Restaurant

The Dietrich Family want to open a deli. This family consists of a husband, wife, and two children. The Dietrichs have saved what they believe is enough money to get the business going. They are concerned about protecting their nest egg, and building a business that they can pass down to their children.

Considerations: Rent or mortgage space for the restaurant, commercial kitchen fixtures, ordering food and other supplies, marketing, bookkeeping, taxes, insurance, etc.

What business entity or entities would you recommend to the Dietrich Family? Explain why you would recommend the entity and go through the pros and cons as they would apply to a restaurant business.

Choose two of the following entities to compare: Sole Proprietorship, Limited Partnership, S$-$Corp