Make a business plan for beauty salon/spa Part 1: plan should address each of the following points:

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Question:

Make a business plan for beauty salon/spa

Part 1: plan should address each of the following points:

1. Describe the form of business organization you will use.

a. Identify whether your business will be a sole proprietorship, a partnership, or a corporation.

b. Assess and explain the advantages and disadvantages that are most relevant to your chosen form of organization and business.

2. As a new business owner, you do not have the cash flow to buy your space outright and will need to rent.

a. Explain the particular elements of a commercial lease you will need to negotiate with the landlord.

b. As a tenant, what are your rights, duties, and obligations?

3. You will need employees to work at your business.

a. Identify whether you will hire employees, independent contractors, or a combination.

b. Explain the reasoning for your choices; include the advantages and disadvantages.

Part 2 should address each of the following points: when your business was doing well, you hired a manager to assist you. Your manager had control over the cash receipts, a key to open and close the store, the ability to make the schedule, and sometimes placed orders on your behalf. This manager placed multiple orders for merchandise for your store, then stole the merchandise and never paid the vendor. Obviously, you fired the manager upon learning about this, but he has absconded with thousands of dollars’ worth of merchandise and fled the jurisdiction. The vendor is looking for payment claiming that the manager’s actions bound you to pay. The vendor is now filing suit.

1. Explain each of your available defenses, and evaluate their prospects for success.

2. Create an alternative contingency plan to avoid potential problems in the future? In uncovering your manager’s misdoings, you also note that he has not been paying federal, state, and local taxes out of the store’s revenue. He has been “fudging” the store’s business records to make the revenue look lower than it actually is. You assume he has done this to cover for money he has stolen, but he is unavailable to be brought to justice. It is up to you to deal with this problem. So far, the missing tax receipts appear not to have been noticed by the IRS or the state.

3. Evaluate and explain your options for dealing with this problem. In your explanation, include the legal and ethical consequences for each option. Unfortunately, the misdeeds of the world’s worst manager have put your business in a hole from which it cannot recover. You determine that bankruptcy may be an appropriate way out.

4. Evaluate the options in bank raptly that are available to you. Determine the option you think is best, and explain the strengths and weaknesses of the option you have chosen?