Business PlanÃ¯Â¿Â½ PAGE \* Arabic Ã¯Â¿Â½1Ã¯Â¿Â½
Running Head-BUSINESS ENTITY PLAN
Old Terrapin Sports Pub Business Plan
University of Phoenix
Entity Business Plan
The entity business plan that will be discussed in this paper will be the Sports Bar Franchise. The name of the franchise will be named Old Terrapins Sports Pub (OTSP). The business plan presented in this paper will show the planning, research and the necessary forms needed for OTSP. It will also discuss the impact of a global legal environment and how to manage this efficiently along with how the different organizations thrive in such an environment.
Corporations can be one of the most common, dominant and prevailing organizations, size of ownership in a corporation can range from one individual to thousands of owners called shareholders. Although other organizations such as sole proprietorship and partnerships exist and can be honorable organizations, they are not always the greatest organizations for the global environment.
These types of organizations often lack the financing, power and resources needed to endure in the global environment. Advantages of a corporation include limited liability, strong financing and high liquidity of investment (Cheeseman, 2007). Corporations can range from government corporations, nonprofit corporations, and for profit corporations they can have the latest up-to-date technology, the best legal representation and world-wide available resources. The OTPSs is a franchisor and will hope to have several franchises. "A franchise is established when one party (the franchisor, or licensor) licenses another party (the franchisee, or licensee) to use the franchisor's trade name, trademarks, commercial symbols, patents, copyrights, and other property in the distribution and selling of goods and services" (Cheeseman, 2007). Legally, a franchise is an independent contractor. This means that although the franchisees may have OTSPs' trademarks, trade secrets and services, the franchisees are...