TUTORIAL: http://smallbusiness.goventure.me/Shared/Video.asp (It is recommended that you watch the tutorial before beginning the simulation, as it will provide guidance in properly starting your business and how to effectively use the simulation.)
HELPFUL RESOURCE: The following link is also a helpful resource for completing the assignments (and in general): https://www.sba.gov/. Specifically, the following article on choosing your business structure may be helpful for this assignment: www.sba.gov/starting-business/choose-your-business-structure.
ASSIGNMENT 2 INSTRUCTIONS
Please provide your answers in thought-out, coherent paragraphs and use complete sentences.
a. What type of business ownership (legal structure) did you choose for your business? Explain why. What are the advantages and disadvantages of this in terms of profitability?
b. If you could choose to be a franchise of another company, how would this impact your business? What would the franchisor provide for you? What decisions would you still need to make as the franchisee? Would your company be better off as a franchise? Why or why not?