1.5 Other forms of business Flashcards
1
Q
Franchising:
A
Where an individual buys the rights to operate a business model.
1
Q
Social Enterprises:
A
Businesses with the goal to create a social or environmental impact.
2
Q
Lifestyle Businesses:
A
Small owner-operated businesses that prioritises a specific lifestyle or personal interest over money/growth.
3
Q
Online businesses:
A
Low overhead costs, operate from anywhere.
Are still required to have a legal structure such as a sole trader or a PLC.
4
Q
What’s an example of a franchise.
A
McDonald’s
5
Q
What’s an example of a lifestyle business.
A
Personal trainer
6
Q
What’s an example of an online business
A
Etsy shops.
