Are you an aspiring entrepreneur wanting to start your own company? Perhaps you’re ready to transform your side hustle into a legitimate enterprise?
A limited liability company (LLC) is a convenient business structure that allows business owners to grow their company without exposing them to personal debt or liability.
There are different types of LLC structures to best suit a business owner’s needs, and the most appropriate option for you will depend on a few details. Stay with us as we explore the different types of LLCs and real-life examples of how they operate.
There’s a reason that so many businesses choose to register as an LLC when starting (and growing) their company. The following benefits of forming an LLC shed a lot of light on the strategic decision.
The concept of an LLC suggests that the business structure goes beyond “sole-proprietorship and partnership associations” to offer a level of protection for the business owner and their personal assets.
Different types of LLCs exist, and they are suitable in varied instances. Despite their nuanced differences, the IRS recognizes an LLC as a pass-through entity for tax benefits — while providing liability protection.
Tax rates and local business laws are impacted by the state where the business is formed. Businesses can also choose to register their business as a foreign or a domestic LLC. A domestic LLC is formed within its home state, while a foreign LLC is a legal entity that performs business outside of its home jurisdiction or state.
An LLC is one of the most popular types of business entities in the United States, with various iconic businesses blazing the trail of success. Consider the following LLC names from successful US companies that have chosen to structure their organization as an LLC.
Google LLC was originally founded in 1998 by Sergey Brin and Larry Page and is a subsidiary of the holding company Alphabet Inc.
Today, the global search giant has expanded its offerings to include a range of services in search, advertising, and operating systems. As the world’s most popular search engine, Google helps guide people on where to get a haircut, help people buy flights, source recipes for chicken curry — and a lot more!
Since its inception as an LLC, Google has expanded its portfolio to include the following products and services:
Although headquartered in California, United States, Google has a powerful presence around the world, from Europe and Africa to the Middle East and Asia-Pacific. As a multi-national technology company, Google specializes in online advertising technologies, search engines, cloud computing, and software.
Google had humble beginnings but has grown in popularity and influence. Alphabet, Google’s parent company, holds a $1.7 trillion market cap and has used Google’s success to acquire more prominent companies — such as YouTube, Nest, and Waze.
June is an actionable product analysis tool for B2B SaaS companies. The LLC was formed with doola and has continued to grow from strength to strength.
It’s no secret that the number of SaaS companies is on the rise, and competition to succeed is getting more intense. Keeping a close eye on data and analytics helps B2B SaaS companies stay ahead of the competition — and June helps these brands activate signups, retain a user base, and protect data.
While Enzo Avigo, founder of June, has expertise in software, he needed help to structure the formation of his company. That’s where doola came in to save the day.
Enzo explains his decision to form the LLC with doola, saying, “We wanted a little bit of support… No way we’d get instant feedback from [alternative] if something goes wrong… We wanted hands-on support… We started to look for ideal solutions and didn’t see any, the closest thing we found were some very expensive lawyers.”
June’s team was based in France and planned to operate in the United States to meet their target audience needs. As international business owners, June required a little bit more support and guidance in forming their LLC, and doola was able to offer hands-on support for processes through the start-pack service.
Are you a non-US resident wanting to open an LLC in the United States? Read our guide on how to open LLC as a foreigner.
Formerly known as Blockbuster Video, Blockbuster LLC was an American-based provider of movie and video game rental services.
Founded in 1985, Blockbuster LLC disrupted the video-rental game by expanding rapidly. They became an entertainment giant during a time when most video stores were small-scale operations. By forming an LLC, the founder’s personal liabilities were limited — which was a positive move considering how the entertainment landscape shifted in the following years.
In 1994, Blockbuster was acquired by Viacom Inc, joining brands such as MTV and Nickelodeon. In the following years, DVDs took the world by storm, and Blockbuster adapted by renting films on DVD.
However, entertainment formats continued to evolve, and eventually, online streaming made video rentals obsolete. By 2014, the last of the company-owned stores had closed, and the only Blockbuster that exists today is an independent branch in Bend, Oregon. As an enterprise, Blockbuster LLC has become a subsidiary of Dish Network.
