- Published: December 10, 2021
- Updated: December 10, 2021
- University / College: Bournemouth University
- Level: Masters
- Language: English
- Downloads: 49
Business BUSINESS When developing a business plan there are several issues that one must look at. This paper entails a discussion these issues in relation to the case study provided, and answers some questions on the case.
Since more than one individual is involved in the coffee shop business, then this form of business cannot be a sole proprietorship. The two partners have to adopt a partnership form of business so that they may share the management roles and all the risks that can be encountered. This is a good form of business, as the profits that will be attained from the business will flow directly to the partner’s tax returns (Longeneckeet & Gaele, 2006).
The two prospective business partners, Pat and Alex, are professionals in different fields. This is an advantage in that it will save their business a lot of money and will go further in ensuring that their business becomes a success. Alex has a lot of experience in roasting coffee, which they can choose to do in their coffee shop instead of buying coffee that is already roasted. Buying roasted coffee is expensive. Being a chef, he can also handle all matters related to the kitchen Alex has all the experience that the business requires in order to provide customers with fine cups of coffee. He could save the business unnecessary expense, and that money could be used for other purposes in the business (Longeneckeet & Gaele, 2006).
Pat is a marketing manager in an advertising firm. Pat can overwhelmingly provide the necessary management skills that are required in the coffee shop. This is also an advantage to the business, as management skills are essential in daily operations of a business enterprise. Since the coffee shop will be a new business in town, the two partners will need to carry out some advertisements. The advertisements will be aimed at attracting customers in their business. Pat, a well-trained manager, has to embark on this department and advice on the best way of attracting customers in this coffee shop (Longeneckeet & Gaele, 2006).
This paper has looked on the form of business, which Pat and Alex should adopt and how their strengths will help the business enterprise.
Reference
Longenecker J. G, & Gaele T. (2006). Small business management : an entrepreneurial emphasis. Mason: South-Western.