Different Business Structures and Ownership Forms
Explore the key aspects of various business structures like Sole Proprietorship, Partnership, Corporation, Co-operative, and Franchise. Learn about ownership forms, profit distribution, and management styles to make informed decisions for your business endeavors.
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Presentation Transcript
Please grab a chair and sit in the centre.
1. DESIGN FOR THE FUTURE PRESENTATIONS Please put your cell phones away in courtesy of the presenters. 2
2. FORMS OF OWNERSHIP Let s go over the worksheet together. 3
Owner receives all of the profits and is responsible for all debts. 4 Sole Proprietorship Partnership Corporation Co-operative Franchise
The business is operated by two or more people who share the costs and responsibilities. 5 Sole Proprietorship Partnership Corporation Co-operative Franchise
The easiest type of business to start and administer. 6 Sole Proprietorship Partnership Corporation Co-operative Franchise
The business is managed by a board of directors. 7 Sole Proprietorship Partnership Corporation Co-operative Franchise
Parent company often advertises on behalf of all its operators. 8 Sole Proprietorship Partnership Corporation Co-operative Franchise
The business gives its owners one vote per share. 9 Sole Proprietorship Partnership Corporation Co-operative Franchise
The business gives one vote per owner, regardless of shares owned. 10 Sole Proprietorship Partnership Corporation Co-operative Franchise
Primary motive is service, not profit. 11 Sole Proprietorship Partnership Corporation Co-operative Franchise
Operator pays a monthly fee to the parent company. 12 Sole Proprietorship Partnership Corporation Co-operative Franchise
Owned by members who buy products or use service offered by the business. 13 Sole Proprietorship Partnership Corporation Co-operative Franchise
Liability can be limited or unlimited, depending on the agreement. 14 Sole Proprietorship Partnership Corporation Co-operative Franchise
3. EXAMPLES Can you think of examples for each form of ownership? 15
Sole Proprietorship 16 Most local businesses A family-owned pizza shop, since 1986
Partnership 17 Famous corporations that began as partnership business: A&W Baskin-Robbins M&M s Proctor & Gamble Twix, Milky Way, etc.? Did you know that M&M s not only makes M&M s but also Skittles, Snickers,
Corporation 18 Private corporation Controlled by only a few people The business is not listed for sale on a stock exchange Public corporation Shares are for sale on the stock exchange Crown corporation Operated by the provincial or federal government
Corporation 19 Most large name companies Microsoft: on NASDAQ as MSFT Chipotle is 100% corporate-owned. In other words, NO franchise. Canada Post is operated by the federal government. BUT local small businesses can be incorporated (Inc. or Ltd.) Get Fresh Coin Laundry
Co-operative 20 Often non-profit An organization committed to providing early childhood education. A retail cooperative, acting as a buying organization of individual members.
Franchise 21 Most commonly encountered daily Midas (franchise fee: appx. $30 000) Starbucks (franchise fee: appx. $315 000)
4. STARTING YOUR OWN BUSINESS Hang in there! 22
Why do people go into business? 23 To become the BOSS To achieve financial independence To use the skills and knowledge To be creative
Questions You Should Ask Yourself 24 What type of business do you want to own? Remember different ways of classifying a business?
Questions You Should Ask Yourself 25 What are your skills and interests? How can you apply them to your business?
Questions You Should Ask Yourself 26 Will your business be home-based? Office- based? Web-based?
Questions You Should Ask Yourself 27 What kind of research can you do about your business? Industry Canada (http://www.ic.gc.ca/eic/site/icgc.nsf/eng/h ome?OpenDocument) Statistics Canada (http://www.statcan.gc.ca/eng/start)
Questions You Should Ask Yourself 28 What are the Start-up costs? How are you going to finance your business? Business Know-How Calculator: http://www.businessknowhow.com/startup/ startup.htm The Wall Street Journal Calculator: http://www.wsj.com/public/page/news- small-business-startupCalculator.html
Questions You Should Ask Yourself 29 What level of risk can you expect?
Grading Rubric 30 Content Are answer all questions answered completely? Organization Is your proposal organized in an easy to follow manner? Presentation Is your proposal visually appealing when appropriate? Communication Does your proposal follow the rules of the English language? Is the proposal written in your OWN voice?
