Davis & Davis 24/7 Childcare (Essay Sample)
Complete a 4 to 5 page paper on starting a daycare business. Use attached paper to assist in completing sections below:
1st Introductory paragraph
2nd explain what type of business and what it does.
3rd what kind of business entity and why it was chosen (LLC and limited liability)
4th what different contracts the company may have to enter into (voidable, 3rd party, etc)
5th Explain property rights, what kind of property issue may encounter( ie.. land, leasing vice buying, multiple ownership)
6th Explain or address personal property (officer furniture, intellectual property, patents, copyrights, trademarks trade secrets, abandon)
reference: law for business, j.d. ashcroft, k.m. ashcroft, m.a patterson 18E, cengage advantage books
Davis & Davis 24/7 Childcare
Davis 24/7 is a childcare home that offers safe and affordable day childcare to children of 16 years on a 24-hour basis. The organization provides support to parents and families who work on a full-time basis and is determined to develop an environment where care is provided away from home (Kemp, & Dwyer, 2011). The organization in its initiatives to provide efficient support to this families and workers has collaborated with The School Liaison Program with the functions of helping children transition from the daycare to the pre-school program. Special needs children are also incorporated into the programs of DCC with the aim of promoting care to the diverse needs of families. The purpose of this paper is therefore in developing a startup business for a day care facility.
The Business and its Products and Services
Davis 24/Seven 360 primary focus is in providing child care services that target the families falling under the category of single parents, double income professional families, and military shift working professionals who are committed to work and education functions and do not have the time to care for children on a 24 hour basis (Hamilton,Â RobertÂ &Â Jonathan, 2003). The organization creates a home for children who are required to stay at the facility for 25 hours in a week through enrollments that are given to children to help them develop different skills and techniques.
The company focuses its products to the low, middle, middle to upper class and the professional income families who due to the nature of work and education may not have the time to raise their children (Kemp, & Dwyer, 2011). The organization enrolls children from the ages of 6 weeks to 18 who are placed under a program that aims at providing care and enhancing their cognitive, motor among other skills. The company also employs the services of medical professionals who operate in a sick bay and provide healthcare services to children who experience instances of diarrhea or vomiting, mild cases of ringworms, and fever. Two registered and professional nurses including a single doctor on call are part of the staffs employed by the company to attend to the health needs of these children.
The Kind of Business Entity and Rationale for Choice
Davis & Davis 24/7 Childcare due to the nature of its functions and structure is a limited liability company. The company is formed out of a partnership that involves four shareholders through a special written agreement. In the agreement of a Limited Liability Corporation (LLC), there includes the provision for management, the ability of the company to assign interests and lastly its agreements on the distribution of profits and losses (Hamilton,Â RobertÂ &Â Jonathan, 2003). The limited liability act, therefore, gives DCC the privileges of venturing into the childcare business through an agreement that smoothly establishes flexibility into carrying the company's functions. Through this, the company remains entitled to a flexible approach that cuts out other formalities such as Board of Directors meetings that are imposed on a corporation. The main limited liability corporation also proved essential into guiding the functions of DCC since its development required minimum paperwork and relative low costs in starting.
The owners of DCC under the limited liability corporation enjoy the benefits of exemption from taxes as a separate business, with all the profits and losses broken down to the company for each and every member of the company (Hamilton,Â RobertÂ &Â Jonathan, 2003). The members of the company are obligated to report the organizations profits and losses of their personal federal tax returns as owners of a partn...
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