Legends Rising > Businesses Rules > Business Ownership
Business Ownership
Welcome aboard to the world of business ownership in Legends Rising RP! Below, you'll find a comprehensive guide to navigate this exciting aspect of our server.
Business Ownership Overview
Businesses play a vital role in enhancing the immersive experience of Legends Rising Economy. From Stables to Saloons, Gunsmiths to General Stores, our county offers a diverse array of businesses for purchase through our Realty Service. If you're eager to invest your time and effort into owning one of these establishments, you're in the right place!
Business Rules and Roleplay
- Employee Limit: Business owners are limited to having a maximum of 5 employees. This ensures a balanced distribution of business RP across the county and promotes quality employer-employee interactions within establishments.
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Market Stalls: Market stalls are exclusively reserved for ranches. Each individual is permitted to own only one market stall. Regular checks are conducted, and inactive or poorly stocked market stalls may be removed to make room for new opportunities.
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Rancher Restrictions: Ranchers have specific limitations on additional county jobs they can hold. While they can manage a ranch alongside another occupation, certain roles such as saloon, bakery, restaurant, or general store ownership are off-limits. However, other jobs are permissible.
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Group Business Limits: To maintain fairness and competitiveness, there are restrictions on group ownership of specific businesses. Each group can acquire only 1 of our designated businesses. However, no group may hold more than three of these businesses simultaneously.
These guidelines are designed to foster a vibrant and balanced business environment within our community. If you have any questions or need further clarification, feel free to reach out to our team!
Financing Your Dream Business
For those with limited funds, our Business Loan Calculator offers a solution to kickstart your entrepreneurial journey without the need for extensive grinding. Here's what you need to know:
- Down Payment: A minimum of 20% of the Business Sell Price is required upfront as a down payment.
Interest and Repayment: All borrowed funds incur a 10% interest rate, resulting in the Total Owed amount. You'll have six scheduled payments to repay the full amount, calculated as Total Owed divided by 6.
Payment Schedule: Loan payments will be collected from business ledgers on the 1st and 15th of each month. Realtors will facilitate payment collection in person or remove funds directly from your business ledgers.
Risk of Default: Missing a loan payment due to insufficient funds will result in business repossession and all items in the shop. However, the first loan payment will not be due for at least seven days from the date of purchase, providing some initial flexibility.
Ongoing Business Responsibilities
Once you've secured your business, it's essential to fulfill ongoing obligations to maintain ownership and success:
- Taxation: Business owners must pay taxes on the 1st of each month. Failure to do so, along with leaving the storefront's inventory unstocked for 14 days, may result in business repossession.
Management and Creativity: Owners have the freedom to hire staff, advertise with flyers, host events, set prices, and collaborate with County Staff to develop unique products. Regular inventory checks by Realtors ensure compliance with stocking requirements.
Product Selection: Businesses can curate their inventory with regular and specialty items that align with their theme and customer base. Initially, specialty items are allotted, with the option to unlock additional recipes for a nominal fee.
Remember, while creativity and innovation are encouraged, it's essential to maintain a manageable workload and ensure inventory reflects customer demand. This approach fosters sustainable growth and long-term success for your business venture.
PLEASE UNDERSTAND YOU WILL NOT RECEIVE ANY COMPENSATION IF YOUR PROPERTIES DISAPPEAR DUE TO LACK OF MONEY IN THE CORRECT PLACES.
DISCLAIMER!!
If you haven't explored our economy much, the business prices may be surprising. Rest assured, the income opportunities throughout the county have been scaled up, along with these prices. We believe you'll find businesses and homes very attainable after you venture out into the county and explore the various money-making methods. If you have any questions or concerns about the economy, feel free to open a ticket!
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Business ownership