Sole pro proprietorship business

A partnership consists of two or more individuals or legal entities conducting business together. There are three main types of partnerships: general, limited and limited liability. Partnerships must apply to the state in which they operate and are primarily governed by state laws. Each partner invests in the business and shares in its profits and losses. Partners may or may not be liable for actions taken by the company.
A business partnership is a way of setting up a company that is owned and sometimes managed by two or more individuals or legal entities. Partners share in profits or losses.
Before establishing a business partnership, you should learn about the types of partnerships that exist and how each one works.
Sole pro proprietorship business.
A sole proprietorship can be explained as a type of business or organization that is owned, controlled and managed by a single person who is the sole beneficiary of all profits or losses and is responsible for all risks. This is a popular type of business and is especially suitable for small businesses, at least for the first few years. This type of business is usually a specialized service, such as barbershops, beauty salons, or small retail stores.
This type of business organization is formed by the owner himself.
No legal convention is required to start a sole proprietorship form of organization.
In some cases, legal formalities are required or the owner must have a certain license or certificate to operate the business.
The owner can close the business at will.
Advantages: A sole proprietor has a law to make any decision.
He or she can enter the business with minimum legal formalities.
He or she can keep all the business information to be private and confidential
Corporation: A corporation is a legal entity established by individuals, shareholders or for their profit. Corporations are allowed to enter into contracts, sue and be sued, own property, remit federal and state taxes, and borrow money from financial institutions.
There are some types of corporations such as Private, Public, initial public offering and others.
The private corporation is a type of corporation stock shares are only offered to specific individuals such as employees or investors.
A company whose shares are traded or may buy or sell.
2 Mc Donald’s company,
Business model of this company is the power of franchisees, suppliers and employees working together toward a common goal is what makes McDonald’s the world’s leading quick-service restaurant brand.
Franchisees bring the spirit of entrepreneurship and commitment to communities.
Suppliers and dedicated to highest levels of quality and safety.
The company facilitates learning and sharing across McDonald’s more than 36 000 restaurants
SWOT Analysis of MaDonald’s
Strength: McDonald’s has a reputed name amongst competitors in the food industry cause ofthe quality of food and service.
This company’s logo is one of the most recognized logo in many types of countries.
Weakness: Selling fast food at low price has pulled McDonal’s into negative press over the years.
This company often gets a lot of complaints because they provide only inorganic and processed food products.
Threats: McDonald’s is facing huge competition from the new emerging restraints and organic food outlets.
McDonald’s also faces competition in different countries by local food outlets there.
Environmental factor: Economic factors play an important role in operations of a company. If an economy of a country is doing well the business will flourish specially those producing luxury goods but if an economy faces recession these business will face negative impact on their sales.
Social factor: McDonald’s has various outlets in different countries. And also this company has the image of a socially responsible firm because of their involvements in projects to help people like they announced backing to the rainforest alliance.
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