HOS209 - Types of Business Structures - Business Structures Case Study - Business Assignment Help
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Case Study Business Structures
Chris and Flavia are long-time friends and have always had conversations about opening a space that combines both their passions: good food and ocean views. Chris is currently studying hospitality and Flavia works as a chef in a restaurant in the city. They both decided to get together and open an establishment on the Northern Beaches of Sydney.
Flavia and Chris decided to start this business together, but they had no money or assets of their own to invest in a cafe. They went to the bank together to get approval for a loan so they can get the business started but were told they need to find a guarantor for the bank loan. The other option they have is to obtain $100,000 either in the form of a loan or an investment from a private investor who would be willing to help them to start the project. Chris had a former boss that could help them with the funding but he wanted the arrangement to be formally documented and asked them to come back with a proposal.
Northern beaches are known to be a very competitive area in the café market and Flavia and Chris need to identify what they can do to differentiate their business from other cafes to gain customers and be unique. Chris makes and surfboards and he wants to get some surf-related merchandise to sell in the shop and create an open space that combines both of his dreams: surfing and food. They have four friends that want to work with them. Some are open to the idea of becoming partners, but Chris and Flavia are not sure about bringing in more partners. They will still need to get three more employees to start the business.
Flavia would work helping with the menu and marketing and Chris as the manager - responsible for the front-of-house. Both Flavia and Chris will manage the finances. Flavia can’t work during the weekends because she would like to continue working as a chef in another restaurant in the city and she needs one day off during the
week. Chris studies on weekday evenings and does not like to wake up early on the weekends.
1. Describe the types of Business Structures that are available to Flavia & Chris. What are the advantages and disadvantages of each of these business structures?
2. Flavia and Chris have asked you to advise them on the best business structure for their circumstances. What would you advise them and why?
3. What personal issues do think Flavia and Chris need to consider before they go into business together? What are the potential problems that can happen in the future?
4. What risks or potential complications are there if Chris and Flavia borrow money from Chris’s friend?
5. If they asked you for advice on how to best formalize this loan arrangement and what should be in their proposal. What would you suggest?
6. What are the risks or implications of Chris and Flavia allowing Chris’s friend to come in and become one of the owners of the business in exchange for his investment of $100,000?
7. What are the advantages and disadvantages of Flavia and Chris sharing all the business tasks? Do you have any advice for them.
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