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Types of Business and Forms of Business Ownership
By: Abid Istwani,
Ayaan Mohammed
Different types of business ownership include franchises, cooperatives, sole proprietorships, corporations, and partnerships. A franchise allows independent operators, known as franchisees, to use an established business'
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