Can I set up a seperate business/brand under an LLC?

If we initially set up a business and register it as an LLC and later the business doesn't succeed, can we set up a brand under the LLC? For example, Business A is the main company and has it's own brand and trademarked name. If after some time the business doesn't do well, can we set up a brand under Business A called Business B? The brand and product of Business A would be different than Business B and would have nothing to do with A except the owners would be the same. What are the advantages and disadvantages of this or is it just best to start it's own separate company?

Would there be an tax advantages?

If I had a product with packaging, would the main office or headquarters name and address (Business A) need to be on the packaging?

Thanks!

"Brands" have nothing to do with the type of entity that owns them. There's nothing wrong with a company switching brands (or adding new ones) over time. The only issue is if you do business under a name that is different than the entity (sole proprietor or corporate), there may be some requirement to register the fictitious name (also known as a d/b/a or t/a)...you didn't indicate your state.

Brands don't have tax implications. Whether you're making money or not, etc... may have.

Depends what product you are selling as to packaging requirements. In most cases, you're not required to put anything specific on the package.

Flying Ron:

Thank you for your reply. That helps. Were would be likely registering in the Commonwealth of Virginia, possibly Maryland. Any knowledge on those two?