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This type of business is pinned all over the united states. A person could've started it but now there in't just one owner of the store, there are hundreds. Pro's of this business is that there is already a business plan lined out. You don't have to figure out how to design the place or chose what to sell because it's already planned out. This business plan can also make finance easier because they offer loans who want to own the frachise so it makes it easier. Some cons are that you have no flexability when it comes to rules or really anything because you may own that store but its run by a higher up CEO which means you have to abide by them. The fate of your business is also not in your hands so if things go south you can't really do much about it. An example of this type of ownership would be Mcdonalds or 7/11.

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This is a type of enterprise that is owned and run by one person. Which means there is no legal distinction between the owner and the business entity. A positive for this type of ownership would be that you don't have to listen to someone else, you can handle all type of debt, liability, and business yourself. Its also good because there ease when setting it up. The costs are nominal. This ownership however does not offer asset protection and you don't have a seperate corporate legal identity. An example of a sole proprietorship would be J&P's in Mt Ariy.

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This is a business structure where the owners are not personally liable for the compainys debts or such. They combine traits of both partnership and sole proprietorship. For this business style there is felxable mangment, all the people can decide what happens on a day to day bases as well as its not as expensive to setup, the payments are pretty light. The cons of this business style is that if someone from the compaine leaves or they go bank rupt, whoever is left has to deal with the debt and the liabilitys. The business also comes with self-imployment taxes which means you are personally responsible for paying social security and medicare tax. You cannot pay these together or split them, you have to personally take care of it. An example of this type of company would be Blockbuster.

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This is a formal arrangment by two or more people/parties which manage and operate a business and also share profits. This ownership really is beneficial because you are usually running the business with a family member so you get a lot of help from them or your friends and theres two minds working on projects and not just one. If something ever happened to your partner, you would be liable for all the debts and not just half of them. Another negative thing about a partnership is that two of you could have different opinons and not agree on something leading someone to buy the other out or the store has a 'falling out'. An example of a partnership is Redbull and Go Pro.