Assignment#1: To Build or to Buy by Professor; Business 402-Small Business Management 01/29/2013 Assignment # 1: To Build or Buy Craft a brief strategy for a business concept that would directly compete with the small business you selected. Explain the rationale for the strategy in detail. The Business strategy which I would use would be to purchase an existing Bagel and Tea shop located in the heart of Rockville
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determining financial feasibility is only the tip of the iceberg. Choosing the right business structure will contribute to its long term success. Therefore‚ when selecting the appropriate business type‚ one must carefully consider the following: taxes‚ liability‚ administrative burdens‚ start-up and long term costs‚ legal implications‚ accounting‚ public reporting‚ a business partner’s agenda‚ the best method to reach financial goals‚ as well as considering the different types of financial statements associated
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will study all the advantages and disadvantages of sole trader and a partnership business. Finding: Advantages of a sole trader Disadvantages of a sole trader Easy to setup and to run- not many forms to be filled in. Unlimited liability- If the business is bad then it is possible for the owner to lose everything they own. All profits go to the owner- he/she themselves. Lack of continuity- The business could be sold by the owner or it could be passed onto their children
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Legal regulations. i) What are we going to be if we colabarate with Jawbone:- Limited liability partnership Why? Because we are building a partnership with a company in which both parties have limited liabilities. It therefore exhibits elements of partnerships and corporations. In an LLP‚ one partner is not responsible or liable for another partner’s misconduct or negligence. All partners have a form of limited liabilitysimilar to that of the shareholders of a corporation. ii)
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will also provide hotels and lodging. Ownership and company structure This service company will be owned by Hillary Hoffman‚ and assisted by trained hired employees. The company structure will be a Limited Liability Company; this will offer the owner of this service protection from personal liability form the business debts. The owner will not be liable for the debt‚ or any claim on the business. There is less hassle in setting up an
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Canadian provinces including Alberta‚ British Columbia‚ Manitoba‚ Ontario and Quebec. Five Guys Holdings‚ LLC started expanding rapidly through franchising in 2002. Five Guys Holdings is owned by the Murrell family. Five Guys Enterprises is a limited liability company (LLC). This is the newest type of business in growing economy and till this day it is still evolving. When you form your business into an LLC‚ it is similar to forming a corporation. The same as corporations‚ LLC’s have to file a document
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business organization? The three main forms of business organization are (1) sole proprietorships‚ (2) partner-ships‚ and (3) corporations. In addition‚ several hybrid forms are gaining popularity. These hybrid forms are the limited partnership‚ the limited liability partnership‚ the professional corporation‚ and the s corporation. B. (2) What are their advantages and disadvantages? The proprietorship has three important advantages: (1) it is easily and inexpensively formed‚ (2) it is subject
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Chapter 1 Case The McGee Cake Company Q1: What are the advantages and disadvantages of changing the company organization from a sole proprietorship to an LLC? Since the company’s inception‚ the McGee’s have operated The McGee Cake Company as a sole proprietorship which has provided them with several key advantages. The first among these advantages is the relative ease with which the McGee’s likely experienced in starting their business where essentially they were only required
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benefit from changing to a different type of business. Based upon our previous conversation‚ I will summarize my interpretation of your business concerns in the bullets below: • Liability. You are concerned about operational liability of the employees handling work on your behalf‚ as well as your personal liability for the operations and debts of the organization. • Geographic Expansion. You are thinking about expanding to another state‚ and need a business type that allows you to operate in
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L3000 Practice Exercise-Unit 4-Miller and Jentz 6e Multiple Choice - Agency Fact Pattern 17-1 (Questions 1-3 apply) Roz and Sara work as clerks in Trina’s Hot Clothes Shop. Trina withholds fed eral taxes from their pay‚ and controls the methods and details of the perform ance of their work. Roz and Sara are not au thorized to modify the prices or other terms of a sale at the shop. 1. Refer to Fact Pattern 17-1. Trina authorizes Roz to sell clothes at remote lo cations at prices that Liz
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