We have an existing LLC that operates as an independent contractor providing services at multiple locations in the local area. We would like to set up another entity that provides the same service, but 1) out of a new fixed location, 2) under a different name, and 3) with employees.
We don't think separating liability between the two is a major concern since the existing LLC has no significant assets to protect. Additionally, the existing LLC's independent contracting activities may be reduced and/or phased out if the new entity gets going. However, services provided under both require malpractice insurance.
Would this best be done by modifying the existing LLC in some way (e.g., somehow turning it into a series LLC)? Is it better to set up a new LLC? Or is there a more simple process using the "doing business as" approach?
We appreciate any insight!