Author |
Message |
Herckleperckle
Member
11-20-2003
| Thursday, January 24, 2008 - 1:30 pm
Well, first, I am pooped. I've got to go to bed earlier and get more sleep so I can actually behave like someone with a job. Getting up this morning at 7:15 a.m. to be at the restaurant to meet my SCORE mentor at 9:30 this morning wasn't so bad. Staying awake right now is, though! I met my mentor, Bob, who had another mentor with him--Paul (Maybe he thought I'd be a nut. Dunno.) Both are in their 60s and they turned out to be as kindly as they appeared. They were quite knowledgeable but were able to talk without being overbearing at all. Just the right personality you would want in a mentor, as both had a sense of humor (in a quiet way). It was a very comfortable, helpful meeting! The upshot of the meeting was this: 1. Call my broker and put a HOLD on my liability insurance. They told me I shouldn't start paying for coverage for a business that wasn't even up and running yet. AND, that I wasn't ready to start it. Gulp. 2. They urged me to take this 3-part course at SCORE called the Business Startup Series. I came home and signed up for it immediately. The courses are on Feb 5 (primary day here, ack!), Feb 12 and Feb 19. 3. I have these assignments from the guys: a. Forecast my earnings (daily take) b. Sign up for the SCORE Startup Classes. (Done) c. Call my broker and put a hold on the liab insurance. (Done) d. Talk to people in my neighborhood re the business (people walking their dogs, etc) about the idea e. Start structuring services to meet the needs in the area I intend to serve f. Decide on animals I will and won't serve. (Uh, snakes and spiders, no!) g. Call the company I intend to use as a cover (for when I am sick) and start working for them. To find out if I really want to do this. Ask all kinds of questions--why they chose a franchise, etc., what things worked and which didn't. Once I establish a relationship and have other things in place, talk to them about partnering with them for coverage. h. Once I start taking customers, make arrangements to meet the animals in advance of the service date. i. Attend trade shows (check internet) for the pet sitting/dog walking/doggy daycare business j. Think about website and business relationship/links to a vet. So . . . once I take the classes and do what I can on the above, I am to call Bob again and see where I am. That sounds reasonable and logical to me, so that is what I am going to do!
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Mocha
Member
08-12-2001
| Thursday, January 24, 2008 - 1:42 pm
Wow I'm pooped just reading all that lol. Good idea bout working for someone already in the business.
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Lumbele
Member
07-12-2002
| Thursday, January 24, 2008 - 1:50 pm
Yep, those boys do make a lot of sense, now that they mention their points. However, how easy do they think it is going to be to get that job with the competition? Do they have an opening?
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Dolphinschild
Member
06-21-2006
| Thursday, January 24, 2008 - 3:30 pm
Hi HP! I just found your thread. I am sooooooo excited for your new adventure I know you will be great. Did you settle on Pet Nanny as your business name. I really like it alot. I was taught during college that you want your bussiness name to be at the top of the list in phone book. People generally stick with names in the upper level. For example your going to be introducing yourself as Dale right? eg. Dale's Pet Nanny Services. That will bring your name up higher, and using your name personalizes it and Pet Nanny Services will definately give description. It is just a thought. Hugs...
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Costacat
Member
07-15-2000
| Thursday, January 24, 2008 - 3:56 pm
my pet granny has a recip with another service; the other service also sits for my pet granny's kids when she's gone. lol hp at the pet granny pet nanny confusion. too fuinny! if u want a copy of a contracxt let me know and i'll dig it up and fax it to you. may be a day or two tho cause of my shoulder but i think i know where one is.
