Business Entity
Form the company that will hold your inventory, your liability, and the name printed on the bottle.
From here on, almost everything gets signed by someone: manufacturing purchase orders, insurance policies, merchant account applications, warehouse agreements and trademark filings. Whoever signs is who answers for it when something goes wrong.
This module puts a company in that position instead of you, and sets it up so the separation holds. You're about to have a product made by a facility you don't own, from raw materials you didn't test, and sell it to strangers who will swallow it.
What this module covers
- 1Rule Out the Sole Proprietorship
- 2File in the State You Operate From
- 3Keep the Legal Name and Brand Name Separate
- 4Choose the Address That Goes on the Bottle
- 5Get the EIN Directly From the IRS
- 6Open the Bank Account and Sign the Operating Agreement
- 7Set the Separation Rules Before Money Moves
7 steps with the reasoning behind eachIncludes a working tool that saves your numbers
The full module is in The Foundry
The Foundry opens early January. Join the waitlist to hear first, and read the free lessons in the meantime.