Forms and Types of Businesses

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Forms and Types of Businesses

Business Forms

Co-operative

A co-operative is a member-owned business that contains at least five members, all of whom have equal rights (regardless of their level of involvement or investment).

Elwood Grocery Store, a community owned charity grocery store

Heartland Nuts N' More, a community owned store which sells healthy nut products

Franchise

A franchise business is a type of business owned by a single entrepreneur (can be a group too).

Subway, a franchise which sells food

McDonald, a huge franchise which sells a variety of food

Corporations

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

Subtopic

FedEx, a shipping corporation which ships things from across the country, to you.

Google, an online corporation that helps people find anything

Partnerships

A form of business that it owned by 2 or more individuals who share management and profits.

Terry Fox Medical, a small medical practice that is ran as a partnership.

Akrami & Associates Immigration Law Firm, an active partnership Lawfirm run by 2 people.

Sole Proprietorship

Refers to someone who operates a business and has responsibility for its debts and payements

Cleaning Bees, a house cleaning service that is run by 1 person but has people working for them.

SmartTutor.com, an online tutoring site that you pay for. It's run by 1 person but they have hired different tutors.

Types of Business

Non-Profit Businesses

A non-profit company is dedicated to furthering a particular cause or advocating for a shared point of view. They are tax exempt or charitable.

Doctors Without Borders- An organization that helps doctors go around the world to help people.

WWF- World Wildlife Foundation- An organization that saves and helps Wildlife animals.

E-Commerce Businesses

An E-Commerce business is the buying and selling of goods and services, or the transmission of funds and data, over an electronic network, mainly the internet.

eBay- An online website on which we can sell and buy multiple things

Amazon- An online website on which you can buy multiple things.

Manufacturing Businesses

A manufacturing business is any business that uses raw components/materials to make a finished good that could be sold.

Apple- A manufacturing company for technology

Merchandising Businesses

Merchandisers purchase finished products and resell them to customers.

JC Penny's- A clothing store

Walmart- A grocery store that sells everything.

Service Businesses

A service is a commercial enterprise that provides intangible services performed by experts for the benefit of its customers.

Pallett Valo LLP- A law service where the company gives the service of advice to people.

Car Pride Auto Spa- A car wash company that does the service of washing people's cars