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.
Can you run two businesses at once?
You can create separate LLCs or corporations for each of your businesses, because there’s no limit to how many a person can form. The biggest advantage to this approach is that each business won’t have to assume the risk of the others; they’ll all be legally and financially protected from one another.
Can one person have multiple LLCs?
As long as the businesses are distinct and separate, there is no limit to how many LLCs a single individual can create. A business owner has to comply with the formation requirements for every LLC that he creates. To form an LLC one has to file a Certificate of Organization, separate for each LLC.
How do you manage multiple LLCs?
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.
Can an LLC be a holding company?
A holding company is a parent business entity—usually a corporation or LLC—that doesn’t manufacture anything, sell any products or services, or conduct any other business operations.
Can you have multiple businesses under one LLC?
Next, you file DBAs or fictitious business names under the business entity for each of the business ventures the company owns. You create a holding company like “My Business Ventures, LLC” and then you file DBAs for each of your ventures, like “ABC Accounting Consultants” and “Smart Mouth Music.”
Who are the two members of a LLC?
Many business owners form LLCs because this structure has fewer ownership restrictions and protects their personal assets from business liabilities. The most popular types of two-members LLCs are businesses run by a husband and wife or businesses with friends as partners.
What are the advantages of having two LLCs?
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.
How is a LLC different from a business?
Under this setup, multiple LLCs run separate businesses. Example: Dan’s Bike Shop LLC runs a bike shop while”Mike’s Motorcycle Store LLC runs a motorcycle store. Note that the two LLCs are entirely separate and unrelated entities that run their own respective businesses.
