Help with Business homework?

The teacher really isn't being clear on this homework... Team Assignment A. Identify a new business your team will organize. Describe the nature of your business and its products and/or services. 1. Generally describe the key elements of a new business including: a) Financial Structure and... show more The teacher really isn't being clear on this homework...

Team Assignment

A. Identify a new business your team will organize. Describe the nature of your business and its products and/or services.
1. Generally describe the key elements of a new business
including:

a) Financial Structure and terms
i) Equity – how many owners; classes of stock or partnership interests, etc.
ii) Debt – by owners or third parties, etc.

b) Property Requirements
i) Owned – by whom
ii) Leased – terms
iii) Rental – rent amount

c) Marketing Plans
i) Sales Agents
ii) Distributors
iii) Franchises

d) Employees
i) Owners
ii) Hired Employees
iii) Compensation issues for each group
2. Type of Business Organization or Organizations To Be Used.

a) Sole proprietor with lenders of capital
b) Partnership
c) Corporation
d) Limited Liability Partnership
e) Limited Liability Corporation
f) Franchise
g) Joint Venture

3. Analyze and Discuss in detail which form (or multiple forms) of business organization your team believes will be most efficient for your new business and provide appropriate legal protection to your owners as well as favorable tax benefits for your business and its owners. In your discussion please include a brief summary of your reasons for rejecting any of the other forms of business organizations, which you considered using.

B. Suggested Length of Paper

1. 5 page minimum


I especially don't understand "a)" could someone help me get a general understanding what I should do with that? My teacher is always in too bad a mood to help students.
Update: I was planning on doing a company that sells sports stuff similar to a Models' or Dick's Sporting Goods.
2 answers 2