I need 3 businesses that are Sole Proprietorship, partnership, and a franchise.I know what they mean but I need a businesses which is one of those three.

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marieb123's profile pic

marieb123 | College Teacher | (Level 1) eNoter

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A sole proprietorship is an individual who operates a business enterprise and is solely responsible for the firm's profits and losses, such as Jane Doe, CPA.

A partnership involves two or more people who share the debts and profits of the entity. Examples include the large accounting firms including KMPG plus Ernst & Young.

A franchise involves a franchisor, the founding company, selling a right to conduct business to a franchisee, the purchaser, at various sites throughout the world. Examples include McDonald's, Supercuts and Domino's Pizza.

 

charlierocks14's profile pic

charlierocks14 | Student, Grade 10 | (Level 1) Honors

Posted on

A sole proprietorship is a business that is owned and run by the same person.  This might be any small business, such as a local bakery or coffee shop.  A partnership is a business that is owned and run by two or more people that share relatively equal shares of the company as well as its profits and losses.  An example of a partnership could be a dentist office, where two dentists own and operate a practice.  A franchise as you know is the most popular form of business because it is sometimes considered the easiest type of business to begin and run.  An example of a franchise would be MacDonalds, Wendy's, or any other chain of stores that you have seen. 

 

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