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your friends monica and rachel have approached you with a bus

Your friends Monica and Rachel have approached you with a business idea. They want to open three beauty salons in Adelaide. They have identified the shopping centres where the three salons will be opened. They invite you to a meeting where they present you with a business plan.
They will manage a salon each and their friend Phoebe will manage the third salon. Phoebe does not want to be involved in the business in any way apart from managing a salon.
They ask if you would be interested in investing in the business and they are seeking $150,000 from you. Monica and Rachel each have $50,000 invest. The total invest from all of you will be $250,000.
Monica and Rachel have not done anything further about setting up the business and were waiting until they discuss it with you. They want to call the salons Friends Essential Beauty.
1. What business set up would best suit Friends Essential Beauty and how would you protect your investment in the business? 2. What are the advantages and disadvantages of your choice of business set up. 3. How would you ensure the name Friends Essential Beauty is available and what does it cost to register the name?

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