Hey guys! For this week’s blog, I wanted to talk about the business side of Wraith for once. Up until now, we’ve been what’s called a “sole proprietorship”. A sole proprietorship is literally the simplest form of business one can have. It’s basically just saying that the business and the business’s owner are one and the same. While a sole proprietorship can have employees (like we do), any and all legal responsibilities fall to the business owner (in this case, me). Yikes! That’s a lot of big responsibility when you think about it! What if an employee gets inured or the company (who is, again, indistinguishable from me!) gets sued? What about taxes?! Tons of crazy stuff can go wrong when it’s just you acting as the whole company. Heck, we here at Wraith already act like a democracy when it comes to projects and business matters anyway, so why should I be the one with all of that burden? Luckily there is another way…
“Well duh”, I can practically hear you saying. Well, yes, of course there is, but now is the right time for us to actually take those steps. As of this week, we’ve filed to become an LLC (Limited Liability Company). This is a pretty standard type of company; in fact, it’s pretty much the most common type of business out there. A great big thanks to The Hamilton Mill for not only housing our studio, but for helping us get this paperwork out the door!
The Hamilton Mill, home of our the Wraith Games Studio.
See, the reason we feel the time is now is because this past year has seen a lot of changes for us. Even though we started way back in the dark ages of 2005, this is really the first year we started operating like a true “business” rather than just a group of friends with a really time-consuming hobby. Heck, we just got our studio space in February and started remodeling it in October. We launched our re-brand in September as well! We even have business insurance ever since we moved into the studio. Now with OGDE over, Collapsus being wrapped up, Physix being worked on again, and t-shirts soon to come, it just seems right to launch into this new era for us! In 2015, a whole decade after we started this crazy journey, we are the business we always hoped we could be!
We’re so glad you guys have been along for the ride and hope you stay on with us as we continue to grow!