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  #1 (permalink)  
Old 09-09-2004, 03:59 PM
Wayne Luke's Avatar
Wayne Luke Wayne Luke is offline
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Incorporation.

So my wife and I are looking to incorporate our business. This is to protect our personal finances as well as our business finances.

Do you think this has a more of an impact on consumers than if they were dealing with a sole proprietorship?
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Old 09-09-2004, 08:35 PM
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Quote:
Originally Posted by Wayne Luke
So my wife and I are looking to incorporate our business. This is to protect our personal finances as well as our business finances.

Do you think this has a more of an impact on consumers than if they were dealing with a sole proprietorship?
This will not only help you Show those Holidays in Bermuda as Board Meetings but it Will also help you build a Corporate Image for your Business

Honestly, Nothing Sounds more professional than a LLC , Pvt. Ltd. or Inc.

My Suggestion - Go in for It and Brand it!
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Old 09-10-2004, 12:29 AM
imusicians imusicians is offline
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Wayne;
There are so many angles to look at this from, I'm getting dizzy.

While a corporation might seem impersonal to some, a sole proprietorship might lack credibility to others. I'm reminded of the old Steve Martin routine about "Fred's Bank", with the TV commercial that started with "Hi. I'm Fred. I have a bank. You got some money? Bring it on over."

On the other hand, others might view a sole proprietorship as inherently friendly, and "hands on"; a corporation might be easier to accept as a "major player".

Bottom line: I don't think the typical consumer cares what the legal structure of your business is. I'd be surprised if 1% of 1% even notice.
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Old 09-10-2004, 01:38 PM
phoenixdown phoenixdown is offline
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Incorporating is good for the reasons you mentioned but given your niche, perhaps people would perfer dealing with a 'mom and pop' type shop for that personal touch. Thats a very big area where you can differentiate yourself.
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Old 09-10-2004, 08:24 PM
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Wayne Luke Wayne Luke is offline
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Well from the way I see it, incorporating doesn't mean it won't be a "Mom & Pop". We don't have to issue stock or have investors. However, it creates a separate legal entity apart from our personal lives.

We are most likely to incorporate just wondering how to portray it in our marketing.
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Old 09-10-2004, 09:40 PM
imusicians imusicians is offline
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Wayne;I think I understand what you mean - your state may have its own statutes, but here in Connecticut I was required to use "Inc." in official company paperwork, like invoices, contracts and such; however, beyond that, it doesn't need to play in your marketing at all.

For example - you don't see commercials for McDonalds LLC, they're just for McDonalds. Not Microsoft Corporation, just Microsoft.

If this is, in fact, NOT what you mean, my apologies.

Regards,
Neil
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Old 09-10-2004, 09:49 PM
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Lord Brar Lord Brar is offline
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Another question here is - What type of Marketing will it be? B2B or B2C
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Old 09-11-2004, 11:20 AM
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Wayne Luke Wayne Luke is offline
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The focus will be B2C but the company will eventually act as a middleman/distributor for some businesses as well.
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Old 09-29-2004, 11:16 PM
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It sounds like a great plan. I wish the wishes my wife and I have for having a company matched so we could merge them together .. but they are not even close.
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Old 11-10-2004, 09:36 PM
Dan Dan is offline
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Why not do an LLC just for the Limited Liability status? It's worth it for the extra paperwork.
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