Choosing the Right Structure for a New Business

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Choosing the Right Structure for a New Business 1. Introduction A new idea for a business is the setting up of a mobile photographic studio. There are many individuals who want family portraits, or photos for identification or other reasons, who do not have time to go to a professional photographer. There are already a number of services where photographers will set up in a shopping centre to take family portraits of photos of children, or go to schools and take children's photographs to sell to parents. The new idea takes this a stage further, allowing a family to invite a photographer into there home for a set period of time, for a set price which will include a specific number of photographs. The idea of the convenience, as well as high quality of service, will create differentiation, with the aim of gaining business by recommendation. The business will be set up ion an areas where there are is a large population of middle and upper class families, and where a similar service is not easily identifiable. In order to set up the business it is necessary to consider the practical implications associated with the different business structures which may be used to establish the firm. 2. Forms of Business Organization When setting up a business, the idea is only a part of the process. It is also necessary to consider the way in which the business itself will be set up in order to function. There are three basic structure which may be used; sole proprietor, partnership

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