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Ownership Types - Coggle Diagram
Ownership Types
Franchise
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Disadvantages: varied levels of support ,contracts aren't permanent, you are your own boss so you have responsibility
Advantages: reduced risk of failure, you are your own boss, higher profits, better chance of finance
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Partnership
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Disadvantages: Shared liability, lack of stability, exit strategy complications
Advantages: Easy to get started, shared responsibility, flexibility
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Sole Trader
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Disadvantages: unlimited liability, sole responsibility, may struggle with finance
Advantages: complete control, easy set up, no sharing profits
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Private Limited Company
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Disadvantages: limited control, higher costs, shared ownership
Advantages: Access to funds, business name protection, less personal liability risks
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