Entity Business Plan Essay
Pirates studion franchise is a unique business venture with several programs running concurrently and successfully. At pirates studion, there is a rectangular studio connecting to our workshop with props to be used during shooting. Pirates has been one of the fastest growing business venture in the nation.
The organization goal of this business entity is to capitalize the success of the innovative programs of pirates. Some of those innovative programs include; gold’s gym, community centers, sports clubs and many others. In order to become part of a growing network, advertising and promotion are essential so as to attain it’s goal (David, 2003).
Pirates runs various programs which offer the following goods and services. First is entertainment that is through filming and showing movies for example pirates of carrebian which transversed the whole nation. They host T.V programs which screen some of their movies and cartoons programs. Secondly services offered by the pirates through selling of consumer goods.
This goods include materials for manufacturing of cosmetics products,running restaurants,food places,selling,soft drink and drugs. There are also clubs and mostly sports related e.g baseball clubs ,basket ball clubs and many other more clubs. Beauty shops and saloon are also available(David, 2003).
The target customer of this business
Need essay sample on "Entity Business Plan"? We will write a custom essay sample specifically for you for only $ 13.90/page
There exist a sharp a difference when it comes to strengths and weakness of various business organization.(sole proprietorship, LLC ,& LLP).They include the following;
In sole proprietorship formation is very easy unlike limited liability partnership were large amounts of are are required for it to start. Also in limited liability company there is no double taxation because of pass through taxation where only the profits are taxed unlike these other two in which tax is done on general products not profits. Unlike LLP where administrative paper work is done because its a requirement because of the annual general meeting, LLC and sole proprietor have less paper work because they have less meetings(John, 1988)
Both LLP and LLC have long lives .they out lives the lives of their organization unlike sole proprietor whose may cease if the owner dies or becomes bankrupt. The live of LLP is continuous because it has more business partners.
In sole proprietor there no rules of operating or regulating the business which have been set because it is run by one person unlike LLP which has rules which must be followed by all members of the business .The legal requirement for sole proprietor and LLC are minimal which include licenses permits and registration with tax authorities while in LLP legal requirement are needed example partnership deed (John, 1988)
Both Sole proprietorship and LLC can be started by just one person while for partnership a minimum of two individuals for it to start. In LLC owners are protected from debts and acts of LLC. Raising of capital of sole proprietorship and LLC is sometimes difficulty because it’s the individual investors who are supposed to raise their capital through either from their savings or even borrowing (John ,1988)
LLP has a weakness when it comes to decision making process because all members must be involved in decision the process takes a lot time unlike LLC and sole proprietor where decision is a bit easier because their is confirmation from other members hence it take less time (John, 1988).
LLC and sole proprietorship have limited liability as compared to LLP which has unlimited liability. Mostly when it comes to its formation. The sharing of profits and losses in sole proprietorship ,LLP, LLC is difficult and also may lead to the closure of the business (John,1988).
Different organization operate differently in the global legal environment mostly the media organization they operate under intense hit because of their criticism. For example in Nepal ,Haiti,Colombia notably noted improvement due to openness in politics due improvement in legal matters of the environment (Roger, 2005).
Some of the legal requirement that effect business business are the trading tariffs and rules and international laws. These restricting laws make business very difficulty because trading becomes has to go on if the owners are members of some of the trading unions Other issues are the fluctuation of the currency. Sometimes the currency is very and others its very low. Inflation affects it greatly because it leads to loss to this business mostly when the goods where bought at a high price (Lycnchurg, 2008).
This issues can be solved putting in place regulation measures which include the following Putting in place regulatory measures to care of inflation. To put in place new trading rules and laws which are not restrictive (Lycnchurg, 2008).
David. F, (2003) Pirates Studio ; Sports and Recreation. New York :Workman
Lycnchurg .D, & Moses (2008). MLB Pirates Franchise. US
John., M ,(1988) Law. Aspen: Aspen Publishers
Roger., L, & Gaylord., J (2005) .Business & Economics. US: Thomson West.