Boxlight Electronics Business Plan Proposal Outline - 2200 Words

Boxlight Electronics Business Plan Proposal Outline (Term Paper Sample) Content: BOXLIGHT ELECTRONICS BUSINESS PLAN PROPOSAL OUTLINEName Affiliate InstitutionCourse CodeINTRODUCTION Boxlight Electronics is a retail store that sells virtually all types of electronics and accessories. The store's products are categorized into four main groups: 1) phones and tablets; 2) televisions, audio, and camera; 3) computing; and 4) home and living. Consequently, the business will have at least four primary departments that will be involved in promoting and selling the various electronic products under their respective portfolio. The company will carry out its business operations in one of the commercial buildings in Sioux Falls. The target market for the firm will be the youths aged between 18 and 30 years because this demographic is known to have a significant preference for electronic products and more importantly, have the willingness and ability to make a purchase. The proprietors of Boxlight Electronics are optimistic that the business will be a success. Mainly, this confidence is notably influenced by the positive outcome of the feasibility study that the proprietors conducted immediately the idea of starting the business was conceptualized. As a partnership, the owners plan to grow and expand gradually up to the point where the company enjoys economies of scale and a high competitive advantage in the market. Eventually, the partners wish to change the business structure into a corporation so that it can compete effectively both at the state, national, and international levels. The vision and mission statement of Boxlight Electronics is to deliver high-quality products with high service quality delivery practices. DESCRIPTION OF THE TYPE OF BUSINESS ENTITY Boxlight Electronics is primarily a start-up company that will operate as a limited partnership entity. Specifically, there will be a total of two partners who will make an equal contribution of share capital. One of the partners will play the role of a managing or general partne r whereas the other will be a sleeping partner. The general partner will take an active interest in the conduct and management of the business, including the administrative oversight of the firm and employee recruitment and hiring (Warner Clifford, 2008). On the other hand, the major role of the sleeping partner will only be the contribution of the share capital. It is worth to point out that just like the rest of the business structures; there are various advantages and disadvantages of incorporating Boxlight Electronics as a limited partnership.Subsequently, there are four key benefits that will accrue to Boxlight Electronics for adopting the limited partnership form of business. First, the company will enjoy tax benefits (Warner Clifford, 2008). Similar to the general partnership, the profits and losses in Boxlight Electronics will flow through the business the respective partners, both of whom are taxed on their individual personal income returns. Second, the partners will enj oy liability limits (Mann Roberts, 2011). The liability of the partner's debt in Boxlight Electronics will be limited to the value of property or amount of money that the individual partner will have contributed to the business. Third, as opposed other business entities such as corporations, there is less paperwork involved in forming a limited partnership (Warner Clifford, 2008). It is critical to point out that as a start-up business, the best formation approach for Boxlight Electronics will be choosing a business structure that is less demanding. Finally, the limited partnership business entity will provide Boxlight Electronics a wider pool of investment opportunities (Sulaiman, Ghadas Khan, 2011). The limited partnership structure will offer investors the chance to benefit from its profits and losses without having to be directly involved in the operations of the business. Thus, the business will have reasonable access to adequate financing for both business growth and expans ion. Nonetheless, there are two major demerits that are likely to cause a negative impact on the operation and performance of Boxlight Electronics. First, the general partner will have to carry the debts and obligations of the business even when they are not directly involved in the administrative and operational management of the business (Sutton, 2009). In other words, in case Boxlight Electronics enters into bankruptcy or sued, all the liabilities and debts will be the responsibility of the general partner. Second, as a limited partnership, there is some risk of Boxlight not complying with the partnership agreement. Specifically, since there will only be two partners who are the business investors, it may be difficult to hold an annual general meeting (AGM) as provided under the partnership agreement. STEPS FOR STARTING BOXLIGHT ELECTRONICS In the State of Dakota, there are five main steps that should be taken or followed when forming a partnership business (Smith, 2017), a the se are the steps that the partners of Boxlight Electronics will follow when establishing the business. First, the initial step is to identify and select the business name for the partnership. Notably, it can be observed that the partners have already settled on using "Boxlight Electronics" as their business name. It is imperative to point out that in South Dakota, the statutes on business formation allows entrepreneurs to use the surnames of the individual partners or can use a factious business name (Smith, 2017). It is evident that the partners in the proposed business have not settled on using their surnames as their business name. Instead, the partners have identified a fictitious business name "Boxlight Electronics." The potential partners will submit this name to the South Dakota Secretary for consideration and subsequent registration. Third, the Boxlight Electronics partners will draft and sign a partnership agreement as required by law. Fundamentally, the partnership agreeme nt will provide a basic framework on how the partners will handle particular business situations. Subsequently, there seven essential items that the partners will include in their partnership agreement, namely:The contribution of each partner to the partnership;The methodology that will be used to allocate profits, losses, and draws of the business;The authority of each partner and their respective duties and responsibilities in the business; The voting rules for business decision-making; The procedure for admitting new partners into the business;What happens to the business upon the death, withdrawal, or bankruptcy of the partner; andThe dispute resolution mechanisms. Fourth, the business partners will obtain the relevant permits, licenses, and zoning clearance. In particular, the partners will source all the necessary information for obtaining the permits, licenses, and zoning clearances from the South Dakota Information Gateway. Furthermore, the partners will contract the servi ces of a qualified and reputable attorney to offer legal advice on all the local and federal regulations that business should comply with and the different mechanisms that the business should put in place to ensure that there is persistent compliance to these regulations. Finally, once the necessary permits, licenses, and zoning clearance have been obtained, the partners will get an Employer Identification Number (EIN) from the Internal Revenue Agency for purposes of enabling Boxlight Electronics of making tax returns. The registration for the EIN will be done online at the IRS website. Parenthetically, the other essential steps that the partners will take into account once the partnership has been created include opening a business account and obtaining general liability insurance for the business. The rationale for opening a business bank account is that it will facilitate the partners to keep their personal and business income separate. On the other hand, since the general partne r will take the obligations and debts of the business, the Boxlight Electronics partners will obtain the general liability insurance to offer the general partner financial protection form unforeseen events. A VALID CONTRACT WITH SUPPLIERThe following is a draft of a valid contract between Boxlight Electronics and a potential supplier:AN AGREEMENT BETWEEN BOXLIGHT ELECTRONICS AND [NAME OF SUPPLIER]This Deed of Agreement is made and entered into on ____________ day of ___________ 201_BETWEENBoxlight Electronics, a Sioux Falls-based electronics retail store having its headquarter office at Sioux Falls, represented by its managing partner (here in after referred to as THE PURCHASER which term shall include its successors and assigns) on the one Part.AND__________________________________ having its office at _______________________________ (here in after referred to as THE SUPPLIER which term shall include successors and assigns) on the other Part. Whereas THE PURCHASER seeks to purchase ________________________ from THE SELLER for local retailing and distribution purpose.And whereas THE PURCHASER is willing to purchase ________________ for the purposes mentioned above.And whereas for this purpose THE PURCHASER desires to appoint THE SUPPLIER to supply ____________________________. And whereas THE SUPPLIER explicitly express their desire to enter into an agreement with THE PURCHASER for the supply of the product described in Schedule-A.NOW THIS AGREEMENT DEED WITNESSES THE CONDITIONS AND TERMS AS FOLLOWS: THAT this deed of agreement shall come into force immediately and it shall remain valid until the final delivery of the product under sale or cancelled by THE PURCHASER. THAT the product under sale more precisely described under Schedule-A shall be supplied by THE SUPPLIER at________________________________________...

