We are planning to buy a franchise and currently completed our D Day and just got offered to buy them. I already own a LLC for my IT company and aware of the implications to some extent. I know LLC is pass through entity and SCorp can do the same but C Corp is totally separate entity. I know few tax implications as well.
Now this new franchise venture is for my wife and me who plan to start a retail store. We also plan to cobrand with another franchise store at later point to bring another product as well. In order for them to coexists, we have to follow certain rules. Both has to in separate entity and both needs separate space.
1. What entity would be usually good for franchise retail store since it has to maintain employee and etc.,? I know LLC would work but is there any benefit to have it has C Corp.
2. Can I do 2 LLC for those 2 separate franchises and put it under parent CORP?
3. Is it better to do all CORP under master Corp?
4. Can I just start with 1 LLC for now and put it under Master CORP later when we other franchise comes in to play?
Any suggestion welcome