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
Yes Walmart is a franchise, they have stores all across North America.
5 movies are in the sharknado franchise
There's no such thing as a Walmart franchise. All their stores are company owned.
yess
franchise fee itself would probably be 15 thousand dollars
Sole traders just trade and produced the sole on the bottom of your shoes. Franchises are specialised to trade/sell french products
Sole trader it means Sole trade agence?
Sole trader it means Sole trade agence?
Sole trader it means Sole trade agence?
a sole trader has a limited liability. :)
advantages of a sole trader
Yes body shop is a sole trader.
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.
Lord Sugar is a famous sole trader in the UK.
Sole proprietor
A sole trader can employ as may people as is necessary
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