Are you planning to start a new business in Louisville? If so, there are quite a few hurdles you will need to pass in order to get the business off the ground and running. You cannot simply find a place to operate and open the doors. Today, we will take a look at some of the legal hurdles you might face when trying to open a business in Kentucky, so you can be prepared.
When the person who's the name and face of a Louisville-based company speaks out in ways that many people find offensive, that company can suffer potentially irreversible damage. In recent years, Papa John's has become known more for the words and actions of its chief executive officer and founder John Schnatter than for its pizza.
When a business opportunity is ready to get off the ground, it is important to make sure that it forms properly. Not only does the type of business formation you use affect the way the business runs, different types of businesses have different protections available and tax advantages or disadvantages that come with them. Many business owners choose to form a limited liability corporation, or LLC, because of the tax advantages and protections they offer when properly established.
When entering into a franchise agreement, there are many issues to carefully consider for all parties involved. Whether you are considering franchising out your existing business or weighing the pros and cons of becoming a franchisee yourself, you must always examine the franchise agreement very closely to identify terms that place you at a disadvantage or that may cause complications at a later time.