Question

what is the legal form of business organization( LLC,c corpration,s corpration
in Beauty parlour

Answer 1

Answer:

Every new business owner needs to know the fundamentals. Forbes.com is breaking down those building blocks by answering eight core questions related to a given industry. Taken together, the information will give budding entrepreneurs a head start on making those first critical steps.

What legal structure should I choose?

New salon owners have a choice of five possible legal structures: sole proprietorship, partnership, limited liability company, S corporation or C corporation. As with many small businesses, an LLC is probably your best bet.

Create Account | Sign In

Apr 20, 2007,05:00pm EDT

How To Run A Beauty Salon: Legal Structure

Maureen FarrellForbes Staff

This article is more than 10 years old.

More From Forbes

x

Every new business owner needs to know the fundamentals. Forbes.com is breaking down those building blocks by answering eight core questions related to a given industry. Taken together, the information will give budding entrepreneurs a head start on making those first critical steps.

What legal structure should I choose?

New salon owners have a choice of five possible legal structures: sole proprietorship, partnership, limited liability company, S corporation or C corporation. As with many small businesses, an LLC is probably your best bet.

Setting up an LLC protects you from personal liability; only the amount of money you put into the business is at risk. (If one of your stylists gets sloppy around the ear, the wounded customer won’t be able to take your house or your car.) If you plan to open a chain of salons, set up a separate LLC for each location.

While corporations also limit personal liability, LLCs are simpler and more flexible: They don’t require a board of directors, shareholder meetings and other managerial formalities. (Corporations and nonprofits must have boards.)

It's too long try to understand.

Please mark as branliest