He/ she founds and runs a small business, assuming all the risks and rewards of the venture.

This is a form of business ownership where two or more people act as co-owners.

It is a form of business ownership, where there is one owner who's responsible for the business.

It is a form of business refers to an arrangement where one person/ company grants another person/ company the right to use its trademark/ trade-name.

Advantage: Start-up cost are low

This refers to a person/ company that is granted a license to do business under the franchisor's trademark and trade name.

TRUE or FALSE: A franchisor is a person/ company that grants a franchisee a license for the conducting another business branch.

Advantage: Shared responsibility

Disadvantage: Other franchisees could give the

brand a bad reputation

Franchising: The franchisor gives you support

Sole Proprietorship: All responsibilities are yours

Two heads are better than one

Which of the following business are examples of SOLE PROPRIETORSHIP? (Choose 2)

Which of the following business are examples of PARTNERSHIP? (Choose 2)

Which of the following business are examples of FRANCHISING? (Choose 2)