In society, entrepreneurship is important because it provide innovations, jobs and wealth. Reaching the goal of becoming an entrepreneur comes with its advantages and disadvantages. In the case study of Shania Jackson, she is in the initial steps of business planning to become a Christian entrepreneur who owns a faith based coffeehouse near Denver, Colorado. Mrs. Jackson has capital from her husband and two potential employees. In analyzing her case, advice will be given on what business form suits her business model best, whether to buy a franchise or go independent, how to name her business and hiring requirements for employees.
Best Business Option The best business form option for Shania Jackson is to establish a Limited Liability Company …show more content…
From Carlos’ observation, a business model like this would be profitable in Mrs. Jackson’s area as they live near large churches and congregations. In her research of the coffeehouse business, it seems the franchise option appeals to Mrs. Jackson. This makes sense as she has never owned a business and being an independent coffeehouse would require a lot of leg work on her part to grow the business from the ground up. “A potential franchisee obtains not only a tested business concept, but also the opportunity to avoid mistakes and run a business that is almost risk free” (Lewandowska, 2014). Also, the turn-key franchise option best fits Mrs. Jackson’s business goals as it would provide more autonomy from strict branding and trade dress while also providing an established business plan, facility, training and purchase order. In the end, the franchising option provides a great support system being that Mrs. Jackson would be going into business on her own without her husband’s support in the day to day business …show more content…
Shania Jackson is coming to the planning stage with some advantages. She has capital secured and is open to different business options to bring to fruition her dream of opening a Christian coffeehouse. Mrs. Jackson’s best option for success is to form a Limited Liability Company (LLC) with an S corporation tax. This will protect and separate her personal and business financial and legal liabilities. Since Mrs. Jackson has never owned a business, it would be more financially stable to purchase a franchise then independently build a business from scratch. While “The Gathering Place” is not available as a business name or trademark in Colorado, Mrs. Jackson should decide on a business name that better aligns with her product and services in order to create name recognition and brand loyalty. Lastly, Mrs. Jackson should utilize a Christian Worldview in hiring
Best Business Option The best business form option for Shania Jackson is to establish a Limited Liability Company …show more content…
From Carlos’ observation, a business model like this would be profitable in Mrs. Jackson’s area as they live near large churches and congregations. In her research of the coffeehouse business, it seems the franchise option appeals to Mrs. Jackson. This makes sense as she has never owned a business and being an independent coffeehouse would require a lot of leg work on her part to grow the business from the ground up. “A potential franchisee obtains not only a tested business concept, but also the opportunity to avoid mistakes and run a business that is almost risk free” (Lewandowska, 2014). Also, the turn-key franchise option best fits Mrs. Jackson’s business goals as it would provide more autonomy from strict branding and trade dress while also providing an established business plan, facility, training and purchase order. In the end, the franchising option provides a great support system being that Mrs. Jackson would be going into business on her own without her husband’s support in the day to day business …show more content…
Shania Jackson is coming to the planning stage with some advantages. She has capital secured and is open to different business options to bring to fruition her dream of opening a Christian coffeehouse. Mrs. Jackson’s best option for success is to form a Limited Liability Company (LLC) with an S corporation tax. This will protect and separate her personal and business financial and legal liabilities. Since Mrs. Jackson has never owned a business, it would be more financially stable to purchase a franchise then independently build a business from scratch. While “The Gathering Place” is not available as a business name or trademark in Colorado, Mrs. Jackson should decide on a business name that better aligns with her product and services in order to create name recognition and brand loyalty. Lastly, Mrs. Jackson should utilize a Christian Worldview in hiring