Legal Forms for Gourmet Gift Shops & Gift Basket Companies (Part 1)

Introduction

Gourmet gift shop and gift basket business activity has traditionally been carried on in three forms:

•     the Sole Proprietorship
•     the Partnership and
•     the Corporation

This article is designed to provide you, a new or existing owner of a gourmet shop / gift basket company with a brief, general description of the various forms of gourmet gift business organizations available in Canada and America.  Your business objectives will be the primary influence on the selection of the most appropriate business form for your gourmet gift shop or gift basket business.  However, factors that may influence your decision include:

•     the nature of your of gourmet gift or gift basket business
•     its organization
•     your business location
•     the length of time that your business has been in operation
•     the potential liability of your business
•     the financial requirements of the entity and
•     the tax considerations for it

Although we strongly recommend that you seek the advice of both a lawyer and an accountant in making this important decision, we have summarized some of the most salient points for your decision on what form may be optimal for your gourmet gift shop or gift basket business.

Phyllis and Greg Sprout began their company, epicureanfoods.com, in July 1993.  They specialize in supplying hard-to-find gourmet foods and gift basket supplies to gourmet shops, gift shops and gift basket companies across North America. 

They have helped the founders of literally thousands of gift, gourmet food and gift basket companies start and grow their businesses.  Many of these companies remain excellent customers of epicureanfoods.com today.  They can be reached at phyllisandgreg@epicureanfoods.com.