CASE STUDY Ownership Essay

Submitted By ShaziaNathiejpc22157

Words: 515

Pages: 3

Open Document

CASE STUDY
Scott Hamilton - Signwriter

Scott Hamilton is a sole trader. After leaving art college in 1996, he worked for a signwriting company and gradually built up his skills and speed. In 1999 Scott felt he had developed his abilities and understanding to the stage where he could start his own signwriting business. So he did a business course at college and learnt about the problems and pitfalls of setting up his own business.

His first task was to find out, by producing a business plan, whether it was worth setting up at all. The business plan covered costs and receipts. Costs included paint, labour, heating and lighting, materials, telephone, running a vehicle, and advertising. Receipts were based on the hours worked in a week, and the hourly rate he could charge.

Scott decided to operate from home using his garage for carpentry and artwork. This reduced his overhead costs considerably.

Businesses need time to get established, and Scott calculated that at first he would only be working for 5 – 10 chargeable hours a week. By the end of the first year, he estimated that this would rise to 25 hours.

Taking into account the costs of his materials, he calculated that if he charged $35 an hour, he could make a reasonable return.
This means that his revenue would more than cover his costs, leaving room for profit.

Questions

1. Do you think that being a sole trader is a suitable type of business for Scott?
I think being a sole trader is a good choice for Scott. He had already experienced working for someone and now that he has decided to become a sole trader and taken a business course I think he will be successful.

2. What would be the main advantages and disadvantages to Scott for being a sole trader?
Full income
No employee wages
Doesn’t have to rely on others
Works on own terms

Disadvantages:
Has to take full responsibility for everything
Cannot rely on others to help,

Business Law Essay

cost of ownership is an analysis that meant to find out the costs which may not be readily apparent. TCO helps to illuminate the benefits of an acquisition to avoid negative consequences in the running of a business. The benefits of carrying out this study help to reveal the costs involved in acquirement, upkeep and operations. It helps to conduct an evaluation to find better and improved competing solutions and shun the hidden costs and the unexpected surprises. The total cost of ownership evaluates…

Words 868 - Pages 4

Case Study: Peaceful Rest Motor Lodge

in this phase of great bargaining competition and forcefulness (Brennan, 2008). So, in view of this, this paper will analyze the given case study, Case_1_Peaceful_Rest_Motor_Lodge. It will also consider major issues in the given case study, important stake holders, open alternatives and germane consequences together with their risks and benefits. Case study Analysis…

Words 869 - Pages 4

Reducing Crime: Gun Control Isn’t the Answer Essay

you is that the people have the right to keep and bear arms and that right shall not be infringed upon. In the 2008 case, D.C. v. Heller, the Supreme Court acknowledged that the Second Amendment protects an individual right to arms. This was the first time that the Second Amendment was used to claim that the Second Amendment means exactly what it says. About two years after that case, June 2010, the Supreme Court enforced the right against state interference. Claiming that the original meaning of…

Words 2806 - Pages 12

Essay on Introduction To Financial Management

Define the terms finance and financial management, and identify the major sub-areas of finance. Finance is the study of applying specific value to things individuals own to include services used and decisions determined [Finance by Cornett, M. M., Adair, T. A., & Nofsinger J. (2014). M: Finance (2nd ed.)]. In simple words, finance is how much value is attributable to goods and services and the basis of such attribution. Financial management may be defined as the management of the finances of a…

Words 1136 - Pages 5

PHIL 215 2012 11 08 Professor Brian Orend Essay

very well done, esp. Case Study One more thing to go: Final Exam worth 55%. Take home; 1 week; Prof Orend grades it; noncumulative with exception of Case Study Method. Office Hours: Every Monday. HH 327. 3:45pm 5:15pm EMail: bdorend@uwaterloo.ca (e.g. for soft copy of Question Sheet) 2 I.P. Issues: 1. OxyContin (opiate, extremely addictive) patent expiring as we speak... 2. What of new tech, invented by employee, on company time / resources: who gets ownership? Standard pra…

Words 424 - Pages 2

Why Is Gun Control Important

This study found that 24% of attempts occur within 5 minutes of making a decision and a further 70% occur within an hour. Gun controls that put a several week delay in obtaining a firearm provide plenty of time for the affected person to rethink their actions. Evidence in the study also showed that US states with high gun ownership have three times as many firearm suicides with no increase in the occurrence of non-firearm…

Words 1506 - Pages 7

Essay about Tougher Gun Control Laws

Do We Need Tougher Gun Control Laws? One of the most controversial issues in our society today is the topic of private gun ownership and gun control laws. This controversy has arisen mostly due to the different ways that the second constitutional amendment is interpreted. The amendment states that "a well regulated militia, being necessary to the security of a free state, the right to the people to keep and bear arms, shall not be infringed" (Lott, 2000). On one side of the issue, there are those…

Words 1940 - Pages 8

Hospitals that Treat just for a Buck Essay

different types of ownership there can be for health institutions. Although, there isn’t a lot of information on the differences between non-profit and for-profit hospitals, most of the research I have found and conducted leads me to believe a hospital that isn’t all about a dollar has better medical practices and as a patient the benefits may be greater. Some specific reasons for this conclusion include an interview I conducted of a former employee from both types of hospitals and studies that show higher…

Words 3669 - Pages 15

Essay on buiness succes

Study Notes for 2014 Preliminary Exam. The following is a suggested study program for students sitting the 2014 Preliminary Business Studies exam. The Nature of Business Focus on business structures and the advantages of each legal structure (such as sole trader, private company etc). Look at influences on choosing a legal structure such as the size of the business, the need for initial capital etc. Also look at business goals – what are they – distinguish between the internal and…

Words 923 - Pages 4

Management and Local Charity / Volunteering Organisation Essay

(Barcode) Assessors: (Barcode) Assignment nos: (Barcode) Assignment Title / number Introduction to the nature of business and ownership/1.1 Date Set: 10/9/13 Deadline Date: Stamp(s)‘received’ 9/10/13 Student Name & S number: IV signature & date for brief: Learning Outcomes: 1.Understand the purpose and ownership of business Unit 1 Criteria covered in this assignment: P1, P2, M1 Criteria met: Assessor Signed: Date: (if 2nd submission…

Words 527 - Pages 3