What kind of business structure should I use for my haunted house production company?

Question

I like the administrative simplicity of a sole proprietorship but also like the liability protection of a LLC. Also, I have an investor in this October's event, but the particular investors my change from event to event. How do I make them a partner in the event without giving up full ownership of the company?

Answer 1

Offer to give up 30%((or however much you feel comfortable giving up)) of the company, then ask them if in this many years time ((if your successfull)) if you could buy it back from them for _______ amount of money. ((Negotiate a price)). And being in the haunted house production company myself get liability protection, trust me. It will help GREATLY in the long run. Because in the 6 years iv been doing this, i have been scammed easily 50 or 60 times. Also i would suggest putting security cameras in your haunts, it helps to thwart scammers. Or just tell them there will be cameras in your haunt, the threat of force or cameras is usually enough to stop anything to serious from happening. Oh and if your not going to have the same investor every year i would strongly suggest not selling ANY of your company, or before you know it. You will no longer have control over your company due to the fluxuation in investors. I would suggest offering them a percentage off the door. ((if your charging more then 6 dollars per entrance)) But thats just my two cents, hope i helped.