[Okiecontractor]

I'm in the works to buy a local granite and marble counter top shop. I know my accountant and lawyer can fill me in but I hate going into places not knowing anything so I'm hoping yall can help me before I meet with them.

What's the best way to go about setting this business up? I would like to keep the name he has been working under. Do I just say abc construction dba xyz granite shop?

 

[Easy Gibson]

Do they have to be tied together at all?

Can't you just have two separate businesses?

 

[Okiecontractor]

I suppose so. Thats how little I know about all of that. But I would like to hire a guy to run both of them.... just give him two paychecks?

 

[We Fix Houses]

You're buying the business....

What's the need for a second name or business ?

Whoops...like said above - they're 2 separate entities so 2 paychecks.

That's how you would / will be paid also.

 

[EricBrancard]

I suppose so. Thats how little I know about all of that. But I would like to hire a guy to run both of them.... just give him two paychecks?

I would wait to see what your attorney and accountant have to say about it.

 

[philcav7]

This is something that is going to vary by state.

In PA you could take ownership of the new business, keep the same name and have you current "parent" company be the owner of the new biz. The dba scenario as you mentioned.

 

[SectorSecurity]

I think the answer here is going to have to do with how each business is structured. IE, SP, partnership, INC.