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Herckleperckle
Member
11-20-2003
| Thursday, January 24, 2008 - 7:20 pm
I just returned home from the Obama campaign office! Thanks, Mocha. It seems I have suddenly lined up a couple projects that are going to keep me busy, huh? Dolphinschild, well, the die is cast. Too late. Already registered my company under that name--and have Julieboo working on the logo for me. I made a decision not to associate my name with the business for liability reasons. Thanks for the thoughtful suggestion, though. It does make sense. Lum, Fetch--in Delaware-- has a note on their site that they are ALWAYS looking for sitters and walkers. So I will contact them and let them know I am interested and see what transpires. They were good fellas! Costacat, thank you! I would love a copy. But TAKE YOUR TIME. I am nowhere near ready for it, as it turns out. Btw, I do have a printer/faxer, but never installed the fax part of it cuz we didn't have a phone line. With Comcast, we got that a phone line free (well, kinda), so when I get around to the installation, I'll let you know and give you the number. Thanks again!
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Texannie
Member
07-16-2001
| Friday, January 25, 2008 - 5:17 am
Herc, one of the things I have done is donate my services to school's auctions as a way to get my name out in the community.
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Herckleperckle
Member
11-20-2003
| Sunday, January 27, 2008 - 12:18 am
Smart, Texannie! Guess it helps to still have your dd in school, then, huh? I am sooo out of that loop now. But I'll apply the idea when and if it seems approprite, because I agree that is one more avenue where you can market your business!
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Texannie
Member
07-16-2001
| Sunday, January 27, 2008 - 6:40 am
Yes, it does help. Schools usually have their auctions in the spring, but I would contact the school at the beginning of the year for PTA presidents' name. Also advertising in the school directory is good. Are you sending your brochures to area vet offices?
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Herckleperckle
Member
11-20-2003
| Sunday, January 27, 2008 - 7:30 am
Will be! I am taking those SCORE classes first, meeting with my mentor again, and then going forward.
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Hukdonreality
Member
09-29-2003
| Sunday, January 27, 2008 - 7:51 am
I found some cool silouettes. Can you use anything like these when designing your business cards/flyers?

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Vacanick
Member
07-12-2004
| Sunday, January 27, 2008 - 7:58 am
Very cool Huk!! I do love the whole 'nanny/Mary Poppins' idea. HP, I went out to breakfast yesterday with a girlfriend who runs a home-based-business and because we 'mentioned' her business during breakfast she get's to write-off our meals as a business expense. Just thought I'd share! 
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Herckleperckle
Member
11-20-2003
| Sunday, January 27, 2008 - 8:09 am
I love them, Huk. Waiting to see what Julieboo comes up with, cuz I asked her to help me. Not pressuring her, though, as she has some extra time now, since my courses run thru Feb 19. Now THAT is something more to smile about, Nic! Thanks for the reminder about that nice plus!!
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Hukdonreality
Member
09-29-2003
| Sunday, January 27, 2008 - 8:21 am
Glad you like them Vaca and Herck. So when I take a trip to meet you in person one day, you can write off the trip because we'll talk about business. 
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Herckleperckle
Member
11-20-2003
| Sunday, February 10, 2008 - 12:12 pm
Thought I'd share my experience in my first SCORE class. If you are not familiar with SCORE (Counselors to America's Small Business), the name is an acronym which they evidently rarely use anymore (not explained on their site), but the ORE part stands for Organization of Retired Executives. What the group offers is individual counseling (mentoring) by a retired executive and classes taught by retired executives (some of whom are still working--in their own small businesses). So, you learn the basics and gain from their experience. Their Business Startup Series consists of 3 classes (cost: $100 for all three). Each class is one week apart and are held at a senior center (about an hour's drive from where I live). So last Tuesday, I attended the first one, entitled, "How To Succeed In Business" and rebilled in class as Entrepreneurship. (My next class is Tuesday, Feb 12.) I got lost (damned Mapquest was goofy; if I had driven using the roads I knew, I would have been fine) and walked in 20 minutes late! Ack! A lively, tall guy (who still had some hair), dressed casually taught the class. He was very funny, so the class was quite enjoyable. Luckily, they were still introducing themselves and talking about their businesses. I missed all but two other people, darn