By Ed Younger.
If you run your own business, you are a smart and talented individual. You can probably handle any task that you set your mind to, and if you are thinking about incorporating or forming an LLC, you’ve probably heard advertisements for low cost do-it-yourself incorporation services. These ads claim that you can save money by incorporating or forming an LLC online by yourself. But as a smart business person, you should know that there is more to the story than as advertised.
First, most of these services fail to disclose the true cost. The advertised price is for the bare minimum. It does not include important documents and steps that must be purchased at an additional cost.
Upselling of unnecessary options is also common so beware. One popular website automatically subscribes you to ongoing services that cost hundreds of dollars per year. In the end, it can cost more than seven times the initial advertised price for a complete DIY kit. One of the biggest problems is since you are not receiving legal advice, how do you know if you are making the right choices on how to structure your business? If you make a mistake it may cost you much more to correct it later, and even worse, you may not get the personal liability protection or benefits you were after in the first place.
Another factor to consider is time. Time you spend doing your own legal work is time lost developing your business or serving your customers and earning revenue. While the DIY services promise to be “quick and simple”, in reality you will need to research the proper business structure and setup for your needs.
Each situation is unique and there are many factors to consider. If you don’t have the time to dedicate to doing this homework, you will end up frustrated by the DIY process or worse yet, stuck with a structure that hinders your objectives. Successful entrepreneurs recognize the value of their time and this should not be discounted when deciding the value of DIY incorporation services.
Are you willing to risk your dream business and your personal security by trying to save a few bucks?
At Alvis Frantz and Associates, we can help get your business entity formed with confidence. Let us be a trusted part of your team that helps you maximize the potential of your business.
Ed Younger, is an associate attorney at Alvis Frantz and Associates and is dedicated to helping your business. Our LLC and Corporation services are complete packages that take care of Federal, state, and local filings. Call Ed 925-516-1617 or email him today to discuss your business formation.
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