The following paper describes what the name of my business is, what type of business
structure it is, why I chose this structure, what type of services or products does my business
provide, what role accounting will play in the start up of my business, what work characteristics that
I will look for in hiring my staff, what education a person should have in budgeting, internal
controls, and cash management, what kind of internal controls I will put in place for my business,
and how will my managers use the financial information to predict outcomes for my business.
The name of my business is The Watertower Café. The Watertower is an extraordinary little
café in the heart of the business district in downtown Hollywood, MD. The Watertower Café will be
open from 7:30 a.m. until 3:30 p.m. providing the business community an affordable, healthy,
nutritious, and delicious alternative to fast food and brown bag lunching. In an effort to add to the
economic base in the community, The Watertower Café will feature fresh locally grown produce.
By using fresh locally grown produce the Café supports friends and neighbors in the community.
The Watertower Café will have an in-house bakery featuring fresh baked breads, cookies, pastries,
and more. For the overly dedicated professional who works too much that they forget to eat
breakfast, the Café will offer freshly brewed gourmet coffees, fruit juices, bakery goods, fresh fruit,
hot and cold cereals, and healthy breakfast burritos. Lunch is the meal not miss! The Café will offer
savory soups, gourmet salads, mountainous sandwiches, and unbelievable desserts at an affordable
price. The Café will be environmentally friendly with a relaxing atmosphere catering to the
professionals working in the business district of Hollywood, MD. However, for those dedicated
souls not willing to leave the desk, The Watertower Café will deliver.
The Watertower Café will use a sole proprietorship as its business structure. After careful
review, weighing the pros and cons with a licensed tax professional the decision to use a sole
proprietorship is the most practical approach for this business entity. A sole proprietorship makes