Share profit, each partner is legally responsible for what other partners do, need memorandum of association, need deed of partnership
4 of 10
Franchisee Advantages
Already established product, minimal advertising, can receive training and guidance from franchisor
5 of 10
Franchisee Disadvantages
Can only sell the products that the franchisor what you to sell, have to give away a proportion of the profit to the franchisor
6 of 10
Franchisor Advantages
Quick and easy way to expand and gain more market share
7 of 10
Franchisor Disadvantages
If a franchisee has poor standards it can affect the reputation of the whole company
8 of 10
LTD Advantages
Limited liability, can raise capital from selling shares
9 of 10
LTD Disadvantages
Must publish its accounts every year to the Companies House, hard to sell shares as all shareholders must agree, disagreements can arise between stakeholders, more expensive to set up than partnerships
10 of 10
Other cards in this set
Card 2
Front
Long hours, little holidays, unlimited liability
Back
Sole Traders Disadvantages
Card 3
Front
More capital, more ideas
Back
Card 4
Front
Share profit, each partner is legally responsible for what other partners do, need memorandum of association, need deed of partnership
Back
Card 5
Front
Already established product, minimal advertising, can receive training and guidance from franchisor
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