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Advantages of sole partnership All of profits go to owner You get to make all the decisions You are your own boss Its easier and less expensive

Disadvantages of sole partnership  You may not have as many opportunity's you would have had if you were in a partnership  Unlimited liability  Pressure/Stress

Advantages of a Partnership There will be more ideas flowing because there’s two of you thinking instead of one There will be more opportunity's  Less stress because there are two of you on the job

Disadvantages of a Partnership You have to share profits  There will be disagreements between the two of you in that partnership  Have to wait for the other person to make rash decisions

Advantages of Corporations  There’s a board of directors there to help you  Not a lot of stress considering the you have a board of directors making all of the “Big” decisions.

Disadvantages of Corporations  You can’t make your own decisions  You must agree with the board of directors  Your ideas may not be acknowledged

Advantages of Franchises  Easy to run   You only pay a fraction of the fee’s to start the business because the franchiser pays the rest.  You hire the people to run it and you stay home while other people do the work

Disadvantages of Franchises  You have to pay a franchise fee   You have to pay a portion of advertising costs  You MUST maintain the standards set by the franchisers

Which franchise would I like to run/Open?

Why a TimHortons??? We live in Canada….. (Nough Said/Its very popular here) There can never be too many TimHorton's I would open it in the Seaway mall because a majority of the time someone in the mall will be wanting a coffee/Smoothie so it would be a great location

Types of business ownership  
Types of business ownership