Multiple businesses under 1 corporation

Discussion in 'Growing and Managing a Business' started by M1287, Jul 17, 2013.

  1. M1287

    M1287
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    I've been doing some research online to see if I can find the answer on my own but I have had no luck. I looked up "business forums" on Google and found this website so I hope I can get some assistance.

    My father and I started a business that manufactures clothing for other companies, our own clothing, and will have a retail store front right in front to actually sell them, and even do custom tailoring and alterations. Let's just say we called it A-INC. Not much has happened yet besides getting the factory prepared but we're hoping to begin next month. I'm actually hoping we can even make our own fitness clothing, and sell electronics and nutritional supplements along with it because I'm into that type of thing outside of work.

    On top of those ideas, I was given another business proposal that has nothing to do with clothing or fitness. It's basically getting involved with an IT company that provides support to customers. I don't know the exact details, but that alone tells you that it does not fit in with the rest of the ideas that we have. My father is telling us to just get involved using A-INC, but I do not know if that's legal or not. Our friend that gave us this proposal said we definitely need a corporation to be involved. While I'm sure most people would not recommend it since it's completely unrelated to what we have started, what's more important to me is whether it's allowed or not.

    If anyone can help, I'd really appreciate it.
     
  2. thealchemist

    thealchemist
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    Well first I'd like to say the businesses you are involved in sound very exciting!! What I would suggest is looking into getting an LLC for the IT business. I'm not a very good historian, but I do know that LLC's are quickly being to new "corporation" of the modern day. They carry most of the same benefits and hardly any of the down sides of not having a corporation, and they are the most recommended ways for anyone starting a small business to go so as to have that same corporation "protection".
     
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  3. Business Attorney

    Business Attorney
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    Yes, it is allowed. There are certain regulated businesses (banking, insurance, etc...) that may have to be operated in their own separate entity, but generally there is no legal reason why a corporation cannot conduct unrelated business operations under one umbrella. There are certainly business reasons for not doing so, however, since you are exposing the assets of all of the businesses to the potential liabilities of each of the other businesses.
     
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  4. AnushaJain

    AnushaJain
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    I think to make the work more fearless you can do a very good thing is that make the links between all the businesses you have that means if you have to sell nutrition supplements,link it with fitness.If you have to enter into an IT zone,then make some software related to clothing and supply service so that the work will become legal also,and it will be seen as a single team of work rather than different fields..
     
  5. a4creations

    a4creations
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    I am working in the Garment manufacturing company and i know our company A4creations also have the LLC ..
     
  6. FaaastCash

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    Yes, it’s possible. A business owner can have many different businesses under One Corporation but have to fill a DBA for each business.
     
  7. nasifabg

    nasifabg
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    I have a internet based business and was thinking to start off a new business unit but wasn't too sure if i can incorporate my other business within my registered business. After going through various views i think its possible to do so.
     
  8. Joseph.Shivell

    Joseph.Shivell
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    I am not a business law expert, but I do know there is a business entity called a "holding company", which is basically a business that owns a variety of businesses, and that is all they do. If that is what you want to do, then, yes you can own both a clothing company and an IT company. However, if your goal is to own a clothing company that also owns other businesses, your father is right. However, you mentioned selling fitness clothing and nutritional supplements, and AnushaJain agreed this would be a good idea. I agree with both of you that this would be a better idea. If you want to diversify, getting involved in related businesses would be best.
     

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