1. You decide to start a business renting inflatable bounce houses for home part

Question

1. You decide to start a business renting inflatable bounce houses for home parties. You begin as a sole proprietor. Give two advantages and two disadvantages of starting as a sole proprietor.
2. Your business does well and you decide you want to purchase more inflatables and rent a warehouse. Your flaky brother in law is willing to invest and wants a share of your business-if it is successful. You do not want him to have any decision making authority. What business form might you use and give one advantage and one disadvantage of it.
3. Ok me year later, you meet someone who has a business renting tents and accessories for outdoor parties and you decide you want to go into business together, combining your assets and client lists. What business form might you use? Give two advantages and one disadvantage. Would s limited liability partnership be a viable option? Why or why not?

Explanation / Answer

Explanation:

Ans: 1 -

Advantages of sole proprietorship:

Disadvantages:

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