Types of Business and Forms of Business Ownership

A business that involves one person. Examples are a plumber, barber or artist

A business that consist of 2 or more people. Examples include friends or family run businesses that consist of 2+ people

A corporation is a legally established business that can own assets and sustain debt. Famous example are The Coca Cola Co. and Microsoft Corp

A franchise is a license that one can buy from another for business knowledge assets to sell products and services. Examples that you may have heard of sre McDonalds and 7-Eleven, two of the biggest franchises around the world

A co-operative is a business owned and unanimously controlled by the people who use its services. These can incoude daycares or community centers

A service is an intangible item that people/consumers would be willing to pay for. Some examples are restaurants or a massage

Merchandising is purchasing a product from another company and then reselling them to make a profit. Example are supermarkets and car dealerships

A manufacturing business takes raw materials or other made parts to make goods that they can then sell. Some manufacturing businesses are Apple and Crush^

E-Commerce is buying and selling goods or a service using the internet. Some example are Amazon and eBay

An organization that does not look to make profit but is more for humanitarian or well being goals. Good examples are charities