Indicate your LLC's initial registered agent and registered office. State law requires your LLC to have a registered agent and a registered office in Wisconsin on whom legal process can be served and to whom official documents can be sent. Your registered agent must be located at the registered office, which must be in Wisconsin and represent the physical business address of your registered agent.
If you're thinking about starting a business, you likely already have an idea of what you want to sell, or at least the market you want to enter. Do a quick search for existing companies in your chosen industry. Learn what current brand leaders are doing and figure out how you can do it better. If you think your business can deliver something other companies don't (or deliver the same thing, but faster and cheaper), you've got a solid idea and are ready to create a business plan.
Check to see if your chosen name is available. Before you submit the Articles of Organization, you should check to see if your chosen name is available/acceptable under state law. You can do this by conducting an online search for business names that are already registered with the Department of Financial Institutions using the database provided.
"A lot of startups tend to spend money on unnecessary things," said Jean Paldan, founder and CEO of Rare Form New Media. "We worked with a startup that had two employees but spent a huge amount on office space that would fit 20 people. They also leased a professional high-end printer that was more suited for a team of 100 (it had keycards to track who was printing what and when). Spend as little as possible when you start and only on the things that are essential for the business to grow and be a success. Luxuries can come when you're established."
Another option is to open a franchise of an established company. The concept, brand following and business model are already in place; all you need is a good location and the means to fund your operation. Regardless of which option you choose, it's vital to understand the reasoning behind your idea. Stephanie Desaulniers, director of operations and women's business programs at Covation Center, cautions entrepreneurs from writing a business plan or worrying about a business name before nailing down the idea's value.
Some businesses are prevented from forming an LLC, however. Typically financial companies such as banks, financial trust companies and insurance agencies can't file as an LLC. LLCs are sometimes limited for industries in certain states, too. For example, if you live in California, you can't form an LLC if you're an architect, accountant or licensed health care provider. Check out our LLC information by state for more details on your state.
Sole Proprietorship – A sole proprietorship, also known as a trader firm or proprietorship, is a business firm that is owned and run by one individual. A sole proprietor may use a trade name or business name other than his or her name. Registration not required – In summary, biggest advantage is quick formation and low compliance. However, the biggest disadvantage is unlimited liability.