Hi,
Hopefully an easy question...
I have an LLC. I would like to open multiple web stores each selling different items. If my LLC is called "ABC,LLC", can I name each store, for example, "Widgets for All, a division of ABC,LLC" and similar for each other store?
Do I need to file paperwork with any particular state agency for each store, or is my original LLC "all encompasing" for each new web store I choose to open.
Thanks for the help!
Mike
goWholesale Forums » Wholesale Buyers » General Chat
Web business with multiple stores
16 posts
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You should be OK under one name. I've been doing it for years.
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We do this as well. The issue comes with bookkeeping and accounting regarding your inventory and being able to keep track of it. This is the only challenge we have encountered.
A little organization goes a long way! -
One element you may want to consider is that, should you accept credit cards, your merchant service provider is usually only able to support one dBA name. We'd suggest something that creates a common brand identity within the bank statement so none of your customers dispute the charge (they may no know where the charge came from).
Also, you can indicate during order checkout that the company name appearing on their credit card charge is... -- YOURNAME --
Good luck.
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I do that and still get a couple chargebacks started each year. Usually a phone call or an email is all it takes, but you never know.
Had one guy charge back about $ 350 with AMEX. When I got up with him he said no problem and called them the same day. The still took it. He ended up sending me a check.
Then, 90 days later, they put the money back. So, I wrote him a check right back and we ended up straight, but it was a pain.
My invoices have the name the merchant account uses, the email receipts show it, etc. Still get one every once in awhile. -
Thanks for all the quick replies. All very usefull info.
There is so much to think about before actually opening an internet business. I am grateful there are many people in the forum who give out this kind of advice.
Mike -
I would think you would need to file a DBA with the county clerk for each name. e.g. ABC,LLC DBA Widgets for All ... someone correct me if I'm wrong?
Rich
medic8ed wrote:Hi,
Hopefully an easy question...
I have an LLC. I would like to open multiple web stores each selling different items. If my LLC is called "ABC,LLC", can I name each store, for example, "Widgets for All, a division of ABC,LLC" and similar for each other store?
Do I need to file paperwork with any particular state agency for each store, or is my original LLC "all encompasing" for each new web store I choose to open.
Thanks for the help!
Mike -
We've structured our companies as XYZ Co. and XYZ Co. dba ABC Co. I don't know if there's a limit on the number of dba's you're allowed to have under one company (ask your tax or business atty) as I'm sure it differs for each state plus there are different SIC Codes that may disallow you from structuring as a dba if your companies are selling completely different items/services.
Something else to consider...We had to get merchant accounts for each of our sites seperately (of course there are no setup fees incurred for this) but it actually makes bookkeeping much easier....where it gets sticky is banking. Most of us know exactly where every penny is/goes but with luck your businesses will grow and it may become difficult to seperate the transactions between the 2 or 3 companies into one bank account.
You may also set email addresses from each website to "dump" all messages into one Outlook inbox...this will save you from having to log on to each site seperately to check for new messages. Implement some organization prior to diving in and you should do great.
Best of luck! TB -
I would think you need to differentiate if you are actually interested in having different companies or DBA's or simply different products (and websites to match). You may not want to sell jeans and motor oil on the same site -- but these might be two of your diverse products.
Probably best to talk with your accountant and see what the best structure is for your type of venture. -
Hello,
I think ms_gkygrl hit the nail on the head. I need several diverse websites selling different products, but I don't necessarily need (or want 2 or 10 different companies).
Like ms_gkygrl stated, I may want motor oil on one site and jeans on the other. I would like to keep "ABC,LLC" as the common factor and name each web store appropriatley for the products I list, as "ABC.LLC" says nothing about any product - it is just a name to let me diversify.
Trying to keep it simple makes it much more difficult, but the info great.
Mike -
I've got half a dozen sites all using the same merchant account. Each with their own URL, on a common server. I've actually got 2 business licenses, 2 tax numbers and 2 bank accounts. One of each for a real retail mall shop, the other for many sites and other wholesale endeavors.
The reality is the sales tax people want the sales tax money and the local folks want their license fees. In my case, the fees are based on sale figures, so I keep the mall figures apart from the others. Same with the sales taxes. Mall gets reported and paid monthly, other stuff quarterly.
No big deal. I use QuickBooks with Classes to define what money is coming from where. Nothing to it, actually. -
I'm not entirely sure how it works here in the USA and with all States seeming to have their own little sub rules, I'm even more unsure BUT, in Australia you can utilise 'The Joe Blow Group of Companies' as your Merchant Account name and add and subtract business names under that umbrella as you see fit. As long as the name said "Widgets for all' - a division of the Joe Blow Group of Companies, there would be no problems. I am actually looking into this here in Pennsylvania as I am in the process of aquiring another (non wholesale) business.
Worth looking into as there was virtually NO paperwork for each business name as long as the common denominator was The Joe Blow Group of Companies. -
You have separate merchant accounts for each name? That stinks, doesn't that get expensive because of monthly fees, etc? I guess it doesn't really matter if all the sites are doing well
TireBiter wrote:We've structured our companies as XYZ Co. and XYZ Co. dba ABC Co. I don't know if there's a limit on the number of dba's you're allowed to have under one company (ask your tax or business atty) as I'm sure it differs for each state plus there are different SIC Codes that may disallow you from structuring as a dba if your companies are selling completely different items/services.
Something else to consider...We had to get merchant accounts for each of our sites seperately (of course there are no setup fees incurred for this) but it actually makes bookkeeping much easier....where it gets sticky is banking. Most of us know exactly where every penny is/goes but with luck your businesses will grow and it may become difficult to seperate the transactions between the 2 or 3 companies into one bank account.
You may also set email addresses from each website to "dump" all messages into one Outlook inbox...this will save you from having to log on to each site seperately to check for new messages. Implement some organization prior to diving in and you should do great.
Best of luck! TB -
I've got half a dozen sites all using the same merchant account. Also do wholesale sales locally and on-line sales via email for products I don't even show on a website.
None of the online businesses even have the company name of the merchant account in their names, nothing to tie together. I just include a "Your credit card statement will read XXXXX" on the invoice and order acknowledgement. Never had a problem. -
I am with pete on this one. I have one checking account with all business names included and one merchant account that dumps all the money into my checking account.
I also include an invoice with company name. I have a great accountant and bank manager, so this has always been a no brainer. -
you may need a DBA and make sure you get a separate merchant account for each otherwise make sure its VERY CLEAR on your order page that their cc bill will reflect a charge from ABC, LLC
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