Business Forms Evaluation and Recommendation - Essay Example

Case Study # 4 Table of Contents 1. Business Forms Evaluation, Recommendation 3 2. Who Betty Should Include in the Business, Reasons for Not Taking Anyone 3 3. Availability of Planned Name in North Carolina 5 4. Name Choice: Business and Trademarking Assessment 6 References 7 1. Business Forms Evaluation, Recommendation Given that Betty has sources of funding, via the husband, who may or may not choose to collect on any funds to be given by him, owing to their being husband and wife, for instance, the choice of form of business can boil down to whether Betty will want to take in another person into the business, and what form of business best fits the circumstances surrounding Betty and her new business. The literature tells us that the easiest form of business to launch is the single proprietorship, where the only requirement is for the business to commence operations. If Betty decides to take in someone else, then the form would be some kind of partnership, or a corporation, or a limited liability company or LLC, all of them valid legal business forms, and all of them placing some level of liability on the individual persons forming the business when it comes to being answerable to their customers and suppliers. The franchise can be a single proprietorship too, or one that is run by a corporation or partnership or LLC. Given that Betty does not seem to have that much experience with running a coffee business, then it seems to make sense, given the options available, to form the business as a franchise. Moreover, for reasons that are to be explored further in the other questions, the best form is one where Betty runs the business as a single proprietorship (Spadea, Lanard & Lignana, n.d.; Sanders and Lambert, 2007). 2. Who Betty Should Include in the Business, Reasons for Not Taking Anyone There are several options for “partners” or people to take in by Betty into the business. John, her husband, is one, ready to supply some capital for the business. Alice, the sister of Betty, is another. Erma, Betty's neighbor, is yet another, though she is not Christian. Religious inclination is one consideration in choosing someone, if one is to make an assumption with regard to how religious inclination translates to business, moral and related values. Other issues, such as the level of commitment and energy that the different people options are ready to pour into the business, also matter. As well, domestic issues that can limit involvement and can constitute conflict of interest are also pertinent considerations. None of the three options or “partners” are completely free of issues. John has the money, but will not commit any time or attention to the business. It helps though that he is the significant person in Betty's life, being the husband. That vital relationship can make up for any lack of commitment in terms of giving time to operate the business. Alice, meanwhile, while potentially committed and willing to give time and effort to operate the business with Betty, is constrained by a conflict of interest, the other party being family. Alice's husband has made it clear that he is opposed to Alice becoming involved in running the business, and wants Alice to take care of their children at home. On the plus side, Alice is a Christian, and therefore shares many things in common with Betty, in terms of values and what the business means for both of them. Then there is Erma, who is a non-Christian and sees the coffee business as just a way to make money. She seems not to share Betty's Christian values, and a does not share a deeper view of what the business is beyond making money (The Business Matters Trust, 2012; Shoemaker, 2012). Taking a step back, the decision to take in anyone is also a function of the form that the business is to take. If the business form were not a primary consideration, and people were, there is also the issue of whether Betty is better off operating the business alone, and instead hiring people to run the business with her, as operational managers. Also, Betty's spiritual values have to be considered. Is she willing to work with someone who does not share her enthusiasm for her Christian faith? Is she willing to take in a sister whose family life may be jeopardized by the sister's involvement in the business? Ultimately, being a Christian business has more to do with how being a Christian translates to possessing a certain moral and spiritual view about what a business is. These moral and spiritual values potentially shapes how a business is run, and how other people can and cannot fit in (The Business Matters Trust, 2012; Shoemaker, 2012). In the end, it seems that the best alternative is to just go it alone, taking in the money from John to help fund the startup. The reason Betty can cite is that given the demands of the business, and given her emphasis on running the business as a Christian undertaking and not just a purely business undertaking, she is better off running the business on her own officially, and taking in employees to help her with the operational management of the place (The Business Matters Trust, 2012; Shoemaker, 2012). 3. Availability of Planned Name in North Carolina The planned name is 'Gathering Place'. A cursory look on the Internet reveals that this name is registered to a host of groups in different states, involved in varying businesses and undertakings, many of them Christian in character. One site named 'The Gathering Place' is devoted to cancer (The Gathering Place, 2009). Another entity with the same name is a day care drop-in place for homeless and poor women and children in Denver (The Gathering Place, n.d.). A host of other organizations all over the US are similarly-named (Google, 2012). In North Carolina, the name is taken as well, one by a shop selling knives (The Gathering Place, n.d. (b)); and another place which is a small hotel (TripAdvisor, 2012). 4. Name Choice: Business and Trademarking Assessment The name chosen is common and used by several establishments in North Carolina, and in many other parts of the US. This wide use makes it somewhat of a poor choice as far as trademarking is concerned, and may pose legal problems, if the businesses already in operation have already trademarked the name in the state (TripAdvisor, 2012; The Gathering Place, n.d. (b); The Gathering Place, 2009; Google, 2012). References Google (2012). the gathering place search results. Google.com. Retrieved 30 April 2012 from http://www.google.com/search?hl=en&noj=1&biw=1280&bih=687&q=the+gathering+place&oq=the+gathering+place&aq=f&aqi=&aql=&gs_l=serp.3...931940.934113.0.934342.19.9.0.0.0.0.0.0..0.0...0.0.PCN59vjfQ5A Sanders, P. and Lambert, J. (2007). Choosing a Business Structure. Entrepreneur. Retrieved 30 April 2012 from http://www.entrepreneur.com/article/179418 Shoemaker, J. (2012). What is a Christian Business? Crown/ Crown Financial Ministries. Retrieved 30 April 2012 from http://www.crown.org/Library/ViewArticle.aspx?ArticleId=194 Spadea, Lanard & Lignana (n.d.). Choosing a Business Entity. Spadea, Lanard & Lignana Attorneys at Law. Retrieved 30 April 2012 from http://www.spadealaw.com/content/choosing-business-entity-0 The Business Matters Trust (2012). Profit, Performance, and Christian Values: Friends or Foes? Business Matters. Retrieved 30 April 2012 from http://www.businessmattersedinburgh.com/events/reports-on-talks/PPCVFF/ The Gathering Place (2009). The Gathering Place – A Caring Community for Those Touched by Cancer. Retrieved 30 April 2012 from http://www.touchedbycancer.org/ The Gathering Place (n.d.). The Gathering Place Denver. Retrieved 30 April 2012 from http://www.tgpdenver.org/ The Gathering Place (n.d. (b)). Ocracoke The Gathering Place. Retrieved 30 April 2012 from http://www.ocracokegatheringplace.com/ TripAdvisor (2012). The Gathering Place on the Blue Ridge. TripAdvisor.com. Retrieved 30 April 2012 from http://www.tripadvisor.com/Hotel_Review-g49166-d572839-Reviews-The_Gathering_Place_On_The_Blue_Ridge-Glendale_Springs_North_Carolina.html Read More