Types of Business and Forms of Business Ow...- Mind Map

Types of Business and Forms of Business Ownership

Forms of Business Ownership

Sole Proprietorship

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

Partnerships

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

Corporation

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

Franchise

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

Co-operative

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

Types of Businesses^

Service

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

Merchandising

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

Manufacturing

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

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

Non-Profit

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

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