week1 secondarypost1.docx - I enjoyed your post on comparing sole proprietorship and franchising Sole proprietorship is a form of business ownership

week1 secondarypost1.docx - I enjoyed your post on...

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I enjoyed your post on comparing sole proprietorship and franchising. Sole proprietorship is a form of business ownership where the owner is their own boss. I liked how you mentioned the ease of starting a sole proprietorship and your encouragement for entrepreneurs to take the leap of faith. A couple other advantages are leaving a legacy and no special taxes. Having a business to pass down to future generations is very special and shows the impact the business has on town. The disadvantages are like you said the unlimited liability and limited financial resources. I would add the overall time commitment, few fringe benefits, limited growth, and life span(Nickels, W.G. 2018). I enjoyed how you mentioned management and marketing help for the franchise. Training is very important to the consistency of the franchise. If the stores are not following policies and procedures and following recipes then the customer base will be effected. I liked how you mentioned the coattail effects
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  • Fall '19
  • Business Law, Corporation, Types of companies, Legal entities

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