Suppose that after you graduate from Berkeley College, you decide to start your

Question

Suppose that after you graduate from Berkeley College, you decide to start your own business. 1) Tell us about the business you would like to start. 2) Why do you think there is a need for that type of business (some research would be helpful for this)? 3) How would you organize your business (sole proprietor, partnership, corporation, LLC, etc.)? 4) Why would you choose that particular form of organization? In formulating your answer to that question, you should include a discussion of the advantages and disadvantages of each of those forms: (1) sole proprietorship, (2) partnership, (3) corporation, and (4) LLC (Limited Liability Company). 5) What does your state require to incorporate a business in that state? Please provide a link to the state information.

Explanation / Answer

The buisness idea would be running an automobile customization shop like the desigin and graphics on all the automobiles available in the market. The need for such customization is because the products are standardized and in order to give some personnel touch or a feeling of being diffrent leads to orgination to this idea. For example a whie car is basic not noticed by anyone, but an white car with graphics is noticed. The structure will be either an sole proprietor or partnership , as the customer base in intial stage will be less and inorder to increase revenue cost on compliance has to be reduced.

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