PODS: The Evolution of a Small Business
Small businesses are very important to the United State economy because 65 percent of new jobs over the past 17 years come from small business (Unites States). Everyone wants to own his or her own business, but having a good idea to start a business is not easy task; however, Peter Warhurst is one of the most successful entrepreneurs who dared to start his business with his three partners: Roy Courtney, David Revelia and Bill Ash. They were once firefighters who originated the idea of storing people’s property in mobile storage containers which could hold property when something happened to people’s houses. The company began in Clearwater, Florida, in 1997 with the name PODS, which stands for Portable on Demand Storage. PODS offered on-site mobile storage or picked up property and stored it in its warehouse (Portable on demand storage). PODS began with 346 containers; in 2004, after six year start business, PODS has over 22,000 storage units, expanded to 3,200 cities nationwide (Hundley). Starting an enterprise is not easy, the entrepreneur needs to know the advantages and disadvantages each of the forms of business ownership, some of questions to evaluate his capacity to run the business, and the business life cycle. Choosing a form of business is very important for an entrepreneur because the choice can make an extremely large difference in long-term success. “The form is fundamental to the way the business operates; how it is taxed; what liability its owners have; how expenses, compensation and benefits are treated; and the problems that the business owner may encounter” (Forms of Business Organization 4) Business in the Unites States can be organized in one of three basic legal forms: sole proprietorship, partnership, and corporation; each one has its own advantages and disadvantage which help owners understand the unique problems facing in his business prospects. First, sole proprietorship is a business owned by one...
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