Starting a Buisness
Sole Proprietorships
Partnerships
Corporations
Franchises
100
The person who makes the decision to start a business and take the risk
What is an entreprenuer
100
The owner of a buisness
What is a proprietor?
100
Special form of partnerships in which partners are not equal
What is limited partnerships?
100
The owners of the corporation
What is stock holders?
100
A person who sells another business the right to use the name and sell its products
What is a franchisor?
200
Supply of whatever items are used in a buisness
What is Inventory?
200
When the proprietor has complete legal responsibility for all debts and damages
What is unlimited liability
200
Temporary partnerships set up for a short period of time
What is a joint venture?
200
A liscense to operate from a state
What is a corporate charter?
200
The person or business buying the rights is known as this
What is a franchisee?
300
You do this by adding your wages to your other expenses and seeing how much you have left over
What is calculating your profit?
300
Another name for the proprietor; handles all decision making
What is a manager?
300
Two or more partners must sign this to present things such as the company name and how long it will last
What is a certificate of limited partnership?
300
Application with the state in which you will run your corporation
What is Articles of Incorporation?
300
Franchise agrees to pay this for buying its rights
What is a fee?
400
A system to track your expenses and income
What is record keeping?
400
The Small Business Administration helps finance these
What is start-ups?
400
Partners must pay this on their share of profits
What is income tax?
400
Holders of the preferred stock usually dont have this in the corproration
What is voting rights?
400
A name for franchises such as McDonalds
What is a franchise chain?
500
Using this to think about what you will do, to write ads, set up book keeping, etc.
What is The Time Factor?
500
A sole proprietor must rely on this for the financial growth of the business
What is personal funds?
500
The business may close if this happens to one of the partners
What is leaves or dies?
500
To become incorporated a company must have this
What is Board of Directors?
500
Three types of buisnesses involved in franchise chains
What is hotels, gas stations, and fast-food resteraunts?
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