Canadian Health Care System Essay - 968 Words

The idea of what the Canadian Health Care system should be varies between the countrys three political parties. According to the official website of the New Democratic Party of Canada, the NDP believes that every Canadian citizen should have quality, reliable health care. In fact, the NDP initially created Canadas public health care system. In addition to the current health care system, the NDP is trying to create legislation that would grant free dental and drug coverage for seniors over the age of 65. Lastly, recent debate in both Canada and the United States has been on the subject of whether or not health care should be privatized. It is the belief of the NDP that the privatization of health care would have a negative effect in†¦show more content†¦In the United States of America, there exists a two-party system comprised of the U.S. Democratic Party and the U.S. Republican Party. Although these two parties have become somewhat neutral on many issues of national policy, each party has a unique perspective of how the ever-looming Social Security problem should be alleviated. First, the U.S. Democratic Party believes that in order to fix the Social Security problem, pension plans must be reformed and savings incentives must be expanded nationwide. Also, the U.S. Democratic Party has persistently argued against the recent idea of privatizing Social Security. On the other hand, the U.S. Republican Party believes the Social Security system is in need of much more drastic change. According to statistics provided by the official website of the Republican National Committee, Under the current system, todays 30-year-old worker will face a 26% benefit cut when he or she reaches normal retirement age. Also according to the RNC website, By 2041, when workers in their mid-20s begin to retire, the system will be bankrupt - unless we act now to save it. In order to fix this troubled system, the U.S. Republican Party believes that the only answer is privatization. Another pressing issue in American politics is the issue of energy. Although both sides agree that our dependence on foreign is unhealthy, each side promotes a different approach to change it.Show MoreRelatedThe Canadian Health Care System1306 Words   |  6 PagesThe Canadian healthcare system is currently ranked in the top 11 OECD countries making the Canadian healthcare system one of the best in the world, although like all perfect systems, there are always uncovered flaws within. When examining certain attributes and traits within the system, such as accessibility and the general quality of healthcare performance is considered to be low ranking amongst international practices, thus improvements are needed. More importantly, the Canadian health care systemRead MoreThe Canadian Health Care System2167 Words   |  9 PagesThe Canadian health care system is funded majorly by the public, with very few private donations. Over the past few decades acts of large-scale philanthropy by wealthy private donors have started to increase, due to the investments in social programs and infrastructure from the government declining. Without the aid of private donors and large sources of income from outside of the public (government) the infrastructure of all hospitals, clinics, and the totality of western healthcare systems wouldRead MoreThe Canadian Health Care System1111 Words   |  5 PagesThe Canadian health care system is often touted as a better health care system compared to the way the United States administers health care since the two neighboring nations appear to be economically and socially similar. The U. S. and Canada have extensive health care systems for it citizens but each country has different methods to financing health care. Health care in Canada is funded at both the provincial and federal levels while the U.S. health care system funded by a combination of publicRead MoreThe Canadian Health Care System1226 Words   |  5 Pagesthat â€Å"The 1983 Canada Health Act replaced the 1947 Hospital Insurance and Diagnostic Services act because of the shift from a system of 50-50 federal-provincial cost sharing to a system of block funding established in Ottawa in 1977† (Fierlbeck 2011, pg.20). Until the period of the mid 1980’s, the Canadian health care system is to be categorized in a disarray, having no foundation to components and accomplishment. The system is to rely mainly on cost sharing; whereby in a health insurance policy onlyRead MoreThe Canadian Health Care System Essay1191 Words   |  5 PagesA Poisoned System While many may argue that the Canadian health care system provides equal treatment to every Canadian, evidence shows that this is not the case. There are major discrepancies within the system regarding Indigenous people that need to be addressed including several factors such as: housing issues, stereotypes Aboriginals face and the lack of Aboriginal doctors. Colonialism has contributed