Entity Business Plan Essay

1093 words - 4 pages

This entity business plan will define the business goals of a Pilates Studio Franchise. The focus will be on the types of goods and services provided by a Pilates Studio Franchise, who the target customers are, and how or where these services are provided. The paper will also discuss the strengths and weaknesses of various business organizations and determine which is best for this type of venture, and describe how the different business organizations operate in the global legal environment and identify the domestic and global legal issues that impact the various business structures and how those issues can be effectively managed.Pilates encourages harmony of the mind and body for individuals of all ages and physical shape while offering a workout that is stimulating and invigorating. The Mind and Body Pilates Studio, located in Tulsa, is an innovative concept and full service facility that combines health, fitness, and well-being. This facility offers small supervised groups; one-on-one customized sessions with a licenses instructor who cater to specific needs of the client or individuals can work on their own regardless of their current fitness level. These programs are designed to fit individuals of all ages, goals and needs by focusing on the body, mind and spirit by way of nutrition, exercise, and coaching.At Mind and Body our clients are provided with the tools necessary to succeed while enjoying fun, effective exercise classes, healthy food, personalized instruction, and monthly workshops that promote harmony of the mind and body. Pilates is an avenue for body maintenance, physical conditioning, and stretching, preventing injury and can enhance physical fitness, performance of athletes, and speed recovery from injuries and illness. Pilates is recommended as a form of rehabilitative therapy by doctors and physical therapists that will aid individuals in getting fit, staying fit and active making muscles that are longer, stronger and leaner.Business OrganizationThe type of business organization that I have chosen for my business venture is called a single member limited liability company. When forming SMLLC's requires no forms to be filled out in order to start, an Articles of Organization must be filed with the Secretary of State of the state an individual plans on doing business which in this case would be the state of Oklahoma, along with an operating agreement that signifies 1) How the business will be operated and 2) How the profits and losses will be shared and must be written for each venture specifically. These documents can be drawn up by an individual or a business attorney can be used in order to make sure things are done so that every advantage is received such as a good planning tool, offers tax savings, protection from personal liability, not legally responsible for federal income taxes, its easy to set up r dissolve, flexible, simple, income or losses are transferred straight to the owner or partner(s) and reported on their...

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