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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 117459
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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I am currently a cabinet installer, but hope to

Customer Question

Hello I am currently a cabinet installer, but hope to receive my california contractor license in the mere future (2 years). Even though I am experienced with the work, I am inexperienced with the business side. Just wanted some professional guidance on
what I will need and what to expect when I receive my license. Financial, law, corporation guidance etc. Just looking to start with a small millwork shop with a couple of cnc machines. kitchen, bath, closets, offices, garages, entertainment centers are the
services that I will provide. Summary about me: I am a 22 year old male that has been building cabinets since the age of 5 thanks to my father. Wood work is a passion of mine and hope to make a fortune from it. -jovany
Submitted: 2 years ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 2 years ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
Well, when first starting, you need to consider forming an LLC, which is the simplest type of business entity, but it gives you protection from personal liability. When first starting, you will have to give some personal guarantees if you need to borrow to buy equipment or lease space, but you need to try to limit personal guarantees as much as you can and try to negotiate to only engage in business, leases or loans in the name of the LLC only so that in case the business does not work out you cannot be sued for personal liability.
You need to do all business in writing, with contract agreements and you need to keep good records of your business, in case you are sued for anything you can prove your case.
Generally, this is really all you need to remember about doing business as a small business and if you try to stick to those things you should remain protected.