Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You and two close friends from the gym are unhappy with your current service jobs and want to try your hand at entrepreneurship. You have

image text in transcribed
You and two close friends from the gym are unhappy with your current service jobs and want to try your hand at entrepreneurship. You have built a small business providing personal training classes to friends, family, and classmates. You dream of moving beyond the limited friends family sales and formally launching a mobile gym and training service in Vancouver. You think there is a space in the market for your vision, and think this is something that every city in Canada would welcome. You have always wanted to work for yourself and you are passionate about this opportunity. You each have $25,000 to invest. Your mom is cautioning you not to go into business in a casual arrangement with friends - you need to decide how to structure your company. 1. What are some of the concerns you might have around this business idea? 2. Name and describe the 2 forms of organization options you can use for this organization 3. Explain why you have chosen these two. Is dhe preferable to the other, and why? Why are the other 2 forms of organization not suitable

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Data Analytics Using Microsoft Excel With Accounting And Finance Datasets Version 2.0

Authors: Joseph M. Manzo

1st Edition

1453395210, 9781453395219

More Books

Students also viewed these Accounting questions