STEN 1000 Chapter Notes - Chapter 7: Sole Proprietorship, Patreon, Angel Investor

• School: University of Windsor
• Department: Business
• Course: STEN 1000
• Professor: Mcfadyen

Document Summary

Is there an entrepreneurial gene or can you learn it: common set of characteristics merfs, motivation, expertise, risk management, focus, self-belief. Advantages: brand recognition/ a proven turnkey operating plan, pre-launch and ongoing owner and staff training, purchasing power through economies of scale, regional and/or national marketing support. 3: initial franchise fee (often several thousands of dollars, ongoing royalties/ cost of the business, contributions to a national marketing fund, significantly restricted freedom/ reduced control over products/services, operating hours/ protocols, and advertising. 5 b enefits of a ngel i nvestors or v enture capitalists. Factor analysis: the legal formation of a business. Five key factors influencing legal structure decision: ease of set-up, degree of control, magnitude of risk, financial capacity, required skills. 100% control of the business and all business decisions: the key risk issue is that the owner is 100% personally exposed to the liabilities incurred by the business.