The legal environment covering most wide array of subjects and specialization

The legal environment covering most wide array of subjects and specialization

The Legal Environment

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Please respond to the following:




•Select a small business with which you are familiar and discuss the most likely forms of business law it would need to be concerned about. Provide specific examples to support your response.

•Referring to the same company, discuss the most likely government regulations that would directly impact day-to-day operations. Provide specific examples to support your response


LaRoy Williams Attachment

Date: Thursday, June 7, 2012 10:24:45 AM EDT
Subject: Week 10 Discussion 2

The Legal Environment
Please respond to the following:

Develop an idea for a new business and conduct a feasibility analysis. Please be as creative as you like in the development of your idea (but as careful as you can be in your analysis of that idea).

An idea I have for a new business is a mobile bakery.  Here in the DC metropolitan area are several mobile food trucks but I have yet to see a mobile bakery near these other vendors during the morning and lunchtime hours.  Most people like to have some dessert to go along with their breakfast or lunch.

In conducting a feasibility analysis, I first have to survey the food industry and see if there are any types of mobile bakery businesses in the market.  Second, I must determine how attractive this idea would be to the public and the food industry and what resources are available to provide the service.  Create a prototype to utilize at special events to get a survey from the public of the service.  Third, determine what capital resources would be required to operate such a business, how profitable the business would be (earnings, return on investment, etc.).

Analyze the steps involved in crafting a wining business plan and make at least one recommendation for improving the process. Explain your rationale for making the recommendation you did.

The process and steps involved in creating a business plan is lengthy and tedious.  My recommendation for improving the process is to utilize a template and seek guidance, training and assistance from the Small Business Administration (SBA) and your local Procurement Technical Assistance Center (PTAC), both offer assistance in creating a well develop business plan.  There are companies in the business industry that would prepare a business plan for you but at an extremely high cost.  For the most part, practically all services provided by the federal government (SBA, PTAC, SCORE) are free.



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