The Business Structure Of A Business Essay

1446 Words Sep 20th, 2016 6 Pages
The business structure that I would initially go with would be a sole proprietorship. The type of business I would like to start from the ground up would be a small gym that focuses on function and athleticism, while also focusing on Brazilian Jiujitsu as an option if one were to decide that martial arts would be a path one would like to pursue.

A sole proprietorship is an unincorporated business that is owned by an individual, which in this case would be myself. There is no legal distinction between myself and the business. I am in control of all elements of my business unless I designate an agent to do some of the decision making for me. I will receive all profits from the business being that we are one in the same. As the sole proprietor I am responsible for all income whether it be a loss or a gain.

The steps that it takes to form a sole proprietorship consists of a couple things but nothing over the top. In order for me get my business registered it doesn 't really require a formal action to make happen. The first thing I needed to figure out is my business name. The business name would be JR’s Jiujitsu & Gym, simple and effective in my opinion. The next thing I would have to do is register my business name. I could choose a fictitious name or I could use my actual name in the business title (like I just did). For Florida I would need to register with the Department of Business and Professional Regulation. Tax filing would fall under myself since both the business…

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