Colorado Technical University Online
The business I have chosen to create is a C-Corporation merchandising company. My company will be doing business as (DBA) Twisted Collections. We will be selling special collector’s toys that are in the same league as Sideshow Collectables and Enterbay. The items consist of collectable figures, busts, and dolls (for display only). The price of these items can range from $300 - $5,000 depending on the scale and item. Considering that there are only a few other companies in the world that will be at the same level of competition, I will be able to franchise easily and quickly. These items are well known for their realistic and life-like remakes of popular movies, TV shows, and sci-fi and comic characters. I will be able to display my items at events, such as the world famous comic con. This will boost sales and spread the word of a new contender in the collections world. I will be discussing my capital structure that best fits my corporation, my employees and payroll accounts, and my tangible plant assets. I will also be giving insight on the ethics and internal controls that will be playing a part of my business. Remembering that this whole assignment is a hypothetical scenario, it allows me to be very imaginative and go far beyond what my current circumstances would permit.
I had three options when contemplating which type of business to open. I could have chosen a C-Corporation, an S-Corporation, or a Limited Liability Corporation (LLC). I had to research all three of my options very carefully before making a decision. After thorough investigation of the inner workings of these corporations, I chose the C-Corporation. I feel that this will be the best fit for the business plan I have in mind for this assignment. So that my readers can see how I came up with this decision, here are some facts about each corporation that I discovered. This research is what helped me pick the best suited...