Legal Question in Business Law in Wisconsin

Legal Structure for a Multiple Location Retail Business

Hello....I currently own two retail pet stores, and I am planning on opening more this year. I currently have the two stores incorporated seperately. How should I proceed with future stores? Should I continue to Inc each location seperately? Should I form one ''parent'' corp that would own the seperate locations? Or would this allow the assets of location ''A'' be liable for the debts of location ''B''? How do I bring money into the ''corporate'' office to pay the corp office expenses if each location is incorporated seperately? Lastly, how do the big boys, Best Buy, Home Dept, structure their multiple locations? Thank you for your time! Jonathan


Asked on 2/01/06, 12:33 am

1 Answer from Attorneys
Mark Mahoney Cassiani Law Office, Wise Shepherd Law Office

Re: Legal Structure for a Multiple Location Retail Business

Greetings,

Congratulations on your business success. Unfortunately, some questions just cannot be handled well over email/internet. This is because I only have some of the facts, and it would be dangerous to give advice without sufficient knowledge of where you are at or where you want to go.

The question you ask is a combination of accounting and law. You need to find a good accountant, that you can afford, who can be part of your team. A lawyer can then work with that person to set up your business entities in the proper way. I am not sure where you are located. It may be possible for me to help you with the legal side of it, and work with your accountant. To find out if this will work, feel free to send me an email to: [email protected]

Best wishes, Mark J. Mahoney

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Answered on 2/01/06, 7:01 am


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