nidena
Senior Member
Joined: Dec 28, 2010 20:32:26 GMT -5
Posts: 3,648
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Post by nidena on Jan 6, 2024 16:20:53 GMT -5
I have four revenue streams in the works.
--One is a directory website for a specific niche market and the stores that sell items in that niche. It exists in a non-monetized way currently but I'm working on the monetization through ads and affiliate links. I currently have a web designer and myself on this team.
--The second doesn't exist yet but I'm working on it and it will be an online Marketplace for EUC, GUC, and NWT secondhand items that are found in the same stores (and larger big box stores) above. I'm aiming to have great filters like ebay but listing pricing like old-school classifieds. My web designer will be finding me the right plug-in or whatever it's called for this. In time, I may need another person to monitor things but that's a ways down the road.
--The third stream is workshops that discuss how garments in the niche market fit and how to find the right fit. I charge an attendance fee. This will always be just me.
--The fourth is a shopping companion service. It's for those who attend the workshop but don't want to or don't feel confident enough to find what fits on their own. I may have another person to assist but that's years down the road.
I'm trying to decide if I should go the route of multiple LLCs or just have an umbrella LLC with multiple dba subsidiaries. I'm okay with robbing peter to pay paul amongst these revenue streams at the present moment but I don't know what I don't know so I'm not sure what questions to ask myself to fully determine an answer. Each stream, except #4, has a name already.
TIA!
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Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,332
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Post by Rukh O'Rorke on Jan 6, 2024 18:19:24 GMT -5
I don't have any info but wanted to wish you much luck with your endeavors!
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jerseygirl
Junior Associate
Joined: May 13, 2018 7:43:08 GMT -5
Posts: 5,388
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Post by jerseygirl on Jan 6, 2024 18:21:23 GMT -5
Suggest just one LLC and EIN number with various DBA Think easier for taxes
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msventoux
Senior Member
Joined: Feb 12, 2011 22:32:37 GMT -5
Posts: 3,047
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Post by msventoux on Jan 6, 2024 22:06:54 GMT -5
One consideration might be asset protection. Would one particular revenue stream have any potential liability issues that might endanger the assets/income of the other revenue streams? I know you can get liability insurance but it wouldn’t hurt to evaluate any potential liability exposure down the road and have a separate LLC to keep that activity entirely separate from the others.
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