The below is an excerpt from the Foreclosure Cleanup Business Newsletter. Sign up today at http://www.foreclosure-cleanup-blog.com/?p=535.
Foreclosure Cleaning Business Registration Question & Answer
Q&A re: Business Registration (LLC vs. Sole Proprietor) and Using Outside Legal Help
Question: Hello Cassandra, I have a question. I’m trying to get the LLC for my business, I called Legal Zoom and they told me that it would cost me $496 to get the LLC. Is it necessary to have the LLC? Or, is there a cheaper way to get an LLC ? Thank you, I’m in SC. W.
Answer: Hi W. You can do it yourself, which is much cheaper. I did. Contact your Secretary of State’s office with questions, but start by visiting these links for your state.
You will need to take some time and do a little reading, but it will be worth it, b/c each year when you have to renew your filing, you will know what it entails and won’t have to pay anyone.
The initial registration process, securing your name, etc., may be a little over $100 or so, give or take. It’s not difficult at all. It just seems cumbersome b/c it’s an “LLC;” but it’s just filling out a form and sending it in. In Georgia, my neck of the woods, you can be your own “registered agent.” (You’ll see this term in the paperwork. Likely the same in SC, but read everything over.)
And, NO, you don’t NEED to file as an LLC, you can simply register your business as a sole proprietor, but there are pros and cons to each. I discuss business types in the main How To eBook in detail that can be found at http://www.e-junkie.com/stonecottagebooks/product/508962.php.
Good luck to you. Keep your $500 in your pocket and store away for biz cards, postcards, marketing, equipment, etc. You can do this yourself. Let me know how it goes, okay. Good luck to you.
- Tips on Choosing an Effective Name for Your Foreclosure Cleanup Business, http://foreclosure-cleanup-industry.com/articles/name.htm
- Do You Need to be Licensed & Insured to Start a Foreclosure Cleanup Business, http://www.foreclosure-cleanup-blog.com/?p=69
Cassandra Black is a foreclosure cleaning business consultant and small business author. She has written several books, reports and forms about entrepreneurship and the foreclosure cleanup industry (http://www.e-junkie.com/stonecottagebooks) published by Stone Cottage Books.