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Your Business Structure is the legal form of ownership you will take when starting your mobile food truck business.
In your business plan you will list the ownership that you will be using and then clearly state why you have chosen this designation so that readers of this plan understand your decision.
When you are a business owner, you have a number of choices when it comes to ownership of your business. You can be a :
- Sole proprietor
- Partnership
- Corporation
- LLC – Limited liability corporation
All of these different designations carry different legal and taxation abilities and responsibilities. You can check with the IRS to find out what might work best for your situation, or you can start with one designation and expand from there.
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