You can structure any number of businesses under one S-Corp. You can do it in a few ways and it doesn’t matter that the new business is in a completely different segment.
First, if you wanted to keep it simple, you could just add another line of business in your original S-Corp. You would just be expanding your business and would be able to invest your pre-tax earnings back into the business to support the growth provided that you distribute to yourself a reasonable salary and pay income taxes on that.
If you want to create a new entity all together, you can do that too. One way to set it up would be to set up the new organization as a subsidiary with the original being the controlling parent. This way, again the parent would be able to reinvest pre-tax earnings back into the subsidiary provided your reasonable income is taxed.
Another option is to create an S-Corp that has a sole business of holding subsidiaries. This way, you will be creating two new organizations. One will be your new line business and one will be an organization that holds your new line of business and your original S-Corp as subsidiaries. The profits will be passed from both subsidiaries up to the parent and the parent will then be able to reinvest pre-tax profits from the old subsidiary to the new subsidiary.
This is just a quick rundown of some options, I would suggest that you talk to an attorney who can really help you develop a strategy that is best for your specific goals. For that reason, I encourage you to visitwhere we will match you with an experienced attorney who will work closely with you to develop a strategy.