Starting A Business Starting A Business
My girlfriend is thinking about starting a wedding planning business, and I offered to help her out as much as I can getting started - as far as the business aspect goes. I'm no business expert, but I have some basic business knowledge. I'm a senior business major with a focus in economics and planning to start working on an MBA next fall. She doesn't have much business background, she was an assistant director at a daycare and she didn't go to college. She is smart and a quick learner though, had a 4.0 in high school.
With that said I have a couple questions:
I'm thinking she would want to set it up as either an S-Corp or LLC, but I'm not sure which one? I know there are a lot of variables to consider, but any advice would be helpful.
Any other advice for starting a business? I could be wrong, but I think this is something she could start without much capital. Another concern is whether she could do this part time while working her current job 40 hrs/wk. I have no doubt she could handle it, and could take calls before and after work and at lunch, and take care of most stuff on the weekends. I know this is very generic, and she's just now starting reading and researching about it. I just wanted to hear some input from some of you guys regarding the business/financial aspect.