OK, I & # 39; ll admit it. Once in a while, while channel surfing, I & # 39; l l pause on one of the Real Housewives shows on the BRAVO network. What a train wreck! And - like any wreck - I just Yet one diva of primetime grime has managed to clean herself up and emerge with a successful career and devoted following. Bethenny Frankel, former star of the Real Housewives of New York City, is now a successful author of three bestselling books, creator of the hugely popular Skinny Girl Margarita, founder of bethenybakes (a company that offers a line of wheat, egg and dairy free baked goods), and is starring in her own hit reality TV show on BRAVO, "Bethenny Ever After."
P. Diddy, Fan or not, you have impressed with the multiple successful business ventures Frankel has created. This is a day and age, it seems there are many media entrepreneurs who have built a brand and from it branched out various various professional endeavors. Rachel Ray, daytime talk show host, chef, cookbook author, and magazine creator, creator author, and once magazine creator is another great example.
With so many irons in the fire, how do these busy impresarios keep everything straight, business-wise?
From a legal standpoint, is it smart for entrepreneurs who have built a brand and multiple business ventures to operate everything under one roof?
Technically, multiple business ventures can be operated under one company, such as a single corporation or LLC, but that & # 39; s not a smart business for several reasons. From a business standpoint, the projects may have different goals (both economically and Finally, they will have different management teams who are experts in each particular line of business.
For example, if Bethenny gets sued by someone who drank a tainted batch of Skinny Girl Margaritas, she would not want the revenue from her book sales to be exposed.
Finally, you want the flexibility to plan for the sale or success of each undertaking on its own without affecting the others.
JM LAW GROUP is experienced in this area, so if you & # 39; re looking for In attendance to help with your small business venture or group of ventures - please give us a call at 215-832-3600. In the meantime, I think I & # 39; ll sit back, relax, sip a Skinny Girl Margarita, listen to a little P. Diddy, flip through Rachel Ray & # 39; s latest issue, and watch some Real Housewives of Orange County ...
