1.0 Company Description
1.1 Legal Form of Business
Power Hour Fitness will be a Limited Liability Company (LLC) consisting of three members, Nicole Bauman, Salena Kreitler, and Kelsey Schmidt. This form of business will provide a great advantage for Power Hour Fitness as it is a hybrid of certain features of a corporation and a partnership. As a Limited Liability Company, the three associates avoid major risks such as within a partnership where partners are responsible for all debts. Instead, losses will only be the amount the members put into the business. Additionally, the Limited Liability Company will avoid the double taxation that occurs within a corporation. Both of these advantages allow for great success of Power Hour Fitness as a new …show more content…
Nicole Bauman has prior work experience in a financial position at Tower Rock Stone in Ste. Genevieve, Missouri. Her significant level of experience with payroll and finance will benefit the management team at Power Hour Fitness.
Salena Kreitler holds a Bachelor’s degree in Marketing from Saint Louis University. She has had prior experience in a Marketing position while working at the local hospital in Ste. Genevieve. Her immense level of expertise in marketing and technology will benefit the management team at Power Hour Fitness.
Kelsey Schmidt obtained her Master’s Degree in Health Fitness and minor in Operations Management from Southeast Missouri State University. Ms. Schmidt has prior experience working with a vast amount of different ages in a management position at a local sports facility. Her previous experience with health and fitness will be a wonderful addition to the management team at Power Hour Fitness.
1.0 Company Description
1.3 Company …show more content…
Genevieve, MO 63670 due to the recent renovation of the building and its convenient location in the heart of downtown, historic Ste. Genevieve. The downtown of Ste. Genevieve holds many small shops and restaurants convenient for free, local advertisement. Ste. Genevieve has a vast amount of population growth and various varieties of upscale amenities. Therefore, Power Hour Fitness is expected to appeal to a broad market because of its favorable demographics. Residents in the area often work odd hours as many corporations participate in shift work. The 24 hours/7 days a week athletic club would be able to accommodate their work shift and fitness needs. The location space is 15,000 square feet, with a majority of the space catering to an open area with exercise equipment. The location of this athletic club is also very convenient for those who live further away. The close access two main highways, 32 and 61, and interstate 55 allows Power Hour Fitness to connect with its
1.1 Legal Form of Business
Power Hour Fitness will be a Limited Liability Company (LLC) consisting of three members, Nicole Bauman, Salena Kreitler, and Kelsey Schmidt. This form of business will provide a great advantage for Power Hour Fitness as it is a hybrid of certain features of a corporation and a partnership. As a Limited Liability Company, the three associates avoid major risks such as within a partnership where partners are responsible for all debts. Instead, losses will only be the amount the members put into the business. Additionally, the Limited Liability Company will avoid the double taxation that occurs within a corporation. Both of these advantages allow for great success of Power Hour Fitness as a new …show more content…
Nicole Bauman has prior work experience in a financial position at Tower Rock Stone in Ste. Genevieve, Missouri. Her significant level of experience with payroll and finance will benefit the management team at Power Hour Fitness.
Salena Kreitler holds a Bachelor’s degree in Marketing from Saint Louis University. She has had prior experience in a Marketing position while working at the local hospital in Ste. Genevieve. Her immense level of expertise in marketing and technology will benefit the management team at Power Hour Fitness.
Kelsey Schmidt obtained her Master’s Degree in Health Fitness and minor in Operations Management from Southeast Missouri State University. Ms. Schmidt has prior experience working with a vast amount of different ages in a management position at a local sports facility. Her previous experience with health and fitness will be a wonderful addition to the management team at Power Hour Fitness.
1.0 Company Description
1.3 Company …show more content…
Genevieve, MO 63670 due to the recent renovation of the building and its convenient location in the heart of downtown, historic Ste. Genevieve. The downtown of Ste. Genevieve holds many small shops and restaurants convenient for free, local advertisement. Ste. Genevieve has a vast amount of population growth and various varieties of upscale amenities. Therefore, Power Hour Fitness is expected to appeal to a broad market because of its favorable demographics. Residents in the area often work odd hours as many corporations participate in shift work. The 24 hours/7 days a week athletic club would be able to accommodate their work shift and fitness needs. The location space is 15,000 square feet, with a majority of the space catering to an open area with exercise equipment. The location of this athletic club is also very convenient for those who live further away. The close access two main highways, 32 and 61, and interstate 55 allows Power Hour Fitness to connect with its