Business Organization
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- Date Submitted: 03/06/2014 03:07 PM
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Business Organization for Betty Wilson
LeVan F. Smith Jr.
Liberty University
Business Organization for Betty Wilson
Betty, you are about to venture into the world of Business Ownership. You have some tough decisions to make ahead of you. Some personal in nature and some business related. Trust in the Lord with all thine heart; and lean not unto thine own understanding (Proverbs 3:5). Betty, as you begin this venture trust your faith in the Lord, our God. He will lead you on the path of righteous, so pray unto him. I will give you some advice to based your decision on
As you begin to think about your business, you have decide on what type of business model you want based your business on. You need to weigh the pros and cons of each. I will advise you what I see can benefits you and what could cause you some major headaches.
Let’s look at the franchise model. “Franchising is a commercial agreement between a party that owns a trade name or trademark and a party that sells or distributes goods and services using that trade name or trademark (Kubasek, Brennan, and Browne 446). Some of the advantages of being a franchise business, is that: you know what the cost of doing business is with the franchise. You will receive guidance on what is the best place to set up your business. You will also receive guidance on the quantity and type of goods to purchase. You won’t have to worrying about making relationships with suppliers, the franchisor tales care of that. The franchisor will provide training for our employees. You will be a part of an established brand. And last but not least, your legal issues will be handled for you.
Now for the disadvantages. You will have no control of the goods or cost of the goods, you will be buying and selling. You will have no control over the advertising of your business. This may be a problem, if your franchisor is not looking at your target market audience. You will be targeting the Christians in your area, where as they may be...
LeVan F. Smith Jr.
Liberty University
Business Organization for Betty Wilson
Betty, you are about to venture into the world of Business Ownership. You have some tough decisions to make ahead of you. Some personal in nature and some business related. Trust in the Lord with all thine heart; and lean not unto thine own understanding (Proverbs 3:5). Betty, as you begin this venture trust your faith in the Lord, our God. He will lead you on the path of righteous, so pray unto him. I will give you some advice to based your decision on
As you begin to think about your business, you have decide on what type of business model you want based your business on. You need to weigh the pros and cons of each. I will advise you what I see can benefits you and what could cause you some major headaches.
Let’s look at the franchise model. “Franchising is a commercial agreement between a party that owns a trade name or trademark and a party that sells or distributes goods and services using that trade name or trademark (Kubasek, Brennan, and Browne 446). Some of the advantages of being a franchise business, is that: you know what the cost of doing business is with the franchise. You will receive guidance on what is the best place to set up your business. You will also receive guidance on the quantity and type of goods to purchase. You won’t have to worrying about making relationships with suppliers, the franchisor tales care of that. The franchisor will provide training for our employees. You will be a part of an established brand. And last but not least, your legal issues will be handled for you.
Now for the disadvantages. You will have no control of the goods or cost of the goods, you will be buying and selling. You will have no control over the advertising of your business. This may be a problem, if your franchisor is not looking at your target market audience. You will be targeting the Christians in your area, where as they may be...