc.org/), either for advice or certification.

Veteran

Megan Wollenberg Honolulu, HI

Thanks All. I signed up for an ACP mentor but with the time difference, I can't take off an hour of work to be able to complete the call just yet. I have to wait for a day I have off.

My SCORE "mentor" threw a few bullet points at me about signing up with state/federal/LLC/trademark but nothing helpful. I've never felt more lost.

So I sent a request to the Rosie Network. We'll see! I have very limited capital and I'm just trying to establish myself in the industry right now.

/mw

Advisor

Edward Canada Orlando, FL

Hello Megan,

I started my own LLC a few years ago. I currently work with small-business owners on exactly what you're currently doing - marketing and branding and growing your business. I would ask you a few questions - already making a profit? Why start the LLC? What's your short term and long-term goal? What is the purpose of the e-book? Sorry, bad habits of enquiry! Short answer to all your questions - it depends upon your purpose. Please, feel free to message me with your questions!

Sincerely,
Ned Canada

Advisor

Jennifer Polhemus Santa Monica, CA

Don't jump into LLC yet. LLC involves extra paperwork and often an annual fee ($800/yr here in Calif) & may not be necessary.

Two pieces of advice:

1. Contact APC and request a formal spouse mentor. This is a new program, no charge to you, and would be of great benefit I think.

2. Check out Nolo Press https://store.nolo.com/products/business-suite/starting-your-business. They have excellent reference books for starting & running a business & happen to be having 30% off sale now.

Feel free to PM me for more detailed questions.

Advisor

Jenna Lambdin Seattle, WA

Hi Megan,

Before you register your business, I would first consult with a tax specialist to discuss the differences between an LLC and Series LLC. They can usually give the best insight on what is best for your business model. Outside of my 9-5pm job, I own my own LLC. There is quite a bit of leg work up front with getting your business going and understanding the tax implications. My business sounds different from yours (I sell handmade macramé goods), but I'm happy to discuss establishing a brand and marketing with you, as well. Feel free to direct message me on here and we can discuss further!

Your Answer

Please log in to answer this question.

Sign Up

You can join as either a Veteran or an Advisor.

An Advisor already has a career, with or without military experience, and is willing to engage with and help veterans.
Sign Up as an Advisor.

A Veteran has military experience and is seeking a new career, or assistance with life after service.
Sign Up as a Veteran.