So I've got three ideas that all make sense under one umbrella: a print-on-demand shop, a local landscaping service, and a food truck. I don't want to file three LLCs and pay three sets of fees. Can I just put all of them under one LLC? Or is that a bad idea? I keep hearing conflicting stuff.
LLC
I have three business ideas and don't want three LLCs
One LLC can hold multiple businesses, but you're mixing very different risk profiles. A food truck and landscaping both carry liability. Put them in the same LLC and one lawsuit can take everything down.
Also, your bank and insurance will probably want separate DBA (doing business as) names anyway, so you end up with one LLC but three DBA filings. That's still cheaper than three LLCs, though.
Trying to run a food truck and a landscaping crew at the same time sounds like a heart attack with a side of bankruptcy.
What state are you in? Some states let you file a single LLC with multiple "series," which can separate liability while keeping one filing. Not all states allow it, though.
Series LLCs are more complicated than the internet makes them sound. Some banks won't touch them. And if you're in California, forget it. They don't recognize them.
Honestly, landscaping and a food truck under one LLC is asking for a nightmare if you ever sell one of them. Buyers don't want to buy a piece of a messy LLC. They want a clean entity.
You could do one holding LLC that owns three child LLCs. More paperwork and fees, but it's cleaner than one LLC holding three unrelated operations.
That's an overcomplicated solution for someone who's probably just starting out.
+1 to the liability concern. My uncle ran a construction LLC and a rental property under one entity. One lawsuit and he lost the rental. Don't mix liabilities.
Also, if you're the only member, a single-member LLC doesn't protect you from everything anyway. You still have to keep personal and business finances separate. Do you really want to track thre income streams in one bank account?
This. One LLC is fine for two similar, low-risk businesses. These three are not similar and not all low-risk. Food truck especially.
You can also just start with one LLC and add the others later if things take off. No rule says you have to launch all three on day one.
I did one LLC, three DBA names. It's been fine for two years. But my accountant hates me at tax time.
Check your state's annual report fees too. One LLC might be $50/year. Three LLCs might be $150/year plus separate registered agent fees. Adds up.
I'm in Ohio. And yeah, the food truck is the one that worries me. Maybe I'll start with the print shop and landscaping under one LLC and keep the food truck separate.
That's probably the smartest version of this plan.