Viable Options To Expand Our Company "ABC" to "XYZ"? entrepreneur how earn by blogging blog

Howdy doody Reddit!

I'm the Operations Manager of a growing Groundskeeping Company (Landscaping) founded by my best friend in high school. We provide year round property maintenance, such as summer lawn care, fall leaf removal, and winter snow removal. In the past year, we have made some excellent progress, which I'll list below: -Converted from paper records to Quick Books Online -Created a brand with a logo and website -Moved from a rental garage to a stand alone shop -Electronic invoicing, P.O. Box, Google Voice Phone Number -Sales have been growing, and we plan to expand our residential clients by taking on commercial contracts in the upcoming Spring

Here's where we need some help...

We would like to expand our operations to a "general contractor" by obtaining the required licenses and permits necessary to expand our workforce. Some of our expertise areas include; Interior remodeling (kitchen/bath), hardwood and laminate flooring, framing, tree removal, patio and deck building, custom patios and retaining walls with pavers, garden install and maintenance, finished basements, moving services, roofing, siding, property restoration, and much more... you get the idea.

Currently, we have the company set up as an LLC under a Specific name "ABC" with its own Tax ID, EIN, etc. We would like to continue operating under this name for our landscaping services, since this is well established.

Our goal is to operate the General Contracting services under "XYZ" instead of "ABC". This is where we don't know what the best route to take is. In terms of ease, we would like to maintain a single company as an LLC. We know there is a change of name application, however it may hinder the landscaping business to change names again.

Must we create a separate entity to continue services for general contracting? Is it possible to market our general contracting services under "XYZ" and accept payments to "ABC"? Would you recommend this? Would it be better to maintain two separate entities, or is a single entity preferable. I don't even know if we're asking the right questions here- so please, give me some of your experiences in expanding a thriving company!

The only other question, which comes second, is how to pay employees. Currently, we run payroll through QBO and pay our employees at hourly rates. We think it would make sense to subcontract employees for the general contracting "XYZ" aspect, since there are many more variables per job.

If there's necessary information I've failed to mention, please let me know! Thanks guys!

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