2 ms·
The LLC owning all the brands would be fine, if they are all web apps. Web apps typically have little liability risks. I have put several brands under one LLC,
by gregpilling 15y ago
The LLC owning all the brands would be fine, if they are all web apps. Web apps typically have little liability risks. I have put several brands under one LLC, and then used the 'class' feature in Quickbooks to give each brand each its own P&L. I keep my building in a separate LLC from the rest to protect it. I feel there is enough liability in owning a business with slip/fall type lawsuits to segment the assets, since we deal with the public (non-tech business).
The ability to separate the financials with 'class' was the most useful part. Split LLCs force you to do this because they by definition needs their own P&Ls, but make it hard to figure out what to bill for each business. For example you may have an accounting expense - which LLC do you bill it to? Split evenly amongst the apps, or proportionate to what each earns?
If you have one LLC with many brands, if you want to sell one off then the 'class' segregation will let you show a potential buyer how profitable it is by itself.
notes: I am only familiar with QB, I am sure other software does similar functions