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BUSINESS IDEAWith your group
Think of a business idea/store that you can open up
In your bell work, answer the following questions:What is the name of your business?
What do you sell?
Why would people be interested?
What advantages will you encounter by owning your own business?
What disadvantages will you have?
Create a Logo for your Business.
BUSINESS ORGANIZATIONS
LOGO PARODIES
BUSINESS ORGANIZATIONEstablishment formed to carry on commercial enterprise (Places that sell products)
5 types
Sole Proprietorship
Partnership
Franchise
Corporation
Cooperatives
SOLE PROPRIETORSHIP
• Business owned and managed by a single individual
• Person takes on 100% liability
• Most common business organization in the United States
Generate only 6% of United States sales
SOLE PROPRIETORSHIP ADVANTAGES
Low barriers to entry
Few Government Regulations
industry specific laws and zoning laws
CHINA GRILL
5 STAR REVIEW
“I rarely venture to midtown in hopes to a find truly excellent meal, especially directly by Time Square, however China Grill has proven that they can provide great food and great service even in a touristy area.”
HEALTH CODE VIOLATION
Mold and insects located in walk-in refrigerators
ADVANTAGES CONTINUED
-Owner receives all profit
-Owner has full control
-Easy to shut down the business
DISADVANTAGES OF SOLE PROPRIETORSHIPS
-Unlimited personal liability if things go wrong
-Limited access to resources
-Lack of permanence
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