Response: Starting and Naming a Business Post
It was interesting reading through the post on starting and naming the business especially on response to the questions provided. It is true that the type of business that an individual create determines how much control the owner of the business will have over the business; the form of liability will take and the structure of taxes. It is also apparent that the success of a business is greatly influenced by economic forces around as well as professionalism. Therefore, it was important for Shania to select a business that fits her status for good development. For instance, in regards to Shania’s business form choice, I agree with you about her choosing limited partnership because of the reasons you have listed. As an addition, another advantage with business form choice is that in limited partnership a partner is held responsible only to the amount he or she has invested.
Moreover, in regards to whether Shania should become a franchise or open an independent coffee house, I do concur with your suggestion that she should open as an independent coffee house. It is true that that with kind of freedom she wants in the business, it will be challenging to open a franchise. For instance, a franchisor would demand some standards which eliminate her Christian theme as well as the desire to use her business methods and name. It is also important to note that franchisor celebrates those people who execute the set standards as required and may terminate from the system those who do not operate based on the standards. Therefore, I believe that Shania will have the freedom to operate her business based on her beliefs and values by opening an independent coffee house.
In regards to the name “The Gathering place” is an interesting name as it symbolizes where people gather; thus, it can go well with a coffee house. However, I support your idea that Shania should consider using another name other than “The Gathering Place.” It is apparent that the name is associated with a drop-in homeless shelter in the metropolitan area. Apart from that, there is also a church in Washington that has a similar name. It is also important to understand that the name is commonly understood as a religious term to mean where people gather to worship. Therefore, I would also advise Shania to search for another name that will match her coffee business. There exist a variety of names such as “Shania Coffee House” among others that she choose to match the business.
I completely agree with that fact that Shania should consider partnering with the husband. As supported by the Bible verse “Mathew 10:8- the two will become one flesh”, it a good idea for Shania to involve the husband. Marvin’s financial investment and decision making are vital in Shania business. Also, the husband will also support her values while managing the business. However, I do not support your idea that Carlos will not be a good partner because of her religious status. In as much as Shania wants to establish a Christian based business, she should not discriminate others in terms of religious status. Shania should embrace the aspect of diversity in her business because she will need all the customers regardless of their religious background.
Badrinarayanan, V., Suh, T., & Kim, K. M. (2016). Brand resonance in franchising relationships: A franchisee-based perspective. Journal of business research, 69(10), 3943-3950.
Berry, E. (2019). Limited partnership law and private equity: an instance of legislative capture? Journal of Corporate Law Studies, 19 (1), 105-135.
Puntoni, S. (2015). Embracing Diversity (No. EIA-2015-061-MKT).