Explain the description of the business

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1. If you were to start a new business, what kind of business would it be (give me a very quick one-sentence description of the business)? Given the choice of sole proprietorship, partnership, LLC, S-Corporation, or C-Corporation, which legal structure would you choose for your new business and why? Provide at least two advantages and two disadvantages associated with your choice of legal organizational structure.

2. Describe what it means for a business to be a franchise. Using the new business idea you described above in Short-Answer Question #1, do you think that business would work better (from a business growth standpoint) as a franchise or as a corporate (non-franchise) business? Provide at least one advantage and one disadvantage of making your new business a franchise.

3. The textbook defines business as the organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society's needs. Based on what you learned from the Warby Parker case information, in what ways is Warby Parker satisfying the needs of its customers? Be sure to provide at least two different specific examples of how Warby Parker is satisfying these needs.

Reference no: EM133145016

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