A social media influencer business has the potential to generate profit, grow steadily, and carry a moderate amount of risk.
A limited liability company (LLC) is the right choice for any serious social media influencer business owner who is looking to:
- Protect their personal assets
- Have tax choices that benefit their bottom line
- Grow their business
- Gain credibility with customers
It is recommended that most businesses form an LLC, though each business is different.
The influencer market is projected to reach $15 billion by 2022. Brands are increasingly partnering with influencers who have a following and credibility in the market.
The social media influencer market is expected to grow as social media becomes more entrenched in people’s lives. Social media influencers can decide to operate within a specific niche such as fashion and beauty or food.
Social media influence business owners should consider the following factors when deciding if an LLC is the right choice:
- Level of risk
- Potential profit
- Credibility and consumer trust