it. There were 5 others in class and they were all young gals! I was the oldest one there and felt it when we took a bathroom break. None of them spoke to me. Oh well. Anyway, about the class: The teacher was great. He had a slide show and syllabus (with all slides captured in a handout) to accompany his talk. He stopped often (appropriately so) to ask us questions with respect to the material and our experiences/thoughts. I sat beside a man who was monitoring the class because he was going to become a mentor himself. He caught me up with respect to getting the handout and having me fill out a couple of forms. So I didn't miss any of the slides except the first, which showed the topics to be covered in today's class and another which was actually just a title page to the workshop. One of the two gals I did get to hear speak talked about opening (I missed exactly WHAT it was called or WHAT it was) a gym (of sorts) for kids up to age 11. For fun and exercise rather than gymnastics. I think I have that right. I'll talk to her next week and confirm. The other was a beautician with 14 years experience. (Heck, she looked 20 to me.) She wanted to open her own shop. The teacher moved to me. I apologized (again) for being late, explaining I had gotten lost. And that I was sorry I had missed most of their intros. Then I told about my prospective business, why I had chosen it, where I was with it, and how I saw it eventually growing. He asked me questions about my experience in the field and about researching the competition. Content slides: Slide 1: A sketch of a guy flipping a coin. It was meant to elicit what each of us thought about when (with respect to our business plans) we saw the cartoon. Issues of decision making, risk and fears came up. Slide 2: Introduced idea of our quest to change an idea or a dream into a reality. A lead into the 'wonderful adventure of entrepreneurship'. Slide 3: Talked about risk (possible harm and involving things usually not under your direct control); profit (probable reward: money and things usually under your control). So Entrepreneurship means POSSIBLE PAIN for PROBABLE GAIN. Next few slides were supposed to exercise and strengthen "the most important muscle in our bodies:" our minds. Slide 4: Picture of a strange looking man wearing sunglasses whose lenses were reflecting something in the distance. We were asked to describe what he was doing and what was reflected in his glasses. After polling each of us, I was the only one to get it right. Duh. Old and wise. Didn't matter what was reflected in his glasses. He wasn't looking at anything physical. He was being introspective/dreaming. The summary sentences for that slide: "Dreaming, introspection, contemplation. Call it what you want, it is all mental exercise. By exercising your mind, you avoid the pitfalls encountered by those that fail And most do. Due to a lack of mental preparedness. Slide 5: Entitled, Failing to Plan is Planning to Fail. Showed these stats: Every year 500,000 new businesses start. After one year, 300,000 still in business. After 4 years, 100,000 remain. After 10 years, only 20,000 still in business. Slide 6: This workshop will help you to be one of the survivors!! Slide 7: Know Thyself: Ask yourself these questions: 1. Where do I want to be in 5 years? 10 years? 2. What kind of lifestyle suits me best? 3. How much does that lifestyle cost? 4. Why does my idea seem to be a good one? 5. Who can I confide in to help me decide? 6. When do I want to get started? We all shared and discussed our answers. Slide 8: Know Thyself. The basic things you need: Health, Love, Wealth, and Time to enjoy them. Slide 9 Know Thyself: Health, Love, Wealth and Time to enjoy them (again). Think of someone you know who you consider to be a success (as it is defined above. And for each of these traits on the next slide, rate yourself compared to that person according to the scale below: Points 10: I am better than anyone else I know. 8: I am better than most successful people I know. 6: I am as good as most successful people I know. 4: I am not as good as most successful people I know. 2: Nearly everyone is better than me. 0: Anyone is better than me. Slide 10 Here are the attributes to use in scoring yourself using the point system above (and keeping that 'most successful individual you know' in mind: A. Positive Attitude B. Dedication, Persistence, Determination C. Adaptability D. Integrity E. Decisiveness F. People Sensitivity G. Tolerance for Stress H. Business Knowledge (he recommended Quick Books for all us non-accountants) I. Common Sense J. Willingness To Get Help I scored myself a 70. Instructor said everyone should have scored a minimum of 60, and that he scored himself a 70. (That made me feel pretty good.) About 2 or 3 others scored themselves in the 80s. Slide 11: Know Thyself: Rate the Trait, Analyzing the Results * If your score is above 60, you have better chances for achieving success without significant personal changes * If you scored 60 or lower, you may need to make some changes in your personality