Imagine if you could create not just one, but 100 different streams of income

Operating Agreement

What is an operating agreement?

Choosing whether to start a business or invest in a franchise is a significant decision for any aspiring entrepreneur.

KEY COMPONENTS

Ownership Structure

  • Details the members of the LLC and their ownership percentages.

  • Defines how new members can be admitted and how ownership can be transferred.

Management Structure

  • Establishes the voting rights of members, including the voting power of each member based on their ownership percentage or other agreed-upon criteria.

  • Defines the procedures for making decisions, including how votes are conducted and what constitutes a quorum.

Capital Contributions

  • Details the initial capital contributions of each member and any additional contributions that may be required.

  • Specifies how additional funds can be raised and the consequences for members who fail to make required contributions.