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Business Presentation on on Sole Proprietorship and Partnership

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by

Erin Zhang

on 3 May 2015

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Transcript of Business Presentation on on Sole Proprietorship and Partnership

In general Partnership, all partners have unlimited liability for the debts
Disagreement between partners can be a pain
All decisions are shared
Advantages
Allows you to be your own boss and the set your own hours
All profits go to the owner
Easier and less expensive to start and run compared to the other types of businesses
Work individually
Owner can name their business with their name (eg. Howl's Manga Store)
Partnership

A business that's ran by two or more "partners"
A partnership agreement was signed before the business starts to run all the specific details were written in it
Sole Proprietorship
Sole Proprietorship
and Partnership
Businesses

Disadvantages
Advantages
Shared responsibilities and costs
One partner may be skilled in one area where the other is lacking
Limited liability/Unlimited liability
Can be listed in the partnership agreement
A type of business owned by one individual
It is a simplest way to start a business
The Sole proprietorship is not a legal entity
The one person is in charge of everything
He/she is the boss
Unlimited liability
Owner is responsible for all business losses
Start up costs will have to come from owner savings or a bank loan
Owner may not be familiar with some aspects of business
Disadvantages
Resources
Text book: The world of Business
Hangouts from class BBI101-01 in Dr. Norman Bethune C.I.
Website: Wikipedia, Business insider
http://en.wikipedia.org/wiki/Sole_proprietorship

http://www.businessinsider.com/10-super-successful-co-founders-and-why-their-partnerships-worked-2010-7?op=1
Example of successful Partnership Business
Steve Jobs and Steve Wozniak
Company: Apple Inc.
Year founded: 1976
Bill Gates and Paul Allen
Company: Microsoft
Year founded: 1975
Two Types of Partnerships
General Partnership:
Most common form
Unlimited liability
All partners could be held responsible for other partner's business related debts.
Limited Partnership:
Limited Liability
Partners are only responsible for paying back the amount they invested in the partnership
The Partnership Agreement
HI
BUSINESS
PARTNERSHIP
MONEY$
WORK
JOB
OWNER
WORKDAYS
WORK TIME
OPERATION TIME
PROFIT
PARTNERSHIP AGREEMENT
OFFICE
COMPANY
PRESENT
SELL
SOLE PROPRIETOR
CONTRACT
BUY
COMMUNITY
ADVANTAGES
SELL
DISADVANTAGES
LOSSES
SERVICE
PRODUCT
GOODS
INVENTORY
NEEDS
WANTS
REVENUES
EXPENSES
PROFIT
FOR-PROFIT
NON-PROFIT
GOAL
ROLE
LARGE
SMALL
CONSUMER
OBSOLETE
PRICE
CUSTOMER
COST
COMPETITION
MARKETPLACE
INFLUENCE
ENTREPRENEUR
RESOURCES
ECONOMIC
RESOURCES
CAPITAL
RESOURCE
$$$
DEMAND
HUMAN
RESOURCES
NATURAL
RESOURCES
INTERDEPENDENCE
SUPPLY
EQUILIBRIUM
QUANTITY
INCREASE
DECREASE
SOLVENCY
PRICING
POWER
SHORTAGE
SUR
PLUS
INTANGIBLE
COST
PRICING
POWER
PURCHASING
POWER
ESSENTIAL
GOODS
ESSENTAL
SERVICE
LUXURY
GOODS
LUXURY
SERVICE
RAW
MATERIALS
LABOUR
ECONOMIC
SYSTEMS
LAW OF
DEMAND
LAW OF
SUPPLY
FAIR MARKET
PRICE
LIABILITY
RESPONSIBILITY
NEEDS
WANTS
PROFIT
REVENUS
EXPENSES
NON-PROFIT
FOR-PROFIT
GOAL
JOBS
ROLE
CHANNELS OF
DISTRIBUTION
GOODS
SERVICE
LARGE
SMALL
INFLUENCE
OBSOLETE
PRICE
MARKETPLACE
COST
CONSUMER
CUSTOMER
PRODUCERS
AGE GROUPS
TARGET
GROUPS
HI
HI
ENTREPRENEUR
INVENTORY
DECISION-
MAKING
ECONOMIC
RESOURCE
CAPITAL
RESOURCE
CAPITAL
RESOURCE
HUMAN
RESOURCE
NATURAL
RESOURCE
HI
LAW OF
DEMAND
LAW OF
SUPPLY
PRICE
BUY
SELL
QUANTITY
DEMAND
SUPPLY
PRODUCER
SUPPLY
INCREASE
DECREASE

BUSINESS
CONSUMER
ADVANTAGES
DISADVANTAGES
RESPONSIBILITIES
BUY
ECONOMIC
BUY
PARTNERSHIP
ECONOMIC RESOURCES
SOLE-
PROPRIETORSHIP
NEEDS
GOODS
WANT
SELL
SERVICES
PRODUCTS
LUXERY
PRODUCTS
LUXERY
SERVICES
HI
THANKS FOR
SHOPPING HERE!
HAVE A GREAT DAY
BUSINESSES
ENTREPRENEUR
PROFIT
SOLVENCY
COSTS
INCREASE
DECREASE
SHORTAGE
SUR PLUS
BY: YANJUN, FANXI, AND ERIN
If not available, we would choose International Franchises as the alternate

Benefits:
Easy to run the business
You'll learn how to run the business from the Franchiser
Consumer knows your brand
Easier to attract customer
International Franchises
Full transcript