to improve your chances of being successful. * It is highly recommended that you have someone who knows you well and whom you trust, score you on these traits. (Ed scored me a 64, the creep.) * Then compare your results with theirs. Traits with variances of more than 4 points should be discussed. (The one where we varied the most was actually a 4-point difference --for people sensitivity. Uh, I think some of you would agree with his lower score of 6. I gave myself a 10! Heh.) Slide 12: Competitive Learning. Intro. Your mind training has thus far focused on YOU. Now your attention must be turned to the other participants in the business cycle: * Customers, and * Competitors Slide 13: Competitive Learning (Customer Defined) The dictionary defines a customer as one who trades regularly at a shop; a patron. Patron is from the Latin patronus, which means protector. Customers therefore protect your business. They: * Keep it from failing * Cause it to thrive! Slide 14: Competitive Learning. (Customer defined) An individual is not a customer until after the initial and subsequent sales. Up until that time, these people are merely the buying public. They are spending money in places other than yours. They are someone else's customer! You must therefore pry them away and consummate several transactions to make them your customer Slide 15: Competitive Learning (Prying Customers Away from Competitors) To pry them away, they must be convinced to give you a try. But unless that try results in several buys, that person will return to their original source. Not only have you wasted resources during the pry, but the person will have renewed allegiance for their original source. So what does that mean to you? Slide 16 Competitive Learning (Customer Defined) The formula for a customer is: * Give them a PRY * So they will give you a TRY * With the hope that they'll: Buy Buy Buy Why? -> Slide 17: Competitive Learning (Competition Defined) * Dictionary defines competition as rivalry. Rival comes from the Latin word rivalis Rivalis means to use the same river as someone else * Not merely someone else in the same business as you Slide 18: Competitive Learning (Competition Defined) * In business, the river is money * Your competition is anyone earning the money you intend to earn. But it is not just any money. It is the money along your river. * Understanding who your competitors are is understanding who is along your river--who is earning your money. Slide 19: Competitive Learning (Understanding the Competitive Arena) * Geography is the most usual determinate of the competitive area * Depending on the specific attributes of your business, you can further subdivide this arena
Slide 18: Competitive Learning (Understanding the Competitive Arena) * Start by identifying the locations of all your competitors * Then overlay your service area * This will identify your competitors. Slide 19: Competitive Learning (Analyzing Your Competitors) * What are they doing that's right? If it is something you can afford to do--copy it! If not, mimic it as closely as possible Remember, your competitor has tried many things before discovering this--take advantage of their investment * What are they not doing that they should? If it is something you can afford to do--do it! Make sure your ads, brochures, fliers, etc. let the potential customers know you do it. Slide 20: Competitive Learning (Identifying Competitors) * Almost any business can be a competitor * Learning from experience is the best teacher * Being able to observe and learn while, at the same time, trying to run a business can be challenging. * Now is the time to sharpen that skill. Slide 21: Competitive Learning (The Numbers Game) We were each given a sheet of paper with numbers 1-60 jumbled all over it. When we were told to turn our papers over, we were to draw a line from 1 to 60, in consecutive order, working as quickly as possible. We were to call out when we were done. And he talked incessantly (on purpose) as we were concentrating on completing the task. After a time, he called time. I got to 37, and everyone else had finished! Ack. Then he asked if anyone took the time to look over the sheet before they began. No one had. He pointed out that all odd numbers were on the left and all even were on the right, in descending patterns. We laughed. So we then did the game again, with this knowledge. Again, he yakked incessantly. I did miserably and did not finish. (Never really good at these kind of things.) The game was a lesson in how we performed under stress, and how many of us took time to think and observe before we jumped in. Heh. We all completed our critiques of the class and turned them in. And that was the end of the class.
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Dahli
Member
11-27-2000
| Sunday, February 10, 2008 - 2:51 pm
Wow, what a wonderful recap HP! I almost feel like I was there...great stuff.
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Mocha
Member
08-12-2001
| Sunday, February 10, 2008 - 3:00 pm
Wow and ita with Dahli lol.
