Getting Started

Description

Please read the following information in order to complete this assignment:

The United States of America is a very entrepreneurial nation. When
surveyed, most Americans have either owned their own business in the past,
owned their own business now, or would like to start their own business in
the future. This assignment will give you a chance to exercise a little of
that entrepreneurial spirit.

Think about a type of business that you would like to start (have started,
or operate right now). Then, answer the following questions about your
business.

1. What will be the name of the business that you will form?

2.Is that name available? To answer this question, you should: (a) conduct
an Internet search to make sure no one else is using the name and (b)
contact (by telephone or via the name availability search feature on its
website) the Secretary of State’s office in your jurisdiction to see if your
proposed name is available.

3.Will your business use other names in addition to the one indicated in
your answer to question 1? If so, please list those names and check to
verify that they are available.

4.Briefly describe your business. What products will you sell or services
will you offer? What industry will your business compete in? Will you
manufacture anything?

5.Will your business be purchasing items from vendors? Will you sell these
items or use them in your business?

6.Other than yourself, haw many other persons (entities or individuals), if
any, will have an ownership interest in your business? What percentage will
each person own?

7.Who will conduct the day-to-day operations of your business?

8.How much time per week will you and/or the other owners, if any, be able
to commit to your business?

9.What type of start-up expenses do you think you will incur in starting
your business? Where will the money come from to cover these initial
expenses and provide for initial working capital? (For example, your own
savings or funds, bank loans, loans or investments from family and/or
friends, other owners/investors, etc.)

10.In which states will your business operate?

11.Will your business have any employees? Will your business utilize
independent contractors?

12.Are there any other details or information that you would like to share
about your business?

Answers:

1. Berry Edible
2. Yes
3. No
4. We specialize in fresh fruit arrangements, creating a fruit basket with a
designed to look like a floral basket and a lot more, we will create baskets
gifts with fruits and chocolate for all kinds of celebration or activity.
The business will fall in the industry of food & bevareges. No we will not
manufacture anything.
5. we weill buy some items and merchandise from other vendors to sell and
use them in our business.
6. 3 people will have ownership of the business myself a 50% and my 2
brother will have 25% each one.
7. Myself with the help of my wife and 2 brothers
8. Approximately 30hours a week per person will commit to the business.
9. We will incurr in a couple of expenses like getting commercial fridge and
coolers and the initial investment of food and equipment. The first initial
expenses will come from all 3 of us working on this business, myself will be
from fund, saving and maybe loans.
10. South Carolina
11. Yes, it will have 1 employee who is the specialist of creating the fruit
baskets and my self and the general manager who is one of my brothers. No,
we will not utilize independent contractors.
12. Not at the moment.