Entrepreneur p. 1 The purpose of this paper is to conduct an interview of a business owner to conduct a critical

analysis of the business. On Sunday, 2013, I will interview X about her experience with business

ownership in the cosmetology industry.

Interview Question 1. What are the products and services offered at your local business?
A.: X offers a wide variety of retail hair products and they cater to both male and female needs. Interview Question 2. What made you decided to open a salon? How did you move forward?
Having been a beautician in salons owned by other people for 3 years, independence sounded like a luxury. Witnessing other salon owners’ conduct their business in a less favorable manner made her want to run her own salon so she could build her own reputation. She purchased a salon that was already established, changed the name to X and hired a few additional employees. The salon had employees working at the location already.
Mrs.X’s desire for independence reflects the “Need to Achieve” (Boone, 2012, p. 195) characteristic of an entrepreneur. Entrepreneurs want to excel, they enjoy the challenge of reaching difficult goals and are dedicated to personal success (Boone, 2012, p. 195).
Interview Question 3. Is the business operated as a sole proprietorship, a partnership or a corporation? What are the particular advantages and disadvantages of the form(s) experienced?
A.: The business, X, began as a partnership, but later it was mutually agreed upon to incorporate the business after seeking financial advisement. After 21 years of running the hair

Entrepreneur p. 2 salon as a corporation, the desire for independence set in for each business owner, and further transition allows Mrs. X to operate as a sole proprietor today.
Operating a business as a partnership allows for financial capabilities to be greater and