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Sole trader - where a business is set up by one person
Advantages:
Has their own say
Makes their own decisions.
Disadvantages:
Unlimited liability - have to pay everything yourself if you lose money.
Franchise - where you buy into an existing company e.g. Mcdonalds
Advantages:
You are part of a well-known company
Limited liability - if you lose monet, you only lose what you put in.
The company you have bought into will provide the money
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∙ 11y ago
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Is Walmart franchise?
Yes Walmart is a franchise, they have stores all across North America.
How many movie are there in the sharknado franchise?
5 movies are in the sharknado franchise
What are the Cash requirements to have a Walmart franchise?
There's no such thing as a Walmart franchise. All their stores are company owned.
Is Kmart a franchise?
yess
Is Michaels Arts and Crafts a franchise?
i want a to buy a franchise of michaels art and crafts my email is mgiron@cotisaguatemala.com
What is different and similar between franchise and sole trader?
Sole traders just trade and produced the sole on the bottom of your shoes. Franchises are specialised to trade/sell french products
What is a function of a sole trader?
Sole trader it means Sole trade agence?
What is the function of sole trader?
Sole trader it means Sole trade agence?
What is a function of the sole trader?
Sole trader it means Sole trade agence?
What is the liability of sole trader?
a sole trader has a limited liability. :)
How do you set up a sole trader?
advantages of a sole trader
Is body shop a sole trader?
Yes body shop is a sole trader.
Compare and contrast sole proprietor and partnership?
When comparing and contrasting sole traders and partnerships it is essential that you consider what the question is asking - compare means similarities and contrast means differences. COMPARE A sole trader AND a partnership both have unlimited liability, except where there is a sleeping partner, who would not be affected by this. A sole trader AND a partnership both operate in the private sector of business. A sole trader AND a partnership both have similar goals or objectives - survival, make a profit, increase market share. A sole trade AND a partnership are both likely to financed in a similar way, ie bank loan, personal savings or from friends and family. CONTRAST A sole trader is owned by ONE person WHEREAS a partnership can be owned by anything between 2 and 20 people. A sole trader has the final say in decisions WHEREAS a partnership can discuss decisions and get other people's ideas. A sole trader has full and final responsibility for the business and has to be a "Jack of all trades" WHEREAS in a partnership there can be specialisation of each partner. A sole trader gets to keep all the profit (if (s)he makes one) WHEREAS a partnership must share out the profit in pre-designated proportions.
Famous sole trader companies?
Lord Sugar is a famous sole trader in the UK.
What is a sole trader organization?
Sole proprietor
How many people does a sole trader employ?
A sole trader can employ as may people as is necessary
Characteristic of a sole trader?
the characterististics of a sole trader are: -unlimited liablitity -only one person controls the business which is called the sole trader - financial infomration is only visible for the owner of the business - the sole trader can keep all profit made by the business - it is a unicorporated business
