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Whoa Business Options....

Hey all,

I'm just getting ready to graduate from school and have been looking into the myriad of options available as far as work goes. I'm not the most business savvy person on the planet, and was wondering, for those of you who are or have had a business for a while, what kind of business model your using. My very limited understanding is that you can do a sole-proprietor type deal, partnership, or LLC. How complicated are these, would you use them again, what kind of issues did you run into, what did the start up costs look like, and any other terrifically useful advice you have tucked away and would be willing to share!

Replies to This Discussion

Permalink Reply by Jean Ann Scholefield on September 19, 2010 at 6:11pm

Hi Brianna! i'm looking for the same info as you listed above. i'll let you know what i find out.. or if you've found out since you asked would you let me know? My daughter whom is in college right now suggested llc, but hasn't yet given me the details of the differences. Good luck in your endeavours! Jean Ann

Permalink Reply by Becky Howell on August 15, 2011 at 10:07am

First congratulations on your graduation.

Just a quick disclaimer: I would encourage new grads to find somewhere first to get experience (and a clientele!) before you try to add running a full business on top of entering a new profession. You can do this as a sole proprietor as an independent contractor or as an employee.

For running a business, the sole prop. is the easiest way to go - if you keep it small and tight I would recommend this. When (if) you are ready to expand you will probably want to switch to an LLC.