Answer to Question 1
ANSWER:
Advantage: model, curriculum, programmatic decisions already developedalso name recognition. Disadvantage: must follow franchisors requirements; may not agree with all of them, particularly if they are modified.
Answer to Question 2
ANSWER:
Three types: sole proprietor, partnership, corporation/ for-profit or not-for-profit.
Sole proprietor: Can make your own decisions about running the business, but can be lonely particularly when a crisis hits.
Partnership: Allows you to share responsibility and finances, but sometimes partnerships are subject to different opinions about how to run the business.
Corporation: Attracts funding more easily and may be more stable because of less dependency on a few individuals. Also, personal financial protection because individuals holding positions in corporation are generally protected from personal liability for acts or debts of the corporation. Setting up corporations is more complex and more costly.
(1 point each for business types named and 1 point each for advantage and disadvantage)
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