Computer Rental as a Solo Business
Many people who are not really meant to be employees. People who cannot stand an eight-to-five job with lots of office restrictions. If you were one of those who feel that you cannot be an employee ever, then putting up a business such as a computer rental shop would be best for you.
Experts say that putting up a computer rental business is the best way to go especially to those who are contented with their minimum wage jobs. Today, more and more are jumping into business because they see the advantages of it compared to being with a certain workforce management.
For starters, experts say that the best scheme would still be the oldest form of earning money—sole proprietorship. This type of ownership is best for starters because it is easy to maintain and there would no one else that is accountable except the owner him or herself.
Advantages and disadvantages
It is worth mentioning that the largest businesses today have kicked off as small business and single-owned ones. When you say sole proprietorship, this business is owned and operated by one person only. Most of the time, the owner him or herself takes claim of the day-to-day routines of running the business. A single ownership business operator usually has full ownership of all the assets of the business and the revenue generated by it. The business owners are also the ones who take full responsibility for any of its liabilities or debts. In short, the owner him or herself is the representative of the business, no one else.
If you are one of those who are seriously considering jumping into the bandwagon of proprietary ventures, it is a must that you understand the advantages and disadvantages of running a solely-manned business. Just like in any forms and types of business, there would always be advantage and disadvantages in this type of ownership. Since you represent your own business, there will be no win-win situation. The best thing that can be done about this is to sort out the advantages and disadvantages, weigh them and then decide if it really is for your computer rental business.
The noted advantages of computer rental business if solely-owned is that:
- there is lesser cost when applying for permits since;
- the owner/s have complete control over the administration and management of the business—and as long as he or she is within the boundaries of the law;
- the owner can come up with decisions if he or she thinks that this is the best for the company without having to ask for permission from his or her subordinates;
- the business owner/s can receive all the income of their business;
- there is no needs to discuss further actions on the income to anybody; and
- he or she has the power to keep or dissolve the business.
The disadvantages of a sole proprietorship when it comes to computer rentals would lie on:
- the limitless authority and control that single business owners have over the business;
- personal accountability sometimes causes them to dig in to their personal funds for business use; and
- the owner/s may have a hard time getting topnotch employees because there are so many computer rental owners who offer more attractive compensation and benefits to their employees.