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Which is the proper business structure?

by ericmorris, Window Shopper

  • Created: October 20, 2011, 12:49 am
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2 comments

I've started two businessess simulaneously. One is an organization with the mission of promoting hunting and the outdoors to African Americans (non-profit). The other business is an e-commerce site (for profit) that will sell hunting merchandise such as prints, books, hunting apparrel, etc.At this point I'm just a sole proprietor.  I'm trying to find out how to name the business to encompass both entities.  For instance can I name it Red Fox Hunting Club and Red Fox Enterprises?  Red Fox Hunting Club being the non-profit part of the business and Red Fox Enterprises being the for profit part of the businness?  Or would I need to file two seperate businees names, applications, etc.How is the correct way to stucture and name an enterprise such as this.  Essentially, I owning two seperate organizations. I'm about to contract a company to build my website, register my business name, and recieve 500 prints that will have my business name located next to the artist's name.  Any informaton will be helpful as I'm planning to officially launch my site and organizations in December.      

Tags: Discuss Popular Topics, Starting & Registering a Business
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BizResearcher | Window Shopper | 10/25/2011 - 2:57 pm

To form a non-profit, you must first receive approval from the IRS, then you will need to register your business with your state or local agency as a non-profit corporation. As a non-profit, the business will not be able to make any profit. Therefore, you will probably want to register two separate businesses. A counselor at a small business development center or SCORE office can help you through the process of properly (and legally) setting up both businesses.

kmurray | Community Moderator | 10/21/2011 - 11:01 am

Hi Eric, You might find that using local resources can help guide you through this process. SBA has resource partners like SCORE and Small Business Development Centers located across the country that provide free business counseling to individuals looking to start or expand a small business. Visit SBA Direct to find your local SBA resource partners by entering your zip code.