Other Divisions?

RYANINMICHIGAN

Anyone have a division of your company non Construction related?. If you do what is it and do you make any money off it? The reason I ask is because my wife works full time in an office right now and I would like to find something for her to do on her own using my company as a shelter. One idea I had is kids Bday parties or those stupid bounce houses everyone has to have at every Birthday and open house.

Giovanni

Ryan, I would talk to your attorney about setting up a new company for her business with completely separate accounting and accounts so that if either company gets sued, the other will still exist and operate. From a practical standpoint running different business on one set of books can often be very confusing and prone to errors.

We faced both of those issues when we started doing specs along with our for customer work. We set up a new company for the spec work and our bookkeeper was much happier. She could be in spec mode for one day working on that company and then the next be in customer mode for the day.

nobull1

Ryan

We have a excavating/landscaping company as well as a farm business. Over the years it has been more advantageous to run them separate for liability and tax reasons. If the businesses are somewhat related you can provide services or products from one company to the other to offset the costs of owning two businesses. If I could, and it made sense, I would have more separate companies doing business with each other.

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