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Herckleperckle
Member
11-20-2003
| Monday, February 11, 2008 - 1:01 am
Thanks, Dahli and Mocha. Forgot to share the most important things I took away from the class -- two quotes: "The most successful people spend every waking hour dreaming about their idea." Translation: The most successful people are always planning--dreaming up tweaks to their prospective (or existing) business, coming up with ways to add this or change that, etc. And this one: "The business you contemplate has to be something you are bursting to do--so much so that it occupies your mind all the time."
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Herckleperckle
Member
11-20-2003
| Wednesday, March 19, 2008 - 9:47 am
Lots to update here. 1. I took one makeup class last Tuesday and another last night. Both were very good and I'll go into more details about them later. Have one more class, next Tuesday, which is actually the second half of the one I took last night (Writing Your Business Plan). 2. I went for the interview at Fetch yesterday and landed the job! I will begin next Tuesday at 11:00 with an hour and a half of training. Then, on my first visit to a customer, the owner will accompany me and train me there in person. The whew part for me was that the contract did not have a non-compete clause. So I can continue to do my baby steps with my business and perhaps accept some jobs while working for Fetch! I was very impressed with the gal owner, whose mother did a lot of the office work and also handled the boarding end. She was likable, had an adorable dog (who loved me all during the interview), and was very competent. The family actually owns several (different) franchises and are kept quite busy running them all. The owner has a 1-year old son, too. The interview was a breeze. Job pays next to nothing per walk ($9 of the $18 they collect; same percentage for higher paying things like overnights), but I can always accept everything offered. (And still do my thing here, if it works out.) 3. I distributed the 'Survey' that I mentioned upthread earlier (I designed it) in my neighborhood. First time 23 houses--about 4 days ago. Yesterday, about 45 more. Still updating the survey as I go. I expect to distribute the rest with the latest edits tomorrow (after the rain has stopped). Haven't heard a peep from anyone yet, though. (Email, drop-off in my front door, or phonecall was available to all.) So this is going to be a little harder than I thought. Means I have to throw the lasso over a wider area, I suspect. Chugging along here!!
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Mocha
Member
08-12-2001
| Wednesday, March 19, 2008 - 9:52 am
Yay!
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Lumbele
Moderator
07-12-2002
| Wednesday, March 19, 2008 - 10:01 am
Congrats on the job, HP! Don't get discouraged; ppl often don't take time to fill out surveys, but they just might keep this one, just in case they need a pet walker/sitter some day. In the meantime, go throw that net wider. Have you considered putting your survey on your site, so ppl can just go there to answer it? Not sure if I'd bother typing an email, dropping off a survey I didn't ask for or taking the time to call a stranger. But as a pet owner, if all I had to do is hop on your site and answer there, I might do that.
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Hukdonreality
Member
09-29-2003
| Wednesday, March 19, 2008 - 10:09 am
Herck, you're doing great! Can you hang a poster up at all of the veternarian's offices and at pet stores? That's where you'll find all of the pet lovers!
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Herckleperckle
Member
11-20-2003
| Wednesday, March 19, 2008 - 12:59 pm
Thanks Mocha, Lum and Huk! I am happy with my progress, given what preceded it recently. Just back from a dental cleaning, which was the reason for the rather hurried post, above. Lum, that is a simply fantastic idea and I agree with you about using the net directly being a preferred method for responding to something like this. Which means I'd better get busy developing the website more, eh? AND the logo (nudge, nudge, Julieboo!). Huk, I'm not quite ready to push go yet on the business. Have to register my company with the state, get a state license, get the website ready to rip, etc. I'd like my mentor's assurance everything is in place, etc. And remember, I took the job at Fetch so I could find out what works and what doesn't. So the job is actually research plus the happy advantage of pocket change. Now if you just meant the survey, I could do that, and have a collection box for their answers. Perhaps in a vet's office nearby rather than my vet's office, which is a little too far out for most people in my area. I'll try to briefly outline the content of the two courses I mentioned, in case anyone else out there is thinking of turning to SCORE in their location to look for the help they made need in starting a business. But I have my dinner in front of me and I'm hungry! Later! 
