I chose two different scernarios to put a business plan for, as the instructor requested.
I would like to dedicate Two pages for each business plan scenario and a page for citations.
*please keep in mind that it will be run through a grammarly report (PDF report) and will be sent to the instructor with the completed essay. Please make sure to use no AI.
Instructor’s post:
First Scenario:
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
Ssecond Scenario:
Professional Group
Allen, Barbara, and Carson all went to dental school together. They all want to go into business together, because none of them can afford office space on their own. Allen and Barbara are slightly worried about Carson, because while they were “A” dental school students, Carson was more like a “C” student. Carson can also be a little impulsive.
Considerations: Rent or mortgage of office facilities, fixtures for a dental office, supplies for a dental office, marketing, payment of employees, insurance, etc.
What business entity or entities would you recommend to the Allen, Barbara, and Carson? Explain why you would recommend the entity and go through the pros and cons as they would apply to a professional group of dentists.
Choose two of the following entities to compare: Limited Partnership, Corporation, Professional Limited Liability Company
In the first scenario (restaurant), I would like to compare between Sole Proprietorship ans S-Corp
In the second scenario (Professional Group), I would like to compare between Corporation and Professional Limited Liability Company.
*ATTACHED: is the grading criteria.
