Business Planning includes Business Formation, Protection, and Continuation. It includes agreements to buy or sell a business, and a plan to pass a business from one generation to the next. Business Planning involves a formal statement of how, and by whom a business will be owned and operated. Most of the time when people want business planning from our office, they say, " I want to start a business."
Start Your Own Company.
When you go into business for yourself, do what will work best for you. Whether it is a Limited Liability Company, a Small, Closely-Held S-Corp Corporation, a Partnership, a Limited Partnership, or a large C-Corp Corporation; do yourself a favor: set up your business to protect yourself, your family, your home and your cars.
Protect Your Company
At every stage of business, whether you are beginning, expanding, taking on another owner or partner or closing your doors, the law affords you, and your business protections. Protect your stake
in the business, and your personal assets from creditors. Your business is there to insulate you, and your assets. You trust the person you bring into your business, but make sure you do it
Whether you have bought and sold them many times over, or you intend to buy or sell your first, seek professional help to do it right. Will the sale include the existing identity of an ongoing
business, or just the businesses other assets? Have you been offered, or are you ready to offer a franchise agreement? Be sure to understand all rights and obligations.
Business Continuity Plan
When you die, retire, or can no longer work, what will happen to the business you built? The best answer to that question depends upon what plan you make now. We see family businesses do well when
they are prepared well. Chances are you really would not like the answer to that question if you have not planned it out. We call a plan like that a Business Continuity Plan. Often it involves tools
to pass a family business on to the next generation. You don't plan to fail, so don't fail to plan.