
08-08-2008, 08:23 PM
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Senior Member
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Join Date: Aug 2008
Posts: 321
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First, a single person CAN have an LLC to protect themselves from lawsuits, especially nice when you produce a product that COULD be grounds for a lawsuit. Secondly, if you are going to have real estate involved, consider a serial LLC owned as a subsidiary of your LLC for the company where each building would be a separate LLC in the serial. Don't tie up your business in the serial since your business has totally different operating needs. Thirdly, create an operating agreement for yourself so you KNOW how things should be done if you ever get a partner or an operator who manages it for you or perhaps even multiple locations or franchises. Use the State Statutes standard agreement and rewrite those areas that do NOT operate as you would want them to. Make it specific to your own needs and wants. Don't get into too much detail on how you are going to operate... just stick to the basic outline in the statutes but make it YOURS. Take it to a lawyer and have him vouch that it is legal. Then put it in a book with your company papers to serve as your company BIBLE. Good Luck.
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