Product ready to Scale
I have a proprietary blend diaper rash paste that I run through a sister company concurrently with my main company. We've never attempted anything beyond regional reach and it's really taken a backseat since the start of the pandemic. We have about 18 months remaining on the expiration date of our current inventory so we need to decide soon if we'll re-up or wrap-up. Since the majority of my time is spent on our main business, a true "bootstrapping" is less of an option - the other company has no debt but no real cash either, if we were to take a loan from our other company, how much do you think we need to make a serious go at getting this product off the ground (on our last run our product was landed for about $6 and sells online for $19.95) and what strategy would you employ?
PHC / S corp under a trust
Just listened to your PHC episode, thanks! One thing you mention is putting your s corp under a trust with a vague name. I don't know much about trusts. Could you expand a bit on that? Can you confirm this is what it looks like? Personal identity > Trust >> S CORP >>> LLC 1 >>> LLC 2