Types of Business and Forms of Business Ownership By: Abid Istwani, Ayaan Mohammed

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Types of Business and Forms of Business Ownership By: Abid Istwani, Ayaan Mohammed

Forms of Business Ownership -Ayaan Mohammed

Co-operative

A cooperative is a private business organization that is owned and controlled by the people who use its products, supplies or services.

Franchise

A franchise business is a business in which the owner sells the rights to their business logo, name, and model to third party retail outlets, owned by independent, third party operators, called "franchisees".

Mc'Donalds

Subway

Corporation

A form of business operation that declares the business as a separate, legal entity guided by a group of officers known as the board of directors.

Corporation Business

Partnership

A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits

Partnership Business

Founders of Microsoft

Sole Proprietorship

A sole proprietorship is owned and run by one individual who receives all profits and has unlimited responsibility for all losses and debts.

Examples

Single art studio

E-commerce - An online based business

Ebay is an online based company that connects sellers and buyers to sell or purchase used goods

Amazon is an online based corporation that sells products globally

Merchandising - selling goods and wanted merchandise to consumers

Wholefoods sells food and goods

Nike sells shoes and clothing

Service - Will sell time and effort to make something happen for customer

Types of Businesses -Abid Istwani

A barbershop provides the service of cutting and designing hair

A mechanic provides the service of fixing your vehicle

Manufacturing - Uses machines and raw materials to create artificial goods

Ford manufactures vehicles for transportation

Samsung manufactures technology

Non-profit - A non-profit organization that usually donates or sends all of they're earnings

World wildlife fund uses all of its earnings to help animals in need

habitat or humanity builds homes for ones in need