The nature of a business normally influences the manner in which it is run and the decisions that can be made. This case study indicates that Megan runs a chain of restaurant business and the decisions she has to make for the success of her venture will influence the suitable choice of business she has to form to effectively cater for her needs. In addition, taking the appropriate initiatives or protections helps Megan to shield herself from possible competition emerging from employees who stop working for her.
Appropriate form of business
Megan should form a Limited Liability Company (LLC) for her business. An LLC allows her to form the company alone or with any of her friends who wish to extend support. Megan can form the limited company with Tom because of his experience in the restaurant business. As such, Megan will not only benefit from the Tom’s financial business but also his expertise. Rashida could also be included in the business as a member because his financial contribution will assist in creating a solid base for Megan’s restaurants. The formation of a limited liability company is appropriate for Megan as the liabilities of this type of business is limited to the owner’s stake in the company (Duchac et al., 540). In this regard, Megan cannot suffer personal obligations because of the poor cash flow recorded in her
Megan will need to trademark the name of her company as it is often tied with the ideas implemented in her business (Sutherland 22). Moreover, establishing a trademark for her restaurant chain will provide Megan protection in the event that a legal issue arises from her former employees or any emergent competing business. The documentation that Megan will obtain in registering the business as a trademark can be used as written proof that the idea was in operation should a dispute arise with any of her former
Stephen Boos has worked in the food service industry for over 30 years. He started as a bus person and subsequently trained as a chef’s apprentice. Steve’s mother believed that a college education was something that everyone should receive. She felt that a college degree was a good investment in Steve’s future. In 1976 at his mother’s insistence, Boos moved to Northeastern Ohio to attend Kent State University where he earned a bachelor’s degree in business administration. After graduation, Steve began working for East Park Restaurant as a line cook. Using his education as a foundation, Steve made a point to learn everything he could about running a restaurant, from cutting meat to the bi-weekly food and beverage orders. His versatility, keen business sense, and ability to control costs resulted in Steve’s promotion to General Manager, as role he has held since 1995.
The Panera Bread Company began in 1981 as Au Bon Pain Co., Inc. Founded by Ron Shaich and Louis Kane, the company thrived along the east coast of the United States and internationally throughout the 1980’s and 1990’s and became the dominant operator within the bakery-café category. In the early 1990’s, Saint Louis Bread company, a chain of 20 bakery-cafes were acquired by the Au Bon Pain Co. Following this purchase, the company redesigned the newly acquired company and increased unit volumes by 75%. This new concept was named Panera Bread. Top management chose to sell their previous bakery-café known as Au Bon Pain Co. due to the financial and managerial needs of Panera. In order for Panera to become the success top management visualized all resources needed to become available for Panera. Panera Bread is now the most successful bakery-café in the category in which there are currently 1,777 bakery-cafes in 45 states and in Ontario Canada (Panera Bread).
In the third chapter, “Attack by Stratagem,” businesses learned that the source of strength is not the size of the business, but unity, along with the five fundamental factors. In American busine...
Being the owner of LSU, Joe probably operates as a sole proprietor. It is recommended that the business change its entity selection to limited liability company (LLC). The main advantages to an LLC are the protection the LLC owners receive from business creditors, and the fact that the owners can still participate in the management of the business.
The restaurant business is a challenging industry and if a company has a strategy that works for them as well as their employees, it should stay the course and tweak as needed.
The case of Burger King Corporation v. Rudzewicz, 471 U.S. 462, 105 S. Ct. 2174, 85 L. Ed. 2d 528 (1985) addressed the issue of personal jurisdiction and whether or not it violates the Due Process Clause of the Fourteenth Amendment. The plaintiff, Burger King, is a Florida corporation whose principal offices are located in Miami. The defendant, John Rudzewicz, was a resident of Michigan and a principal of a Michigan franchise. Rudzewicz, as a franchisee owner, had been given a license to use Burger King’s name and logo (trademarks) to operate a Burger King in Michigan. The contract between the franchisor and franchisee stated that the franchisor relationship (contract) is under the control of Florida. Other provisions of the contract include required monthly payments of fees and royalties to Miami headquarters, and all major decisions and problems had to be communicated with headquarters. In addition, the franchisee had to conduct business at a leased restaurant facility for 20 years. However, the defendant failed to fulfill franchisee obligations by not keeping up with his monthly payments of fees and royalties that he owed to Burger King in Florida. As a result, Burger King sued for a diversity suit against Rudzewicz in an effort to get back the money that they were owed. Burger King claimed a breach of contract, specifically the “Franchise Agreement”, between Burger King (the franchisor) and Rudzewicz (the franchisee). The case eventually made it all the way to the United States Supreme Court (Case Briefs).
