Types/Principles of Business

A sole proprietorship is owned by

• a corporation

• 3 other partners

• One person

• stockholders

An advantage to a sole proprietorship is

• Owner is his/her own boss

• its fun

• a lot of work

• just a silly idea

A partnership is a kind of business that is

• owned by one person

• owned by 2 or more people

• just chill

• a crumb snatcher

A partnership advantage is

• we can play one on one on our breaks

• partners share skills and talents

• we buy each other lunch at the Burrito Shak

• my partner can run out and get coffee at Dunkin for me

An example of a corporation is

• Lobstah Shack

• Nike

• Cookout

• Oval and Ale

A franchise advantage is that

• we can eat all we want

• its cool to show up to work in a Porsche 911

• its easy to start and we get help form the franchisor

• money grows on trees

An example of a franchise is:

• Burrito Shak

• Google

• Buckees

• Mobil/Exxon

A Profit-Making business motive is to

• give everything back to the community

• earn more revenue than expenses

• not pay taxes to the government

• spend all the profits on Fortnite skins

This type of business, Salvation Army, will use its profits to benefit the purpose of the organization...this is a

• Non-profit business

• corporation

• dollar tree

• weird question

This kind of business doesn't make a product. A landscaper, Uber, electrician is an example of this type of business

(a)