Ownership & Structure
The Dollar Store is a privately held corporation. It will be registered as a Subchapter S, with ownership Ted Brinkman (60%), Jim Spencer (40%).
The Dollar Store will be incorporated as an LLC corporation. This will shield the owners from issues of personal liability and double taxation. The investors will be treated as shareholders and therefore will not be liable for more than their personal investments. The majority owner Ted Brinkman will contribute from his personal savings toward this business venture. With an aggressive marketing plan, The Dollar Store expects to experience steady growth as it becomes more familiar to the general public.
The owners of the Dollar Store believe very strongly that relationships should be forthright, work should be structured with enough room for creativity, and pay should be fair and equitable in relation to what the industry is paying. With the right people in place, the Dollar Store will have the incentives to encourage quality people to stay.
Ted Brinkman and Jim Spencer worked together as managers of a group of large regional retail operations (name omitted) before starting the Dollar Store. Over the past 10 years, under their direction, the organization became the largest and most well-known in their area. The owners of the company were looking to sell the company to a national organization and it was at that point that Jim and Ted decided to branch out on their own. Both bring extensive retail marketing and finance knowledge to the company. They have the knowledge, experience, and contacts to make the company a success.
|Owner / Manager||$36,000||$36,720||$37,454|