Using some 'for instance' names, I am purchasing a business - a veterinary hospital sole proprietorship ('Previous Owner dba Animal Hospital') in Pennsylvania.
I have formed a single member LLC ('My LLC') to purchase the business.
I have filed a fictitious name amendment to be 'My LLC dba Animal Hospital'.
I have filed for an federal EIN using My LLC.
When I hire employees, are they being hired by 'Animal Hospital' or 'My LLC'?
When I apply for a business credit card should the application under 'My LLC' or 'Animal Hospital'?
From my personal experience, the solution you decribed to your connundrom correctly addresses your concerns.
Obviously, you do not want to lose patients due to a name change. Therefore, keeping 'Animal Hospital' keeps the brand the previous owner's clients became accustomed. Operating under that DBA allows you to collect any payments due from previous customers and makes it easy for current customers.
The previous vendors will likely maintain the relationship, but you may need to file new credit applications with them.
In short, I believe you have taken the proper steps thus far.
I hope this helps you and others.
Kind Regards,
Lee Roberts
Online Store Software
BizResearcher | Window Shopper |
2/15/2011 - 11:33 am
Show Replied Text…
From my personal experience, the solution you decribed to your connundrom correctly addresses your concerns.
Obviously, you do not want to lose patients due to a name change. Therefore, keeping 'Animal Hospital' keeps the brand the previous owner's clients became accustomed. Operating under that DBA allows you to collect any payments due from previous customers and makes it easy for current customers.
The previous vendors will likely maintain the relationship, but you may need to file new credit applications with them.
In short, I believe you have taken the proper steps thus far.
I hope this helps you and others.
Kind Regards,
Lee Roberts
Online Store Software
An option would be to keep the current name 'Animal Hospital,' but register it as an LLC or PLLC. That way, you would be keeping the original name, but also protecting your liability. As another poster mentioned, you will need to open a new bank account, credit cards and vendor accounts in your name, not that of the previous owner.
BriaS | Community Moderator |
12/28/2010 - 10:04 am
Hi dogdoctor,
Review the Business.gov page Business Name Registration: Doing Business As. It discusses your questions in the introduction. Feel free to check out the specific information for Pennsylvania state. If you have any other questions, please post them.
BriaS
LRoberts | Window Shopper | 2/4/2011 - 3:34 pm
BizResearcher | Window Shopper | 2/15/2011 - 11:33 am
BriaS | Community Moderator | 12/28/2010 - 10:04 am
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