Me an my brother’s are looking to start an LLC as of the new year, and work on acquiring clients while we all will retain our full time jobs as well.
My question is would it be better to enter a multi-member LLC, or for each of us to aquire individual LLCs and one LLC be the main operating entity, and the others recieve payment through a 1099?
I feel the Seperate LLCs (while startup would cost more) benefits of being able diversify our individual entities would be worth it.
Any thoughts on this? Or any other information, suggestions, or tips are appreciated.
What is the vertical the business will be in? Multi member LLC with and Operating Agreement would be my suggestion for the sole factor of building that corporation’s EIN based credit. Having all parties involved working under one EIN will shortcut the process to get the business cash-flowing on its own two feet, so when money is needed for additional growth, none of you are needing to sign personal guarantees for it. That holds true for even CCs. But all dependent on what type of business it is