Just in case any of you thought you were gonna cash in on the name Frypan Digital, we got dibbs. I now, for the first time have the honor of introducing to you, Frypan Digital, LLC! For better or worse, we have officially begun. Not only have we begun, but we have done so staying consistant with Frypan’s budget.
You can have the best ideas in the world, heck we’ve drawn up at least a dozen top 100 apps on scratch paper, but if you don’t act on them, someone else likely will. I am not sure that this idea is genius, and it probably has been thought of before, in fact I am sure it has in one form or another thanks to Google Alerts, but we’re still destined to give it a try. So what to do? Where do we start? Well we needed a bank account, and in order for that we needed an official organization. Enter, the government and the great state of Minnesota.
EXTRA EXTRA, Read all about it; “government is efficient!” Within one business day, online through the Secretary of State, we filed for our company name, gained LLC status and received our Federal Tax ID or EIN. Get this, we did it all for $170. Online legal document companies were upwards of $600 for attaining organizational status, and having started another business a few years ago using “actual” lawyers I am sure I racked up nearly $2,000 in bills by the time all the paperwork was complete. So just a little sniffing around on the web saved Frypan hundreds of startup dollars, money that can be better spent on our next round of beer (If you enjoy IPAs, and haven’t tried Rush River’s BubbleJack, give it a shot) and brilliant napkin sketched ideas…or maybe just the beer.
The key for us was jumping in and getting our feet wet. We might drown, but what’s the most we lose? A few hours on the internet, a few bucks? What do we have to gain? Maybe a great business idea, knowledge, friendship, and maybe most importantly a headstart on launching our next great idea.