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Business Know-how Housing and Interiors. Entrepreneur. A person who assumes risk of starting and operating a business for the purpose of making a profit. Acquiring a Business. Take over a family business Buy an existing business Start a business on your own. Proprietorship . One Owner.

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Business Know-how Housing and Interiors


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    1. Business Know-how Housing and Interiors

    2. Entrepreneur A person who assumes risk of starting and operating a business for the purpose of making a profit

    3. Acquiring a Business • Take over a family business • Buy an existing business • Start a business on your own

    4. Proprietorship One Owner

    5. Advantages Easy start up All profits to owner Business pays no income tax Little government regulations Direct control Disadvantages Unlimited liability Difficulty in financing Limited life (death) All losses responsibility of owner Sole Proprietorship

    6. Partnership • Two or more owners

    7. Advantages Easy start up Business pays no income tax Limited government regulations Shared financing and losses Disadvantages Unlimited liability Shared profits Limited life(death) Shared control Partnership

    8. General All partners are general All partners- unlimited liability All partners-full management of business Limited Usually an investor Usually does not manage day-to-day activities Usually limited to the extent of the investment Partnership

    9. Corporation • Owned by stockholders

    10. Advantages Limited liability Ease in raising capital $$$ Continuity of business Ownership is easily transferred Disadvantages Expensive to form Profits depend on investment Double taxation Lack of control by owners High government regulations Corporation

    11. Franchise • Décor and You • Color Your Carpet • Designs of the Interior • Decorating Den

    12. Advantages Established name Reduced risk of failure Benefit of national name Training provided Disadvantages Cost to purchase is high Additional fees for local advertising Percentage of sales goes to franchisor Lack of freedom in running business Franchise