A business proposal - Essay Example

Consequently, several homes provide an opportunity to sale televisions. Besides, most of the residents in the rural areas lack the expertise in terms of installation and operation of the televisions, providing these services will be quite profitable. The residents will not only be informed from the television news but they will also be entertained by the various programs cast on the television. The target market will be the workers in various institutions such as schools, hospitals and manufacturing industries.

Advertisements in radios and newspapers will be a major marketing strategy. In order to achieve the goals, road shows and organizing talks in the various institutions will also be essential because planning is essential to any new business, (Mc Keever 2). Question Two The business venture is to be implemented though partnership. Partnership refers to the legal entity in which two or more people own a business (Walston, 463). Apart from partnership, other legal entities that exist are corporations and associations.

Partnership is characterized by sharing of wealth as well as losses. This means that in the event of profit, the partners will enjoy and share it together. In the event that a business makes a loss, all the partners will miss on the agreed income that is to be received. The business fits a small by involving only two partners or agents in the partnership. The two agents will still undertake managerial tasks. Another characteristic of partnership is that the agents or the partners usually pay tax individually.

Even though, the assets of the agents are not usually protected, there exist laws that protect the partnership (Walston, 464). For instance, the law of contracts and agency will oversee the operations, and provide guidelines in the event of partnership termination. Question Three For any business organization to be successful, it requires that managers seek assistance and guidance from various sources. Some of the common sources that exist are board of director or advisors, personal lender, business consultants and legal representations.

In this proposal, business counselors will be consulted. By definition, business consultants refer to experienced and specialized individuals in matters concerning business operations or activities. Managers or owners of various businesses usually get advice from them at a fee. Business consultants are preferred in this case because two agents run the business. However, varied situations useful in the growth of the business might be overlooked. In addition, by involving consultants, much time will be spent in the actual operations of the business because the consultants will communicate to the business about the effectiveness of the business strategies.

It is also known that business consultants usually upgrade the workers’ or managers’ experience (Davey, 07). Since the stock, will be obtainable from various suppliers, they can offer consultation at no fee. For example, information about the durability and quality of the television sets bought is available to them. Question Four A business usually obtains finance from various sources that could be internal or external (Sofat & Hiro, 330). The business venture will obtain finances from bank loans.

It is known that bank loans are effective sources of finance for any business. Besides, bank loans are usually flexible because the contract is terminated immediately when a loan is paid early. In order to obtain a bank loan, a number of guarantors are required. Given the fact that the business is a partnership, the partners can act as guarantors or the suppliers can also be guarantors. Apart from the bank loan, friends and family members will be the source of finance because