Originally Posted by mralaska
This forum is a great place to get advice on building motorized bikes but I would seek a professional opinion when looking for legal advice. I have only formed an LLC in one state so other states might do it different. In NH it only takes one person, $100, and 20 minutes at the state house. It is a rather painless process and in my opinion it is cheap insurance but you need to keep it clean just like a regular corporation.
I am not an attorney either so my opinion is just another voice in the crowd. Even if you have no assets at the moment, you never know what the future holds. There is nothing to stop people from suing you for more than you are worth. It would be a shame, years from now, to have to give up a large windfall because you did not feel the need to protect your assets back when you were dabbling in small business. Even without the windfall, it would be a shame to go through life with a judgment hanging over your head of any type. An LLC gives you a measure of protection against personal judgments.
That is truly good advise and I retract my own and stand corrected. Thanks MrAlaska.
Think I am the only one enjoying this thread. Some great food for thought. I keep giving up on the thought of selling 2 stroke kits and concentrate on 4 smokers. But the china girls sell. (many times better then 4's) with all 2 strokes looking exactly the same and no brand recognition being developed, the small dealer is always going to have a ruff go of it when trying to compete on any thing other then price on the internet. Just a thought. Multiple products is great advise. Selling motorized bicycles on consignment at local moto-sport shops might be a good way to feel out the local market.