Essay on Starting a New Business

Betty Wilson’s venture of opening a Christian Coffee House in Belmont, NC, presents her with abundant opportunities in selecting a business form. She is considering the following types of entities: 1) franchise, 2) sole proprietorship, 3) partnership of some sort, 4) corporation of some sort, 5) LLC, or 6) even as a joint venture. We will briefly explore each business option and give Betty concise recommendations as to what business form to pursue as well as what business partners to engage.

When it comes to partnerships Alex, Bill, Carl, and Devon will have two options- a general partnership or a limited partnership. Partnerships are beginning to be a business form of the past. Once upon a time, partnerships were “the default form of business and provided the benefit of pass-through taxation, but lacked the important feature of limited liability” (Chrisman, 2010, p. 465). In a general partnership, each partner associated with the entity will be held liable for their own business decisions as well as

Since Shania Jackson is pursuing her first business, a private corporation is a worthy avenue of direction. An initial understanding by Shania that a lack of experience is a commonality of a new business owner must be considered. Inevitably, a multinational corporation is ideal once all the operations of the Christian coffee shop are proven to be efficient, as well as profitable. For example, trial and error will reveal the preferences of variations of coffee together with numerous toppings for the coffee purchased by Colorado residents. In addition, Shania might consider pastries to accompany the coffee. However, the coffee preferences of the Colorado population may vary by a landscape compared to coffee drinkers in Germany. For these

The RemyCake bakery created a cohesive team and an established clientele and became a staple within the community. Their exemplary customer service and the charismatic presence of their founders created a unique work and customer environment. However, with the recent retirement of the RemyCake bakery founder, a number of issues have arisen. Our Task Force identified the origin of their organizational issues. The following summary addresses and provides solutions for the RemyCake Bakery’s issues of ineffective leadership style, lack of organizational hierarchy, under-developed employee training program, and poor communication at all levels.

Part I: Discuss the various forms of organization that are available to Penelope, Mark and John. There are a few different options from which you can chose to organize your business under. For example: partnership, LLP, S Corporation, C Corporation for which I know you are all familiar with. It is my duty to give you my own educated and unbiased opinion to which would be most beneficial to all of you.

The partners of Beyond the Bean want to combine a traditional coffee shop with table/ board game rentals, where customers can socialize, in a relaxing environment. Our case analysis will demonstrate the appropriate decisions Beyond the Bean should apply to their business plan in order to achieve their goals.  The report clearly identifies the problems within the case, and what choices the business should make to in order to be successful in the given area during a time of rescission. We explore the strengths, weaknesses, opportunities, and threats of Beyond the Bean’s business structure, identifying vital decisions that the business should

Besides the sole proprietorship after reading I learned about three basic types of business organizations known as limited liability (LLC), partnership, and corporation. Sole proprietorship is a “business owned and operated by a single person. The business has no separate legal existence from its owner.” (Rogers, 2012) In the textbook it said “Partnership is an association of two or more competent persons to carry on a business as co-owners for profit. The business itself is not a legal entity.” (Rogers, 2012) The law says competent means a partner having contractual capacity and a partnership where each partners simultaneously a principle and agent. You can partner up with a minor but be wise to emancipation or be cautions because minors can void partnership agreements. Partners of a business are owners and managers automatically unless specified otherwise by partners but according to the law they presume equal rights. “Note that while there can be unprofitable partnerships, there is no such thing as a nonprofit partnership. The partners must intend to make a profit.” (Rogers, 2012)

Small family operations, like the Little Red Roaster make up the largest part of our country’s business base. The problem is that too many of them fail, not because of the lack of expertise or motivation, but because of poor business decisions. The LRR is a perfect example of a small operation taken over by a very capable and knowledgeable person, Kendra Gordon-Green. She is one of those hard working employees that have been given the opportunity to become an owner-operator of a small business operation. At this point Kendra has not made the transition from employee to owner. Sadly this very situation is the reason most small businesses like the LRR never make. With two locations

You are a valued colleague and friend of this threesome, and they have come to you seeking advice as to how to structure their new business. They have

The business structure chosen by Bagels and Brew is a partnership agreement that will combine the education and experience of married couple Sally and Dave Brewskin. Sally Brewskin has 15 years experience working as a chef in the food services industry, and will bring her knowledge of food preparation to keep high standards in delivering consistent and quality products. Outlined in the partnership agreement, Sally will be in charge of food handling and food safety standards as well of sourcing of food stocks, she will use her connections to source the top quality coffee beans. Dave Brewskin has a degree in Business Management and has been working as a restaurant manager for the last ten years. Dave’s experience will drive the business’ customer

Starting a business is the latest trend. Just take a look at Instagram. Several profiles have the caption ‘Entrepreneur’. At this very moment, there is someone, somewhere working on an idea, a business plan or launching a startup. Entrepreneurship is on the rise like never before. The flexibility and independence that comes with being one’s own boss is attractive and worth taking the leap in starting a business. However, most people don’t know that being an entrepreneur is a grueling journey that can be very lonely and stressful at times. According to the Small Business Administration (SBA), 50% of businesses fail during the first year. Starting a business can be a scary task, but the

One part is to purchase $35,000 for a larger roaster. Let’s assume that monks worked eight hours a day, and then this new roaster can help them to raise production by 500 pounds per day (130*8-540=500). The other part is to put wholesale sales churches and local coffee shops. MMC’s strategy is a money-maker because it has a competitive advantage. It focuses on the niche market – the U.S. Catholic population who drinks coffee and wishes to support the monastery’s mission. In the U.S., this population is over 69 million. Consequently, this business has a good potential to provide profit.

Despite being an intimidating prospect for most people, there are millions of entrepreneurs in the US. Some of them turn out to be very successful, others, not so much. There are many steps to starting and running a business, but many of them can be easily accomplished simply by filling out some forms, and several small fees.

When Schultz returned to the States he presented his new-found discoveries, of what he believes a coffee shop should be like. However, his bosses didn’t share the same belief, that creating a coffee shop with “artistic and joyful experiences” was less as important as making coffee that sells well. So, Schultz quit and he went on to raise money to fund his own coffee shop establishment , “Il Giornale.” The store started very small, with only two, or three employees, to keep labor costs down. Only sixteen months into his new founded company, Schultz found himself in the position to buy his former employers’ small scale coffee shop. To Schultz it was a no brainer to buy the company which first sparked his love for coffee, so he did. And at only thirty-four years old Schultz had one-hundred employees, several locations throughout the city of Seattle, and a dream to create a nationally recognized brand of “Starbucks Coffee.”

Shania Jackson is interested in starting a Christian coffeehouse near Denver, Colorado. A few family members and an acquaintance, both believers and nonbelievers, have expressed interest in investing and become a part of her business. She has researched franchise opportunities with various stipulations as a method for starting her business. She is also considering naming her business “The Gathering Place”.