Best business model?

[Chris Gleo]

hey everyone, I want to start an e-commerce company where my salary is separate from the company’s profits. The plan is to pledge 100% of net profits to a local charity I volunteer at, but take a $40,000 salary along the way. What is the best business model to use? Should I form a c Corp or is there a better way?

I’d rather not set up a non profit... Can I just follow the Newman’s Own business model but avoid their legal problems by not owning the foundation I support?

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[Action Mike]

Charitable giving is one of my main motivators but IMO the best way to do this long term is investing into the business as much as possible to build it up and then eventually investing profits in investments that return cash flow that can then be used to support charities. You still control the capital but have long term lasting income that can be used to help others. A ecommerce business might have a short shelf life compared to a life long pursuit of charity.