Corporation Officers Creation

Feature Suggestions
1

We should have the ability to create a corporation, in the game for example: We are the President, Hire a VP, CFO, CMO, and CTO. These officers would keep the company running smooth and would reduce president tasks. Keep the president updated with the Company events.

President/CEO -

Would be the Main Character of the Game, they would be able to hire or fire or promote the officers. The president would be in charge to oversee the whole Company and have the final decisions. Delegate their duties to the VP.

VP - Vice President -

They would be able to take over some of the president’s task and decision-making issues. Take trips to other locations to scout and represent the company on Merging or Takeover events. Lead, guide, direct, and evaluate the work of other executive leaders

CFO- Chief Financial Officer-

The CFO would optimize the financial performance of a company, including its reporting, liquidity, and return on investment. The CFO would make sure to report back to the president financial information events. Like a report on what’s losing or gaining the company money.

CMO- Chief Marketing Officer

A chief Marketing officer is a corporate executive who is tasked with overseeing the marketing activities.

CTO-Chief Technology Officer-

Executive who brings deep technical knowledge and business expertise to keep an organization ahead of the curve. CTOs deal with and cater to external parties: customers/users, investors, and technical vendors. they would be in charge of the Servers Rooms, Technical Managers and R/D department. They would oversee the Technology Managers.

Have a weekly meeting in a Board Room at HQ Office, where the player would be able to click on the Officer and all their reports would pop up. You as the president can make adjustments, if need be.

:boom: :boom: :boom: :boom:

1 Like
2

I like the idea of having a Corp, LLC, Co, or LTD…
But not officers at this time as it would cost too much and bring down the income.

3

I agree you should be able to create a corporate entity where you can delegate work to Executive Officers. Individuals should still be able to privately own 1 or 2 small stores/offices before they would want to form a corporation.

Maybe they could also add operating firm managers and specific stations for them. The player might even have to assign themselves to these stations working as store manager to earn a salary/save money until their store is earning a good income or until they hire a store manager.

Potential Operating Firm Managers: Retail Store Managers, Professional Service Firm Partners (Law, etc.), Warehouse Managers, etc. (Potential Furniture: Store/Warehouse Manager Workstation, Firm Partners Workstation)

Retail/Warehouse Manager:

  • Small Store/Warehouse ~$50,000-$60,000/year (~$24-$29/Hour),

  • Medium Store/Warehouse ~$60,000-$70,000/year (~$29-$34/Hour),

  • Large Store/Warehouse ~$70,000-$100,000/year (~$34-$48/Hour)

Law/Professional Service Firm Partner:

  • ~1 Partner for Every ~3-5 (or ~9) Professionals

  • Partner Bill Rate: 2 Times Regular Bill Rate (Law ~$450/Hour)

  • Partners Time Use: ~50% Bill, ~50% Unbillable Sales/Admin

  • Law Partner Salary: Double Staff Rate ~$300,000/year (~$140-$160/Hour)

Corporate Entity:

  • Allows for multiple owners of entity (partners and/or shareholders)

  • Produces entity specific financial statements.

  • Corporate Debt & Equity Financing separate from personal finances.

  • Can own other corporate entities, franchise brands/concepts, operating firms, financial investments, etc. Ability to Transfer these Firms and Assets between companies for their fair market value in cash or equity.

  • Ability to perform Mergers & Acquisitions

  • Cash Paid out to owners only when dividends are declared.

Operating a Corporate Entity:

  • Legal Entity Setup Fees: ~$2,500-$5,000 (Filing and Legal Fees)

  • Minimum Initial Equity Investment: ~$10,000

  • Equity Financing: Issue Shares (Public Offering or Private Sales) or Inject Capital (only in 100% Owned Companies)

  • Debt Financing: Borrow Money for Corporate Entity

  • Dividend Policy: Payout Ratio (% Earnings) or Specific dollar amount (Startup: 0% Earnings, Standard Policy: ~35% Earnings, Mature Firm: up to 50%-80% Earnings)

  • Required Corporate General & Administrative Support Staff: Budget & Headcount for Executives and Corporate Staff ~15%-20% of Total Company Revenue, ~15%-20% of Company Headcount.

    • Corporate Retail Professionals: Purchasing, Logistics, etc:

      • Assistant/Entry Level Staff (Can Support up to ~2 Stores)

      • Experienced/Professional Staff (Can Support up to ~4 Stores)

      • Senior Staff (Can Support up to ~8 Stores)

    • General Administration Staff: ~1 G&A Staff Required for every ~2 stores or ~9-10 Lawyers (~1 for Small Office) (Accountant/Bookkeeper, HR, etc.)

Executive Salaries:

  • Minimum Executive Salary (Startup): ~$80,000-$100,000/year (~$38.50-$48/Hour)

  • Average CEO Salary: ~$200,000/year (~$96/Hour) (for ~$20+ million/year business)

  • Average Other Executive Salary ~$150,000/year (~$72/Hour) (for ~$20+ million/year business)

  • Executive Salary Caps:

    • Company Revenue: ~$10 million-$20 million/year, CEO Cap ~1% Revenue, Other Executive Cap ~0.75% Revenue

    • Company Revenue: ~$20 million-$100+ million/year, CEO Cap ~1% Revenue, Other Executive Cap ~0.5% Revenue

  • Corporate Staff Salaries:

    • Assistant/Entry Level Staff: ~$60,000/year (~$29/Hour)

    • Experienced/Professional Staff: ~$80,000/year (~$38.5/Hour)

    • Senior Staff: ~$100,000/year (~$48/Hour)

2 Likes
4

I Like It !! Your Good