Business Organizations
Donny Woods, Jamaica Johnson and Gerald Smith met while working at Applebee’s and attending college in Tampa. Donny and Jamaica attended South University to study business, while Gerald attended the Art Institute for culinary management. The three friends were tired of working for someone else and planned to open their own restaurant and bar in a growing area of Tampa.
Analyze three types of business organizations Woods, Johnson and Smith might consider for starting their new restaurant. Be sure to consider at least one limited liability option. Explain the advantages and disadvantages of each type.
Select one type of business for Woods, Johnson and Smith and provide support for your choice. Based on your selection for the business type, create a name for the business. Replace [Restaurant Name] found in future scenarios with the name you selected for your restaurant.