If you’re like most Etsy sellers, you started with a dream and a craft, and hoped to one day supplement your income with your passion. Setting up a formal business structure was not on your to-do list during those formative days of getting your products to your first customers. However, if your business success has grown beyond a few orders, or you are considering launching a full-scale e-commerce business in the future due to your success, it’s a good idea to set up an LLC to avoid potential legal pitfalls.
An LLC can give you some legal protection when running your Etsy shop, as it can limit your personal risk to liability from your business. Without LLC protection, owners can be held personally liable for all debts and obligations sustained by their business. As your business grows beyond a few customers, it becomes more complex and more risky issues can come into play.
For a lot of Etsy sellers, money is an issue when it comes to establishing legal services for your business. When you are just starting out, it might not seem like a financially savvy step to pay to set up an LLC. While using a “do-it-yourself” online legal site might seem like a good way to cut costs, speaking with an actual attorney will provide you with personalized plans specifically tailored to your business needs. You started your Etsy business because you wanted to offer a product that was unique and different, not something standard—therefore, a one-size-fits-all online legal setup hardly seems appropriate.
A Solid Foundation
There are additional steps after setting up your LLC that will help safeguard your legal status, and an attorney can provide guidance to you during setup. These steps come with the big perk that if your business is sued, you are your family aren’t going to have to pay for the damages out of pocket if you lose—only your business is responsible. Hiring a real attorney to explain the process and the benefits to you, at a reduced price than our typical hourly rates, are what make the LexLaunch.Com plans such a bargain as compared to online LLC setup. Learn more about our rates here.
Don’t put your family’s financial future at risk for your Etsy business. Call the experts at LexLaunch.com today to learn how you can set up an LLC today for a safer, more profitable tomorrow! Contact them today by calling 816-434-6610 or click here for more information.