Forming another llc. Can I put Industy or Indus

Can I put Industry or Industries in the name of my llc even if it is just a real estate holding entity. Ive always loved the Industries part of a company name but of all my businesses ive never had a factory so I never could use the name. So basically to summarize …can I make it part of a biz name even if it has zero to do what the llc represents. And for the record I care nothing about ad sense or marketing, this is strictly a veil llc

Thanks, Frank in NC

Custom clothing / embroidery help

Me and a few of my friends created a "business" if you even want to call it that. Anyways, we were thinking of creating some type of clothing because we all have some friends and family that said they'd buy it and we have somewhat of a following on social media so that would help as well.

We aren't thinking we are going to hit huge success, at least not immediately. But the problem is we're mostly all in high school and don't really have enough funds to drop a few hundred on bulk sales for something that we haven't even started selling yet.

I've looked into some websites like apliiq which will make it and help sell risk free but it would take around 4 weeks to get the product out and not all sales are final. We're looking for some custom embroidery that we can buy for low price, but also not have to buy ~150 at a time.

My friend that has started this with me currently works at a clothing store that has a custom embroidery machine that we may be able to use, so I feel like that would help with cost a bit but might take way to long to work out the logistics of it considering it's not ours.

I've checked out places like printful which don't have a minimum amount but it leaves very little room for profit because they sell hats at around $15 each. So if anyone has experience with this at least just starting up let me know. I know we're very limited because we're all in high school but we're just trying to do this on the side and see if it takes off.

On the other hand, if anyone has some advice for a high schooler just emerging into the business world I'm all ears. I've taken a business class so far and I'm going to take 1 more then hopefully get my degree in Business Administration so I feel like that will help later on. Also I'm not sensitive so if this is a stupid idea or we're being dumb let me know! I'm open to all criticism harsh or not.

(Not sure if this is the right sub for this, if not let me know and I'll post it somewhere else)

Thanks

Tips/advice for buying an established business?

I'm an engineer currently but the rest of my family owns various businesses in retail and other industries. They do great. So they want me to follow suit but I don't exactly want to do that same route but am open to buying an established business in another industry. But I just want to ask what industries do well and which don't? Also, are there any things I should look out for when evaluating an established business? People fudging their books to lie about how much they make or something?

How do the following businesses rank?

  • Car washes
  • Dry cleaners
  • Laundromats
  • Tanning salons

I know I sound like a complete noob but I don't know what the right questions to ask are. Probably should mention my family will be advising me along the way but I just wanted to ask you guys and get some preliminary unbiased advice. Thanks in advance.

Been asked to co-found a company, feel like I’m walking into a raw deal, need some perspective

Hi, I'll try and keep it as short and sweet as possible.

I'm self-employed in a rapidly-growing industry, and have been doing contract and consulting work for the past decade. I started my business alone from the ground-up. In the past couple of years, I've networked with a couple of guys that have always wanted to start something up.

A while ago, I went in with one of the aforementioned guys, but it petered out before going anywhere. The loss was minimal, and I wrote it off as a learning experience.

The same guy came back this year and has proposed a similar business plan: bootstrap a business with consulting work and then build a product from the income gained from consulting, with another who we wanted to get in with, but weren't able to snag due to prior commitments.

I agreed to work out the details with some hesitation due to how the last company was handled, but as I go down the rabbit hole, I feel like if I agree to this, I'm setting myself up for major ruin.

Co-owner 1 (CO1), Co-owner 2 (CO2), and myself have different projected obligations. First, CO1 has a contracted position, his first he got through connections with a different company and that company's sales efforts. He has no consulting experience.

CO2 currently has a job, but does not have any consulting or contracting experience, and does not have any leads on or have a job ready to go.

Neither CO1 nor CO2 have sales experience, or have any leads to get jobs to bring to the table. I've already got leads on two jobs, one of which is ready to be closed. I'd also be the owner of getting CO2 up to speed on project management, and sales top-to-bottom. Likewise, my network would be the one tapped to build clientele for this enterprise.

CO1 has ownership over his own project, but expects to be moving into working on product work immediately after his contract ends, which is still nebulous as neither of us are the owners of the contract itself. He's proposed to move all of that income into the business itself, and take a salary from the company itself.

I've proposed to match what he's contributing, but after a discussion tonight, he wants me to effectively merge my business into this one, seeing any sort of "side-income" as "not being committed to the project".

As my livelihood comes from my current business, I'm definitely not willing to commit to this. As the work I do is seen as disposable once a product is created (which no plan has been proposed yet), I would likely be throwing away years of leads and relationships to effectively build a product with no real forecast for performance, or even what it would be.

CO2 would have no effective financial responsibility as far as I'm aware of. He would also be leaving his position as soon as this company starts.

Ownership would be cut three ways equally, with some amount of vestment period.

Any input would greatly be appreciated.

I run a small (IT software development) consulting company. I have several very decent developers on part-time 1099, but I still try to do _everything_ myself. What’s wrong with me? How do I stop?

I'm a perfectionist. I always have been. Not only do I need everything I create to be perfect, but I need everything my company produces to be perfect as well. I have an extraordinarily high standard for code, procedures, standards, and documentation.

My team fucks up on occasion — as any team or individual is be expected to do — but when they fuck up, I feel like I can't assign them stuff without holding their hand, until I know they won't do it again. I live in constant terror of some client-visible error getting by my QA.

It's not that I think they're incompetent, but I know that if I don't quality-control their output carefully, review everything, and make sure everything is perfect, then it will reflect poorly on my company. That will reflect poorly on me, and cost me money.

I KNOW that in order to be successful, I'm going to have to delegate a lot more than I am right now, but I'm afraid that my company will quickly deteriorate.

How do you get over the fear of letting someone else do work that you yourself could do (especially if you could probably do it better)?