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Herckleperckle
Member
11-20-2003
| Wednesday, March 19, 2008 - 4:10 pm
Class 2 with SCORE: Business Start Up Considerations Page 1 (not gonna share ALL the pages, don't freak, mods!) Starting a business: Is hard work--you need to love what you are doing Takes time and money Deciding WHAT business is critical. Is your idea feasible? Is there a market for it? Can you be competitive on price, service and quality? Can you find a niche? What will make your product or service unique? Most Common Mistakes 1. Going into business with little or not experience without first learning anything about it. How to Avoid: Get a job in the business. Learn it inside and out. 2. Failing to keep complete and accurate records. Drifting slowly into trouble without being aware of it. How to Avoid: There are 3 basic bookkeeping Records: Business Check Book, Cash Receipts Ledger, Cash Disbursement Expense Ledger. 3. Plunging in without first testing out ideas on a small scale. How to Avoid: Start on a pilot basis. Make changes-get the bugs out. 4. Under-pricing. How to Avoid: Are your costs less than the competition? 5. Not understanding the time it will take to build a market. How to Avoid: Patience. 6. Underestimating competition. How to Avoid: Is there room for you? 7. Too little capital. How to Avoid: Enough to cover start up costs until profitable. 8. Not allowing for inevitable setbacks and unexpected expenses. How to Avoid: Rainy day fund. Business insurance. 9. Extending credit too rapidly. How to Avoid: Cash on delivery or job completion. 10. Expanding too rapidly. How to Avoid: Put strong effort into making your current business solid and successful. Consider Franchising 1. Experience and training from Franchiser. 2. Federal disclosure (by law, franchiser must furnish names, addresses and phone numbers of current and former owners/franchisers. You should call 5 each of those still in business and those that quit and ask them why--before investing in the franchise.) 3. Talk to other franchises. 4. Requires money up front plus royalties or sales. Bank Loans 1. Business Plan is required. 2. 25-30% seed money from you. 3. Loan secured by collateral (real estate, inventory, equipment, stocks or bonds) 4. Personal finances in very good shape.
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Herckleperckle
Member
11-20-2003
| Wednesday, March 19, 2008 - 4:45 pm
Page 2: Basic Comparisons of Business Structures in Delaware As a reminder, mine will be an LLC.
Business Structures | Proprietorship | Partnership | Corporation | Limited Liability Company | General Description | Single owner; self-employed individual | More than 1 owner | Entity organized by state law. Acts as a single entity while owned by 1 or more entities | Hybrid entity combining limited liability of a corporation while being taxed like a partnerships. One or more members. | Owners | Owner-Proprietor | Partners | Shareholders-which means issuing shares and holding stockholder meetings | Members | Liability of Owners | Unlimited | Unlimited | Generally limited to investment | Generally limited to investment | How Formed | No documents | Not required but Partnership Agreement highly recommended | Certificate of Incorporation | Articles of Organization & Operating Agreement | Estimated Cost to Set Up | Minimal | Minimal | $75 & up | $75 & up | Continuity of Life | Finite. Ceases upon death of owner | Terminates upon changes in partners | Freely transferable | Transferable subject to operating agreement | Ownership Transferability | Assets can be sold but business terminates | Transferable upon partners'approval | Freely transferable if not restricted by agreement | Transferable subject to operating agreement | Legal Precedents | Extensive | Extensive | Extensive | Limited | Tax Forms Required | Owner's 1040 | Owner's 1040 (Additional tax forms required when more than 1 owner) | C-1120 or S-1120S (Certain corporations may elect to be taxed as partnerships--means taking Subchapter S tax election. Sub S entities require additional tax forms | Owners' 1040 (additional tax forms required when more than 1 owner) | Owners' Fringe Benefits | Generally not deductible | Generally not deductible | Deductible subject to limits | Generally not deductible | NOTE: All legal and tax issues should be discussed with clients' CPAs and/or attorneys.
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