Company’s Description
Part 1
Company’s Name: Sporting Goods Store
Sporting Goods Store is an upcoming company that will be dealing with sporting products. Sporting has been a significant activity among many young people, but they lack the equipment that will help them to be productive in their sports. Also, everyone needs to ensure that they live a healthy life. Exercise has been recommended to be a significant factor in enhancing human health. However, many people do not have sporting clothes and shoes that they can use when exercising. This company provides a solution to these challenges by delivering sporting products that will enhance exercise and sporting activities.
Legal Form Management and Location
The vision of this company is to become the most magnificent store that offers sporting goods in the world, thus providing solutions for sporting activities. The company will support people in their sporting events and exercises, thus promoting the health status of people in the world. The company will be a partnership by sharing ownership with other people to enhance its effectiveness. Collaboration with sports departments and health care organizations will ensure that the company impacts society to a great extent. The leadership will be structured, which will ensure that everyone in the company knows what they are expected to do, and also the enhancement of quick decisions. The company will be paying business income taxes to the administration. The profits earned in the company will be shared with the partners according to their percentage of share in the company. The company will need outside investors to contribute to financial supplies or the company. However, it is not easy to get investors as they look keenly at the business plan with different perspectives. The flow of cash generated from the company will be circulating in the operating business. The leadership will be located in North Carolina. The administration will involve the chief executive officer, who is the owner, operating officers (security, information, and financial officer), senior director, assistant director, manager, associate manager, and employees.
Part 2
Because the company is young, it is in its initial stage of development. The company is expected to make low sales in the launching phase, where the risks will be higher. The company will not be able to finance debts following the unstable business model and the inability to repay debts. The ability to finance liabilities will be enhanced when the sales will begin to rise. The company is in the stage where it cannot be able to generate any revenue because of the low level of sales. The development stage of a company is where there is an increased level of failure (Florén et al., 2017). The company expects to gain assistance from investors who are willing to finance the business; however, getting investors is difficult as the risk involved at this stage is higher. The financial needs required by the company are more compared to the lower returns in this stage.
Part 3
The company will be dealing with sports products. Gaming equipment that will be offered includes bases and wickets, clubs, bats and sticks, tackle and rods, racquets, nets, goal posts, flying discs, and balls. Also, player equipment such as protective equipment and footwear will be offered. Licensing involves obtaining permission to run the business through another company’s license (Schlegelmilch & Simbrunner, 2019). The permit will be obtained from the government through another company that offers the same products. Sports Products of America LLC will be a significant company to consider for obtaining a license for the company. The patent will be achieved through the administration to prevent and protect the company against being copied by competitors.
Reference
Florén, H., Frishammar, J., Parida, V., & Wincent, J. (2017). Critical success factors in early new product development: a review and a conceptual model. International Entrepreneurship and Management Journal, 14(2), 411-427. doi: 10.1007/s11365-017-0458-3
Schlegelmilch, B., & Simbrunner, P. (2019). Moral licensing and moral cleansing applied to company-NGO collaborations in an online context. Journal of Business Research, 95, 544-552. doi: 10.1016/j.jbusres.2018.07.040