When starting a business or even upgrading a business from a sole proprietorship to a Corporation, understanding the differences between the types of businesses out there is something that is a priority to ensure the success of your business. There are many advantages and disadvantages of having a these different types of business for example: If I were to start a business from my home or a store front and it is owned and ran by myself solely and there are no legal distinctions between myself and my business then this would be a sole proprietorship. Furthermore, I started a business with a partner in which I own 50% and he owns the same amount, our business is a Limited Liability Corporation. And we decided on a LLC simply to split our tax
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She sells the cupcakes out of her basement which has access from her backyard. Patrons must walk down a set of stairs in her backyard, which often become icy in the winter time.”
I think having a cupcake business could be a very lucrative business but of course there are several items people should have before they decide to open a cupcake business, or even any business. 1. Having a great location is ideal for anyone starting a company. 2. Having a product or business that has been proven, that is needed or wanted. 3. Having enough capital for at least a 1 no less than 6 months.
I believe that Melanie could have the best cupcakes in the whole world but, where she is currently selling these cupcakes are not ideal. When you have a business that people can’t gain access from the front then you may face some slow revenue, and when you have people needing to walk down stairs to access your business it can lead to higher insurance premiums. I personally think that in order to have a successful cupcake business they need to have a good location in a store front, otherwise every time someone goes down those stairs you are risking your business by someone falling and getting seriously hurt. Additionally, I believe that she should have the company as a Limited Liability …show more content…
Samantha may pay for a store front and have employees and a lot of bills which will eat into her profit and depending on the demand or need for the business/product she could make double or even triple the amount of revenue. “E-commerce statistics confirm the explosive pace at which this industry has developed as worldwide B2C e-commerce sales amounted to more than 1.2 trillion US dollars in 2013.” There are those type of people who will not shop online because they love shopping and seeing your product before you buy it but, recently there have a huge increase in the amount of revenue an E-commerce store has
She sells the cupcakes out of her basement which has access from her backyard. Patrons must walk down a set of stairs in her backyard, which often become icy in the winter time.”
I think having a cupcake business could be a very lucrative business but of course there are several items people should have before they decide to open a cupcake business, or even any business. 1. Having a great location is ideal for anyone starting a company. 2. Having a product or business that has been proven, that is needed or wanted. 3. Having enough capital for at least a 1 no less than 6 months.
I believe that Melanie could have the best cupcakes in the whole world but, where she is currently selling these cupcakes are not ideal. When you have a business that people can’t gain access from the front then you may face some slow revenue, and when you have people needing to walk down stairs to access your business it can lead to higher insurance premiums. I personally think that in order to have a successful cupcake business they need to have a good location in a store front, otherwise every time someone goes down those stairs you are risking your business by someone falling and getting seriously hurt. Additionally, I believe that she should have the company as a Limited Liability …show more content…
Samantha may pay for a store front and have employees and a lot of bills which will eat into her profit and depending on the demand or need for the business/product she could make double or even triple the amount of revenue. “E-commerce statistics confirm the explosive pace at which this industry has developed as worldwide B2C e-commerce sales amounted to more than 1.2 trillion US dollars in 2013.” There are those type of people who will not shop online because they love shopping and seeing your product before you buy it but, recently there have a huge increase in the amount of revenue an E-commerce store has