Restaurant Consulting Business?
Dave tells Beatrice that she and her mom should keep it simple for starting their consulting business. Let one be the owner, and the other split the profits.
QUESTION: Beatrice and her mom want to start a restaurant food consulting firm. They are debt free and wonder if they should do a sole proprietorship or partnership, or what?
ANSWER: I always recommend one person being the owner. Keeps things simple and you can avoid a lot of conflict that way. Let your mom be an employee and put her on a 1099 to start out.
Remember when going into business with family communication is key. You don't want your personal relationship with your mom to bad over business matters.