What type of the above four business entities

Reference no: EM133203015 , Length: Word Count: 1000 Words

Assignment - Business Entities Questions

Kelly and Karla were roommates at Lynn University and graduated last May. While on a post-graduation celebration trip to Costa Rica, the two women began exploring the idea of opening a restaurant on South Beach in Miami, Florida. Neither has any previous experience in starting or operating a restaurant, but both have extensive connections in the Miami-Dade area because of the many friends they made while attending Lynn. They intend to attract health-minded, college-age students to their new restaurant, The SoBe Health Hut. Kelly and Karla agree that each will invest equally in terms of time and money. However, in addition to these equal contributions, another $100,000 is essential for the restaurant to succeed.

1) Explain the key elements of - and the differences between -- a sole proprietorship, a general partnership, a limited liability partnership, and a corporation.

2) What type of the above four business entities is best suited for The SoBe Health Hut and why? In your answer, explain who will manage the store and what personal liabilities will Kelly and Karla face and why?

Reference no: EM133203015

Questions Cloud

Pestel analysis of the hotel and lodging industry : Please complete a PESTEL analysis based on the forces influencing hotel and lodging industry performance and growth in the country to be visited.

Actions of federal fiscal policymakers : Last week's discussion prompt invited you to assess the actions of federal fiscal policymakers (the White House and Congress)

Calculate net cumulative change in aggregate expenditure : Calculate the net cumulative change in the aggregate expenditure if taxes were cut by $200 billion and MPC is estimated to be .75.

Great recession and the covid-19 pandemic : Last week's discussion prompt invited you to assess the actions of federal fiscal policymakers (the White House and Congress)

What type of the above four business entities : Business Entities Questions - What type of the above four business entities is best suited for The SoBe Health Hut and why

Explain how you will address jim recent performance issues : Explain how you will address Jim's recent performance issues. Suggest both constructive and positive feedback designed so that Jim will leave motivated

Discuss the consumer decision process of a home buyer : Discuss the consumer decision process of a home buyer. Talk to 10 existing home buyers for developing the response.

Concept of market power : What are the sources of the firm's market power? Can they be sustained over a short run / long run?

Create a completed gantt document based on work flow : Create a Completed Gantt document based on work flow that could be submitted for the group

User Account

All Pages