Veronica ponce UEI COLLEGE GARDENA,CA BUSINESS ADMINISTRATION MOD 130 BUSINESS BASICS INSTRUCTOR: FRANK EZENEKWE
Amazon flowchart
Advertisement and also having some of the best prices online
sell products at a standard mark up and alternate retail strategies by being a gateway for other retailers and be a market place for used goods , and a variety of other items
make sure the customer receives the item without any issues so they can refer more people to shop online
Expedia is able to let you go on their website for a one stop shop to take care of the entire trip from flights to hotels and also it includes the daily deals.
To use expedia to be here today and gone tomorrow, they also cut out all the running around process looking on hundreds of different websites
Allowing people to find a source of income by just having a car, and let people who want to make there car a way to earn fast cash
No commitments
able to choose when you want to work is one of the main reasons it is so successful
Etsy makes you want to go to there website because it’s a place that easy for someone to show case and sell there items they have customized or made.
Its very hands on, so you know your getting the customer exactly what they ordered since your shipping it.
An easier alternative then having to open your own boutique also you are making your first steps as a business person.
they are a website with many celebrities who charge to teach you step by step courses to sing ,cook , write , ect.
Charge a flat fee and they let you re watch until you master it
These videos are already recorded so it’s a continuous cycle of money
Sole proprietorships
Is a business that is owned and usually operated by one person. The sole proprietor simply decides that he or she is in business and begins operations. The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts.
Advantages
Disadvantages
The advantages of having sole proprietorships would be it being the simplest form of starting your own business, can be established without using the services of an attorney, retains all of the profits, no special taxes, and last but not least having the flexibility of being your own boss.
The main disadvantages to being a sole proprietorship are: Unlimited liability: Your small business, in the form of a sole proprietorship, is personally liable for all debts and actions of the company. Unlike a corporation or an LLC, your business doesn't exist as a separate legal entity.
Examples of companies that use corporate structure were Walmart ,JcPenny , Proctor & Gamble.
Partnerships
Partnership is a voluntary association of two or more persons to act as a co-owners of a business for profit.
Advantages
Disadvantages
Some of the important advantages from having partnership in a company would be availability of capital and credit, being able to combine business skills and knowledge ,retention of profit, and as well of no special taxes.
Disadvantages of a partnership include that: the liability of the partners for the debts of the business is unlimited. each partner is 'jointly and severally' liable for the partnership's debts; that is, each partner is liable for their share of the partnership debts as well as being liable for all the debts. Also lack of continuity partnerships are terminated if any one of the general partners die , withdraws ,or is declared legally incompetent, but the remaining partners can buy the partners share.
Corporations
A company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.
Advantages
Disadvantages
Advantages. Generally, a corporation's shareholders are not liable for any debts incurred or judgments handed down against the corporation. Shareholders only risk their equity in the corporation. Corporations may be able raise additional funds by selling shares in the corporation.
Some of the important disadvantages would be the difficulty and expenses of formation ,increased paperwork ,conflict within the corporation ,double taxation, and lack of secrecy.
Steps to forming a Sole Proprietorship 1.
Choose a name
2.
File a fictitious business name statement with the county recorder
3.
Obtain licenses ,permits , and zoning clearance
4.
Obtain an employer identification number
• You can double check your company name to make sure it isn’t to similar to another company at California Secretary of State , U.S patent and trademark office and the recorders office where you plan to do business.
HOW TO FORM A LIMITED LIABILITY COMPANY 1.
Choose an available business name that complies with your states LLC rules
2.
File formal paperwork, called articles of organization and pay the filing fee.
3.
Create a LLC operating agreement which sets out the rights and responsibilities of the LLC members.
4.
Publish a notice of your intent to form a LLC (only required in some states)
5.
Obtain licenses and permits that may be required for your business.
How to form a corporation 1.
Choose a corporate name (you can check to see the availability of the name by mailing a completed name availability inquiry letter to the California secretary state office in Sacramento)
2.
Prepare and file articles of incorporation
3.
Appoint a registered agent
4.
Set up a corporate records book
5.
Prepare corporate by laws
6.
Appoint initial corporate directors
7.
Hold your first board of directors
8.
Hold your first board of directors meeting
9.
Issue stock
10.
Comply with California tax requirements
11.
Comply with other tax regulatory requirements
12.
File a statement of information
13.
Foreign corporation doing business in California (Foreign corporations must appoint a registered agent for service of process physically located in California. To register, file the Statement and Designation by Foreign Corporation form)