Forums: Discussions for entrepreneurs and small business.

Hello everyone,

I am new here so hopefully i am posting in the correct place.

I currently own a LLC which is my parent company. I have two websites that are almost completed with DBA's only. I plan on incorporating the websites and giving out percentages of each to other people, then folding my percentage into my parent company and having it own my shares. I own 100% of the parent company and always will. Does anyone hae any experience with situations like this? Would you recommend this path??

I plan to to own the majority of several business' soon and want my parent to own all of my shares so I need to lay the groundwork now.

Thanks in advance, glad i found this site!

Greg

Hi Greg,

What you are talking about is definitely doable, but it may not be the best way to accomplish what you are trying to do. Building an individual website into a corporation can be unnecessarily  troublesome, especially if you are going to do two at once.

I would recommend creating a single corporation to handle the development of both websites. The purpose of the corporation could be to develop and manage various online properties (allowing you to build more websites down the road under the same corporation). When you form the corporation, authorize a limited number of shares to be sold privately. Grant a certain percentage of the shares directly to your LLC and grant the remainder to the other people you were talking about.

I hope that helps

-Dave Ingram

Small Business Entrepreneur Blog

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Hi ,everyone ,I am new here ,I wish I could open my own company in the future !I would like to learn with you !Wish you business runs smoothly!

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