Teleport Is a Collapsible Telescope

Teleport

Teleport is a collapsible telescope that my venture will design, make, and sell. The legal form best fit for this business is a partnership. Because my father and I will own the business, a partnership will allow both of us to own the business and share the assets and liabilities according to the written agreement. A negative aspect of a partnership would be the fact that each partner is held liable for the other. Another negative aspect of a partnership is that there is no liability protection for the partners.

This business would be started from scratch, but would also be a family business because my father and I would own it, and we would pass down the business to following generations. A collapsible telescope is a product that has not been introduced to the telescope market and our prototype is that of which has not been seen. I believe that with our product we will be able to use the differentiation strategy because we will be one of the first, if not the first, to step foot onto this market. This strategy can also be difficult though because we will have to blaze the trail of this market that other businesses will soon attempt to imitate. The fact that this will be a family business will also be beneficial because one can always depend on family to be there for each other.

With correct and careful planning this business can become a huge success. If we carefully plan with suppliers, sellers, customers, and other important aspects of the business, we can set a reasonable price point for our customers that will provide them with a great product and price, and provide the business with a sufficient amount of profit. Beginning with the local market, our business will have the potential to gain popularity and spread to other parts of the country and potentially the world. We hope to start a new segment to the telescope industry and encourage more people to utilize telescopes for enjoyment and learning because of the mobility of our Teleport.

The Commuter

The Commuter is a bicycle with a lawn mower engine attached to it to provide power and save the rider energy and sweat. A partnership would be a great legal form for the Commuter. This is a business my good friend and I are interested in pursuing, so by having a partnership we are able to share ownership of the company and make decisions together. Taxes are at the individual level, therefore making it lower than other legal forms of business. One major negative aspect of a partnership is that each partner is liable for the other. We do not expect to grow more than the college city of Denton, so liability protection of a relatively small business is not much of a concern.

This business will be started from scratch and will require mostly physical time from its owners. The lawn mower engine will have to be taken from a lawn mower, clean and fixed if needed, and properly assembled to the bicycle. Lawn mower engines are relatively cheap, and bicycles can be purchased according to a customer’s taste. This should help keep costs relatively low because my partner and I will be the ones putting in labor, and the components should be relatively cheap. The largest cost would be the bicycles, but if bought in bulk, we could lower the price for each bicycle.