What is the corporate structure of the Co-op Dealership?
AutoIncome sets up all its Co-op used car dealerships as Limited Liability Companies (LLC’s) A LLC is a hybrid between a corporation and a partnership. This legal structure offers the protection of a corporation but has the flexibility of a partnership. One individual is designated as the Manager and is responsible for the daily operations of the used car dealership. Everyone else is then added to the LLC as members, giving them the legal right to buy and sell cars for the used car dealership. Every person involved with the Co-op used car dealer license is then entitled to the profits that they personally generate.
