Business Ownership Types

Front

Business owned by one person

Back

Sole Proprietorship

Front

Business owned by 2 or more people

Back

Partnership

Front

Business owned by stockholders

Back

Corporation

Front

Contractual agreement to sell products/services

Back

Franchise

Front

Examples of partnerships

Back

Law firms, doctor's offices

Front

Nike, Google, Apple

Back

Corporations

Front

McDonald's and Burger King

Back

Franchises

Front

Owner is their own boss, keeps all profits

Back

Sole Proprietorship

Front

Disadvantages: owner pays for everything, hard to get bank funding, lack of skills, unlimited liability.

Back

Sole Proprietorship

Front

Advantages: easier bank loans, share skills & risks

Back

Partnership