Today, Blockbuster’s reputation is a nostalgic enterprise that provides endless hours of entertainment. Forming as an LLC allowed the movie-rental business to grow and expand the number of franchises around the country while reducing the owner’s personal risk.
Ranked is a modern SEO company helping big and small businesses achieve desired SEO results. The LLC was formed with doola, offering quick and simple U.S business formation services.
With so many businesses investing in an online presence, a streamlined SEO strategy is essential to rank on Google search results. Rather than waste time (and money) on expensive, spam-motivated SEO solutions, Ranked offers transparent and affordable SEO services to help businesses boost their brand organically.
Ranked offers a range of relevant and effective services. For example, the company offers informative and engaging blog content, top-to-bottom on-page optimization, and high-quality backlinks gained from custom outreach rather than spam networks. Ranked also offers Google My Business services, helping to optimize local business listings.
As an SEO agency, Ranked has helped over 2,000 clients, including small startups and established Fortune 500 companies. The LLC also boasts more than 60,000 active ranking keywords and has more than 250 agencies using its White Label solution.
Ranked founders operate confidently, knowing they have full control over the business, benefit from tax benefits, and have limited personal liability.
IBM Credit LLC is a subsidiary of IBM, providing financial services, including asset management strategies. IBM Credit serves clients around the world and is registered as an LLC.
IBM Credit LLC is the vessel for IBM Financing to lease money and offer financial services to clients in the United States and beyond. Operating in the Consumer Lending industry, IBM Credit LLC was incorporated in 1981 in the state of Delaware as IBM Credit Corporation and subsequently converted to a limited liability company and renamed IBM Credit LLC in 2003.
Since, it has stood the test of time as an indirect, wholly-owned subsidiary of IBM. All of the LLC interests are owned by IBM GF International Holdings LLC.
As a lending company, IBM Credit has to be particularly careful to protect the owners and founders, ensuring that their personal assets are not at risk. As an LLC, the member owns the company interests, and the company has no other class of equity securities issued and outstanding.
RAIZE bakery is an innovative bakery that has reinvented the traditional cookie to meet modern demands. Operating as an LLC, RAIZE Bakery used doola to form its business easily and efficiently.
When your skills lie in blending ingredients and tickling tastebuds, you may not have the same passion for administration and legal filings. Not to mention there are many different paths to consider when choosing how to form your company.
Zach Ranen, Founder of RAIZE, was ready to take the first legal steps in making his entrepreneurial dream a reality, but he needed a trustworthy partner to guide him through the process.
Zach says, “The things that you probably think less about wanting to do are making legal filings or registering your company. Having someone like doola take care of that really does save you time and allows you to focus on the higher value pieces that can really drive your business going forward.”
doola connected with Zach and walked him through the different options for his business, ultimately deciding on registering the LLC in Delaware and qualifying the LLC in New York state. Within a couple of days, all of Zach’s information was submitted to the state, and a week later, he received confirmation of business formation.
Hertz Vehicles LLC is a globally-recognized car rental company that falls under the umbrella of Hertz. The Delaware limited liability company is based in Florida and operates under the Hertz brand.
If you hop online and search for a car rental service, you’ll undoubtedly browse through various options by Hertz. The company holds a 36% market share and is one of the largest worldwide vehicle rental companies that operates in 160 countries.
There’s no denying that Hertz is a major player in the car rental industry, and it all started by forming an LLC!
Are you ready to make your business official? Start an LLC with doola. It’s loved and trusted around the world, with many business owners speaking highly of the team’s quick and reliable assistance, innovative approach to business, and quality customer service.
We offer a range of professional services that are notably more affordable than many options out there. Our services are highly inclusive, and our Trustpilot score of 4.9 speaks for itself.
Our fast and easy process involves assistance when forming your company, getting your EIN, applying for your US business bank account, assisting with a payment processor, and getting a Registered Agent that will make sure your business is compliant with the IRS and secretary of state.
Whether you’re doing business inside or outside of the US, the team at doola is ready to help you with legal advice and take you through the process of forming (and managing) your company. As experts in business, we’re able to guide you in choosing the best LLC to meet your needs and assist you through each of the steps to establish your company.