Saturday, August 9, 2008

Get an Alias: Fictitious Business Name (FBN)

The following is an anecdotal account about starting a business. It is not, and should not replace, proper professional advice from an attorney, CPA, or a rocket scientist. Enjoy:

I mentioned earlier that the company name DeRamos Group LLC was insufficient for conducting business as a music publishing company. Additionally, since we're affiliated with both ASCAP and BMI under different publisher names, we needed more than one fictitious business name (FBN). It all depends on your specific needs as a company, and our company needed three FBNs. So we drove to the County Clerk's office to fill out a fictitious business name statement, which cost about $60.

This varies by state, but we had to find a county-approved newspaper to run our FBN statement in the classifieds for about a month. This cost about $40. With that, DeRamos Group LLC could now do business as (d/b/a) DeRamos Media, etc., etc.

Are you keeping track of the estimated start-up costs so far? It cost us about $500 to get to this point, and we weren't licensed to conduct business yet! Also five hundred is still a deceptive number, because there are specific costs related to specific industries. For us, it was affiliating with ASCAP and BMI. For you, it might be something else. We might get into that later...

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