Final answer:
Opening a liquor store can offer financial stability, but also poses risks such as personal liability and moral objections. Walter must assess these factors when deciding to open the store with his friends.
Step-by-step explanation:
Walter's decision to open a liquor store with his friends involves weighing the advantages and disadvantages of such a business venture. One advantage of opening a liquor store is the potential for steady and reliable income, given that alcohol sales are often consistent regardless of economic fluctuations. This could provide a good source of income and job security for Walter and his friends. Additionally, pooling resources with friends can lower individual investment risk and can lead to shared responsibilities in management and operations.
However, one disadvantage is the unlimited liability associated with a sole proprietorship, which is likely the simplest form of business Walter and his friends might start. Unlimited liability means Walter and his partners would be personally responsible for all debts and obligations of the business, which could negatively impact personal finances. If the business fails, the owners' personal assets could be at risk. Moreover, a liquor store can face moral objections from the community, require strict adherence to legal regulations, and be affected by negative social impacts associated with alcohol consumption.
In considering why liquor stores like the one mentioned in 'Country Club' liquor use names that appeal to snobbery, it may be to attract a certain demographic or create a perceived level of exclusivity influencing potential customers to visit.