After reviewing the websites from the Learning Activities page for LP10 (#5) on franchise opportunities, summarize your insights and franchise research, and answer the following questions with a recap of your summary on the discussion board. Be sure to identify the franchise you researched in the discussion post.
Identify one franchise opportunity that you would consider, and answer the following questions:
LP5 Assignment: Calculating Financial Ratios
Business is a numbers game, and survival in the marketplace depends on having the right numbers in black ink. It is necessary to compare your venture to other businesses in your industry by calculating key financial ratios. Review the financial ratios in Figure 8.10 in Chapter 8 of your text.
Go to BizStats by BizMiner and select “Financial Benchmark Reports” – Select “Sole Proprietorship” or “Corporation” or “S Corp” – Select your Industry (for example, Retail – food & beverage), then you will see various business statistics and financial ratios. Look at the Industry Financial Ratios for your industry at the bottom, and recap this specific information in a 1-2 page paper including the industry you chose.
Submit this assignment to your instructor via the dropbox “LP5 Assignment: Calculating Financial Ratios.” This assignment is worth 75 points.
*Note: The research compiled for this assignment will be utilized in a future class. Also, submit your assignment to the Locker. Go to My Home – My Tools – Locker – upload files
LP6 Assignment: Research SBA Programs
Directions: Write a one to two page paper researching SBA Loan programs at the Small Business Administration’s website. Also, contact the SBDC (Small Business Development Center) in your area to see what support services are offered for entrepreneurs as well as financing options through the SBA.
Submit this assignment to your instructor via the dropbox “LP6 Assignment: Research SBA Programs.” This assignment is worth 75 points.
LP7 Assignment: Family Business
Directions: Going into business with a family member makes up a major portion of new businesses launched every year. However, family businesses present unique challenges for start-ups. It is important to ensure you have established the best business entity and reviewed appropriate resources before forging into a family business venture.
Research in your own community those types of businesses that are family-owned. Categorize the most common business opportunity (e.g., car dealerships, restaurants, real estate firms, accounting firm, etc) in regard to industry and the legal form chosen for this business. Review the following websites on family businesses: Resources – Family Businesses.
Write a one to two page paper defining keys to success and considerations for building a family business. Also compare the choice of business entities and identify the best legal form for your business based on your research in the community.
Submit this assignment to your instructor via the dropbox “LP7 Assignment: Family Business.” This assignment is worth 75 points.
LP8 Assignment: Human Resource Policies
Directions: Even small businesses should develop personnel policies to cover hiring, firing, and managing employees. This manual can assist in avoiding legal trouble with employees as well.
A source that assists in the development of policies and procedures can be found at Nolo – Law for All sponsored by Nolo. Another source that allows you to develop policies using online software is located at HR Tools hosted by Insperity.
Also review the Business Owner’s Toolkit by BizFilings for information on policies regarding employees. (Go to People Who Work for You – review Recruiting and Hiring, Benefits, rules, motivating, disciplining, terminating.) Additional websites to review for Labor Law Compliance: Go to Resources – Human Resources: Labor Law Compliance. After reviewing these sources, prepare your policies in one to two pages that would address the following for your employees:
Submit this assignment to your instructor via the dropbox “LP8 Assignment: Human Resource Policies.” This assignment is worth 75 points.
LP9 Assignment: The Small Business Owner’s Tax Compliance
What are the laws when it comes to taxes? What forms do I have to fill out? The Internal Revenue Service publishes a “Tax Guide for Small Businesses” which can be reviewed at the IRS website. Make a list of any questions you might have.
Review the tax material provided in Chapter 12. Make a list of all tax forms you will need and print them out. Read through the IRS Small Business Tax Guide. Make a list of any questions you might have and any tax forms needed. Recap your findings in a one to two page paper addressing the necessity of good record keeping and compliance with tax regulations.
Submit this assignment to your instructor via the dropbox “LP9 Assignment: The Small Business Owner’s Tax Compliance.” This assignment is worth 75 points.
LP10 Assignment: ABC Sporting Goods
ABC Sporting Goods
Examining the asking price of a business includes reviewing all past records and assessing the future financial outlook for the business, the economy, and the industry. You are buying the future not the past.
Critical Assumptions for ABC Sporting Goods:
Review attached spreadsheet for Financial Information on ABC Sporting Goods: Profit & Loss
Part I. Complete the following ratio analysis for ABC sporting Goods.
Go to Industry Financials on the Blue Navigation Bar
Select – Corporations 249 not Sole Proprietorships 141
Select Retail Trade
Select Sporting good – Hobby book – Music
Calculate the following ratios: (Based on the last 3 year average)
Compare these ratios to those found in BizStats. Comment on any differences and how they impact the value of the business. Identify any significant trends in the business.
Part II. Estimate the business value using BizStats – Valuation Rule for Sporting Goods Stores at BizStats.
Adjust the business valuation based on your completed calculation and the ratio and trend analysis performed in step I.
Part III. Calculate the viability of purchasing the business based on the following parameters:
You can finance the business for 20% down with an interest rate of 5%, amortization over 20 years. Use the following formula:
Purchase price $100,000, down payment 20% or $20,000 which results in $80,000 being financed.
For $1,000 financed at 5%, the factor to calculate your monthly payment is .66x for every $100 borrowed. That equals $66/month or $792/year.
We now can calculate the free cash flow available to pay the loan amount. We can use the following formula:
+interest paid (use previous years amount from P&L)
+Depreciation and amortization
= Cash flow
For example, if we have $10,000 for our cash flow and our payments are $528 x 12 months = $6,336; then to calculate our DSC or debt service coverage ratio, we divide the Cash flow by the annual debt service or $10,000 / $6,336 =1.58x. If we borrowed $400,000 our monthly payment is $2,640 or $31,680 and if our cash flow is $100,000 then the DSC is 3.16x. Anything greater than 1.20 is considered to be adequate. Comment on the result.
Submit this assignment to your instructor via the dropbox “LP10 Assignment: ABC Sporting Goods.
Why Work with Us
Top Quality and Well-Researched Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
Professional and Experienced Academic Writers
We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.
Free Unlimited Revisions
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.
Prompt Delivery and 100% Money-Back-Guarantee
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.
24/7 Customer Support
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission Essays & Business Writing Help
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.