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