Retailers_350_Notes_Apr_09

Retailers_350_Notes_Apr_09 - Retailers Retailing Efforts...

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Retailers
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Retailing Efforts aimed at selling products to final consumers for personal, non-business use Consumers buy ~ $4.1 trillion a year from U.S. retailers Retailers bear risk; must understand derived demand Shopping motivators: economic & emotional
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Economic Motivators Convenience (location, hours, checkout) Product selection (assortment, quality) Special services (delivery, gift wrap) Fairness in dealings (return privileges) Helpful information (clerks, displays) Price (value, credit)
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Emotional Motivators Social image (status, “fitting in”) Atmospherics (comfort, relaxation)
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Classification of Retailers Ownership 1. independent retailers 2. chain stores 3. franchise outlets
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Benefits of Sole Proprietorship 1. No special fillings or rules for operating the business 2. P&L reported on owners personal income taxes 3. No registration required or fees
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Drawbacks of Sole Proprietorships 1. No protection from liability claims 2. Personal assets at risk
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Benefits of LLC 1. Owners have limited personal liability for claims against the business 2. Flexibility to apportion P&L
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Drawbacks of LLC 1. Distribution subject to self-employment taxes 2. VC prefer more traditional corporate structure
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Benefits of S Corporation 1. Personal liability for claims against business is limited 2. P&L reported on owner’s personal income tax statement 3. Salaries subject to income & employment taxes
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Drawbacks of S Corporation 1. P&L can be allocated only in proportion to each shareholder’s ownership interest 2. Some states tax S Corp like C Corp
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Retailers_350_Notes_Apr_09 - Retailers Retailing Efforts...

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