to multiple issues in the lives of Aboriginal people including inadequate housing and cleanRead MoreThe Canadian Health Care System2066 Words   |  9 PagesIntroduction to the issue (e.g. problem, dilemma, concern); include a thesis statement. The Canadian health care system is certainly unique in its features†¦. Despite, the fact that the Canadian health care system is one of the most evolved in the world, it lacks a sense of an efficiency effective mission, in which would improve the quality and accessibility of health care in the management perspective. In this paper we will analyze current ineffective practices, and alternate methods; in regardsRead MoreThe Canadian Health Care System1527 Words   |  7 Pagesfor having high standards of health care with free access to all citizens. Despite this being a widely held idea, the reality is that marginalized groups are not experiencing the same standards of health care as other Canadian Citizens. Despite the fact that some researchers say racialization does not play a factor in the level of health care received by people (Guilfoyle 1512), Indigenous Peoples in Canada do not have equal access to the Canadian health care system due to the problems arising fromRead More Canadian Health Care System887 Words   |  4 Pageswas not until 1946 that the first Canadian province introduced near universal health coverage. Saskatchewan had long suffered a shortage of doctors, leading to the creation of municipal doctor programs in the early twentieth century in which a town would subsidize a doctor to practice there. Soon after, groups of communities joined to open union hospitals under a similar model. There had thus been a long history of government involvement in Saskatchewan health care, and a significant section of itRead MoreThe Canadian Health Care System1694 Words   |  7 PagesIntroduction The Canadian health care system fosters universal and comprehensive access to essential health care services (Flood, 2004). However, there have been debates on what services are necessary as espoused in the Canada Health Act (Caulfield, 1996; Caulfield Zarzeczny, 2014; Charles, Lomas, Giacomini, 1997). Although there are similarities among provinces in terms of core services covered under publicly funded medical care, some variability still exists across provinces (Charles et alRead MoreThe Canadian Health Care System1531 Words   |  7 PagesIntroduction Emergency departments are considered an important aspect of the health care system. For many years, wait times have been an area of concern for many Canadians and remain a significant issue. One of the major concerns within the Canadian health care system is the amount of time spent as waiting time in the healthcare services. Wait times are the length of time from when the patient is triaged and registered, to when the patient leaves from the emergency room (Affleck, Parks, Drummond

Intoduce free essay sample

As you already know, I’m running for 9th grade class representative this year. Before I start, I would like to wish good luck to my fellow candidates. First I’m going to explain what a class representative is and what you should expect of me if I was elected. A class representative basically takes the peoples’ ideas for events like Homecoming, and Spirit Week to the student leadership and stands up and pushes for your ideas to be heard on this campus. I am very dedicated to this school and want the best for you and our school. One way, to show that I’m dedicated is that I’m very involved. Every year, I’ve gotten even more involved in our school. But I’m not one of those people that does all these things with half effort ; Everything I set my heart to do or sign up for, I’m signing up to be dedicated and give a 110%. We will write a custom essay sample on Intoduce or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Second, I want you to know that I’m going to take my job seriously. I will have an Open ear to everything and will not make fun of the idea, because I believe no idea is stupid and I will bring ALL the ideas to the student leadership for consideration. I, also, will not only bring ALL your ideas to student leadership but I will come back to our class after the meetings and communicate with what the student leaderships’ response was to ALL your ideas. In the meetings, I won’t be afraid to voice your ideas and opinions to make our school better. I believe that we have the best 9th grade class and that God has gifted all of us with creativity and therefore, we should be heard. One more thing before I go is, if I got elected, I wouldn’t be the only 9th Grade Class Representative. We all would be because I’m willing to take all YOUR ideas to student leadership. Your School, Your Voice. Thank You References 2017. A class based language model for speech recognition IEEE Xplore Document. Ieeexplore.ieee.org. Downloaded from http://ieeexplore.ieee.org/abstract/document/541121/?reload=true on 12 May 2017.