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New Business Proposal

In: Business and Management

Submitted By ESEMEGN87
Words 2988
Pages 12
Financial Accounting 557

-------------------------------------------------
Week 6 Assignment 2

Professor BRYAN WOMACK

Date 08/19/14

CulturethiopiA
1.0 Executive Summary
The Culturethiopia Store is a newly start-up convenience store in Columbia, Maryland. The store provides attractive merchandise options mainly to Ethiopian community in the area at bargain prices and quality. The company financed by its owners and private investors Fasika Eshetu, Yowodit Getachew and Eyassu Semegn. They will donate the company financially. Dividends will be paid quarterly on the outstanding equity.
Culturethiopia convenience store incorporated as a limited liability partnership company (LLC). Being incorporated as LLC will protect the owners from double taxation and issues of personal responsibility (Peggy Wood, 2011). If the company fails to succeed, the creditors will not have the right to control the investor's particular asset, or they will not be liable for more than their personal investments in the company and the investors will be treated as shareholders. The majority owner Eyassu Semegn will contribute to the business venture from his personal savings. With excellent marketing plan, the cultural convenience Store expects to growth faster when it became more familiar to the public around the great city of Columbia. The Ethiopian cultural store, Culturethiopia will start its operation soon, and it assumed that the store will be successful in the coming two and three years. The company is unique from any other store around the city because it is the only cultural convenience store in its kind. The store will able to provide the customers excellent service by understanding the needs of the community with a good price. The product mainly imported directly from the beautiful country Ethiopia. 1.1 Objectives * To provide…...

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