Famous Subs and Pizza Company (FSPC) is a publicly traded corporation headquartered in Tallahassee, Florida, operating restaurants in ten states. The company also owns a food processing and distribution facility in Jackson, Mississippi. Approximately 20% of the employees work full time; however, FSPC primarily hires part-time employees as delivery drivers, cooks, and sandwich makers. FSPC leases space for most of its restaurants in shopping centers, but the company owns a few of the properties as well as its headquarters office and the distribution facility. The company experienced explosive growth over the last three years, but with the growth came increased legal issues. The CEO, Chip Stone, seeks your advice on the following legal and ethical issues.
S1: Business Organizations
Charmaine, Delia, and Mary met while working for FSPC in Atlanta, Georgia. Charmaine was attending college to earn a degree in management. Delia was attending culinary school to become a chef, and Mary was a recent graduate in sales and marketing. The three ladies decided to open their own sandwich restaurant on wheels, also known as a food truck. They planned to start small with one truck but had big dreams to own a whole fleet of trucks that served a variety of foods.
Charmaine took a business law class and remembers there are several forms for organizing businesses. The ladies have come to you for advice about the various forms of business organizations.
- Analyze three forms of business organizations including advantages and disadvantages related to the business the ladies plan to operate.
- Defend selection of one of the three types of business form for the new business, including the requirements for starting that form of business in your state.