Creating an LLC

You do not have to create an LLC for each business you operate, but you may want to.  If Bob's Music and Bob's Fashion are d/b/a's (not entities; by definition, if they are separate entitties they are separate llcs, although one may own the other) are each owned by Bob's LLC, they are each responsible for the other's obligations.  Thus, if Bob's Fashion is unprofitable and you shut it down, the LLC, which still operates Bob's Music, is still liable on the debts of Bob's Fashion.  If a pedestrian is struck by a Bob's Music truck, the LLC is liable even if Bob's Music would not be able to satisfy the judgment on its own.  If Bob's Fashion and Bob's Music are separate LLC's, however, and operated properly (no commingling and observe the formalities) one is not liable for the other's debt.