Business Ownership

plemar23
Mind Map by plemar23, updated more than 1 year ago
plemar23
Created by plemar23 about 5 years ago
34
4

Description

For other people doing gcse hospitality and catering or who need to know the business ownerships.

Resource summary

Business Ownership
1 Franchise
1.1 Firms successful business model and their name
1.2 Pay the firm to use their name and sell their stuff.
1.3 Examples
1.3.1 The twilight saga
1.3.2 The hunger games
1.3.3 Mcdonalds
1.4 Franchiser
1.4.1 Advantages
1.4.1.1 More money
1.4.1.2 Business grows faster
1.4.2 Disadvantages
1.4.2.1 Badly run
1.4.2.1.1 Bad reputation
1.5 Franchisee
1.5.1 Advantages
1.5.1.1 Support of the franchiser
1.5.1.1.1 Staff training
1.5.1.2 Good franchiser reputation means good buisness
1.5.1.3 Franchiser provides advertising, packaging and equipment
1.5.2 Disadvantages
1.5.2.1 Don't have any control
1.5.2.2 Expensive to buy into the company
1.5.2.3 Franchiser fails and so does franchisee
2 Sole trader
2.1 Owned by one person
2.2 Individual
2.3 Single
2.4 Advantages
2.4.1 Own boss
2.4.2 May not need to employ staff
2.4.3 Easy to set up, with few starting costs
2.5 Disadvantages
2.5.1 Difficult to take time off
2.5.2 Unlimited liability, sell possesions to get out of debt
2.5.3 No sharing risks, or anyone to help with decision making.
3 Partnership
3.1 2 people
3.2 Dual
3.3 3-1=2
3.4 Advantages
3.4.1 Time and cost commitments are shared
3.4.2 More money can be raised
3.4.3 Wider range of skills, talents and ideas
3.5 Disadvantages
3.5.1 Profits have to be shared
3.5.2 Harder to close down
3.5.3 Partners might argue
4 Limited company
4.1 Liability of members of the company is limited to what they have invested
4.2 Can't use personal belongings to pay off debt
4.3 Only the money put in by the buyers
4.4 Public
4.4.1 Advantages
4.4.1.1 Value of shares go up
4.4.1.2 Not personally responsible for debt
4.4.1.3 More access to finance
4.4.2 Disadvantages
4.4.2.1 Loss of individual control.
4.4.2.2 Value of shares go up
4.4.2.3 Threat of being taken over
4.5 Private
4.5.1 Advantages
4.5.1.1 Share of profits
4.5.1.2 Easier to raise funds
4.5.1.3 Shareholders aren't responsible for debt
4.5.2 Disadvantages
4.5.2.1 Complicated to set up
4.5.2.2 Control of the company is spread out
4.5.2.3 Employees might not be committed
Show full summary Hide full summary

Similar

BELIEVING IN GOD- UNIT 1, SECTION 1- RELIGIOUS STUDIES GCSE EDEXCEL
Khadijah Mohammed
Unit 1: Business Studies GCSE
Libby Rose
MATTERS OF LIFE AND DEATH - UNIT 1, SECTION 2 - RELIGIOUS STUDIES GCSE EDEXCEL
Khadijah Mohammed
Key Terms - Religion and community cohesion
jackson.r08
GROUPED DATA FREQUENCY TABLES: MODAL CLASS AND ESTIMATE OF MEAN
Elliot O'Leary
Fossils and evolution (edexcel)
10ia3416
And the Glory of the Lord- Handel
celeste-sykes
MARRIAGE AND THE FAMILY - UNIT 1, SECTION 3 - RELIGIOUS STUDIES GCSE EDEXCEL
Khadijah Mohammed
Religious Studies Key Quotes
darktwilight221
History of Medicine: Ancient Ideas
James McConnell
Forms of Business Ownership Quiz
Noah Swanson