Fast food chains, the main problem responsible for multiple health problems around the world has still not changed any of their ingredients or additives to make a positive change. Fast food meals have been linked to multiple health problems. Such health problems like heart diseases, which is the leading cause of death of men and woman in the United States. Fast food has also been linked to obesity, due to the high amount of fat and carbohydrates found in their meals. An equivalent aspect is the additives added to fast food like trans-fat and sodium, which are both linked to leading to multiple health problems. Yet fast food chains have not done anything in regards to all of this health problems. Fast food chains are still harming the public
McDonald's Corporation is the largest fast-food operator in the World and was originally formed in 1955 after Ray Kroc pitched the idea of opening up several restaurants based on the original owned by Dick and Mac McDonald. McDonald's went public in 1965 and introduced its flagship product, the Big Mac, in 1968. Today, McDonald's operates more than 30,000 restaurants in over 100 countries and have one of the world's most widely known brand names. McDonald's sales hit $57 billion company-wide and over $25 billion in the United States in 2006 (S&P).
Over the years, many companies such as scrabble, Tylenol, Channel, Louis Vuitton and even Polo Ralph Lauren (PRL) Corporation have had to fight to protect their intellectual property. By looking more specifically into Polo Ralph Lauren, a fashion company that offers a range of products from clothing to home furnishings, this paper will explore trademark laws and how these laws could be advantageous one hand and limit one group and limit business abilities on another.
McDonald’s USA has been feeding the American society since 1940. Recently, the company has had various issues with people posting on social media as well as questioning the restaurant’s food. Millennials created controversy about what McDonald’s was serving its customers and this showed itself in ongoing negativity between social media, blogs, and news sites. This caused an extreme decrease in the restaurants sales. The tactic proposed was to become more transparent with the public, but the focused audience was “curious skeptic” millennials.
Not having to answer to a corporate boss is the dream of many and the flexibility that owning a business franchise creates provides this option. Success is not reached by simply creating a business, however. The level of success is measured by the size and efficiency of the business. Business growth is the driving force of the economy. The additional jobs and revenues created when a business expands allow the economy to grow at exponential rates. One of the fastest and most popular ways to increase the size of a business is to turn it into a franchise, which can then be purchased by individuals. Franchising provides opportunities that are beneficial to both the parent company and the purchaser. The company that owns the business can expand without having to pay such a large initial cost to open a new store since the franchise purchaser pays a cost to open the business. As well, the company can regulate many of the business activities so that there is a sense of consistency throughout all of the locations. The purchaser is allowed to use the trademarks and goods of the franchise which already have a large market presence. As well, they are provided with training and work standards by the company to help their business run smoothly (Kalnins & Lafontaine, 2004, p.761). Looking at the business model of the world’s largest food retailer, McDonald’s, provides great insight into franchising and business growth in general as well a better understanding of a global business that utilizes the franchising technique.
McDonald’s has been one of the biggest fast food chain corporations that has worldwide share in the food market. The company’s appeals were fast service, menu varieties, and affordability, which capture majority of customers’ psychological needs. Furthermore, McDonald successfully builds a relationship with consumer by promoting donation campaigns and vitally involving in societal activities. In recent years, McDonald’s sales decline is affected by food scandals causing public mistrust of its food ingredients, which deviates consumers from fast, cheap and convenient food.
Competition Among Fast Food Chains MARKETING INFORMATION NEEDED FOR THE FAST FOOD INDUSTRY. To begin with, for the fast food industry around the world, the leading fast food chains marketing information is wrapped around convenience location, changing preferences, quality of food, pricing of fast food, potential customers, age of the customers, menu selection and diversification and last of all superior service. From a marketing perspective, location for the fast food service to the potential customers is most important, according to Maritz Marketing Research. A recent study showed the location has to be convenient. The analysis said that adults under the age of 65 prefer a convenient location for their fast food.
Running a restaurant can be one of the most stressful jobs as well as the most fun and rewarding jobs. If the manager is a good leader with excellent leadership skills and has great followers the restaurant will be rewarded. If not the restaurant will plummet in sales and no one will be pleased. While developing a business. staff is important to running a successful restaurant, it is also essential that management focus on its public relations as well as its sales and marketing strategies.
The first step in any business is to think of or create a business idea. Without an idea, one cannot launch their business off the ground. A right direction is needed to create a business with a unique idea. However, other options include franchising or buying an existing business (1). Franchising allows an individual to run stores such as Burger King or McDonalds under the corporate name. It involves taking training classes and a heap of money in order to start a franchise. A Franchisee will have to buy products and services from the corporate entity they are franchising from, which is often required. Buying a franchise is like taking a piece of the pie from the company that is franchising and sharing that pie with everybody else. In addition having a franchise allows one to communicate and in essence become a big part of an added business opportunity (4). Franchising is far from easy to start and maintain for that matter. Starting a franchise involves a l...