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Exploring ownership options with least amount of restriction

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Reference no: EM133226036

1. Luis is setting up a new business and exploring ownership options with the least amount of restrictions. What question might Luis ask himself that addresses this issue as he explores to ownership options for his new business?

How much money do I need to start my business?

Do I have the expertise needed to run my business myself?

Am I willing to share profits with other people?

Can I avoid complicated government regulations and business reporting?

2. Caleb has always been interested in becoming an entrepreneur, but he knows how risky it can be. What type of entrepreneur could Caleb become that might be less risky and allow him to use another already established business's name and resources in return for a fee such as Chick-fil-A or Jamba Juice?

franchisee

marketer

sole entrepreneur

an entrepreneurial leader

3. Izzy is currently busy catching up on various administrative paperwork such as quoting, invoicing, and accounting. What will staying on top of this type of paperwork help her business establish?

lower profits

good records

popularity with consumers

bonus points with the IRS

Reference no: EM133226036

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