Essay on Sonic: Business and Sole Proprietorship

Submitted By jenncraft1424
Words: 343
Pages: 2

The four forms of business ownership are, Sole Proprietorship, Partnership, Corporation, and Franchiser. The first one would be sole proprietorship which means one person who owns and manages a business by their self or any other establishment. Partnership would be like a legal contract with somebody that is two or more persons which agrees to furnish a part of the capital and labor for a business. Corporation is when somebody that is granted a charter recognizing it as a separate legal entity and having their own rights, privileges and their own liabilities. The last business ownership would be franchiser which is a privilege or a right to officially grant a person or a group of people by the government. I think if Sonic would have remained a sole proprietorship it would not have grown as large as it has today. If it would have remained a sole proprietorship their wouldn’t be that many all over the United States, because I think it would have been hard to try to run all those business for one person and to have other people help you is less stressful and you get to have more restaurants around the world. I think the more you have the more successful you are. I think Sonic and other franchises are more successful than a lot of other restaurants because first off they have a lot of advertisements about the restaurants which give people a good look at what the restaurant is about and the things they serve there. Also you have a lot of people that go there to eat,…