Introduction to business

Front

This type of business is owned by one person.

Back

Sole Proprietorship

Front

This type of business is owned by two or more people.

Back

Partnership

Front

This type of business is a contractual agreement with a parent company to sell its products/services in an area.

Back

Franchise

Front

McDonald's and Burger King are examples of...

Back

Franchises

Front

Advantages of this business type are that the owner is their own boss and gets to keep all the profits.

Back

Sole Proprietorship

Front

Advantages of this business include: easier to get money from the bank to start, share skills and share risks.

Back

Partnership

Front

Advantages of this type of business include: easy to start, and you can rely on a good company name and expertise. Options: Sole Proprietorship, Partnership, Corporation, Franchise

Back

Franchise

Front

Disadvantages of this type of business include: parent company is strict, you are limited in what you sell, and you must operate like every other franchise.

Back

Franchise

Front

Disadvantage of franchise?

Back

must follow parent company business structure

Front

Mario and his brother Luigi started a plumbing company together. They split the profits and the expenses.

Back

Partnership