6 Functions
Promoting the product
What is Marketing
All the financial goes to
You only
The business is split in between....
You and your partner or more people
What is a franchise
a small owner that purchases the right to use an existing business but can only sell mother companies product
How do they make money
What is selling stocks
Responsible for Hiring or Firing people and more
What is Human Resources
One disadvantage of this type
No liability protection because all of it goes to you
What is one benefit
Everything can be split in half
What is a example of a franchise
Who are the owners
The owners are stockholders
Planning, Organising, Directing
What is Management
Is this type of business easy to start
Yes it is easy
Is there another type of partnership and what is it called
Yes, A limited partnership
What are the 4 R's of this business
Realism, Resources, Research, and Resolve
How does this business grow
To expand the market reach of it
Handles bookkeeping and sorts out financial documents
What is Accounting
What stores can be a Sole proprietorship
What is Floral stores, and bookstores
A disadvantage of this type of business
Your partner may start not getting along with you and disagree on things
What is the most important element
To provide consistency and service
Whats most important
It is creating stock value
What is Information Technology
What is a Sole proprietorship
Someone who starts a business by themselves and has all the responsibility
What makes a partnership the best
To be communicative to each other and give your opinions
Whats a benefit of this business
It is lower risk than starting a whole new business
What is a example of this
An example is Walmart