The paper "Are you Suited to be a Franchisee" is an excellent example of a business assignment. If I were to start a business, I would choose a sole-proprietorship form because it is the easiest to organize and it is least costly, from among the forms of ownership. From a small amount of capital, I can venture into forming a business which interests me and where I am good at. Except complying with minimum requirements of getting a business license and the necessary permits from the local agencies and health department, I can immediately start the business.
Further, my personality veers towards taking complete control and making my own decisions. Since no one else is involved in decision making, quick and prompt action can be taken on matters that need to be addressed. Finally, if I decide to close the business, for one reason or the other, it could easily be dissolved without going through a complicated process. After taking the quiz, I discovered that I am a potential candidate as a franchise. I scored 66 in the quiz and as explained in the scoring discourse, many of my traits are close to those found in top franchisee candidates; however, I might not still be completely committed to the concept of running a franchised outlet of someone else's business.
This is true. Although it is closely similar to a sole proprietorship business, I would like to learn more about the intricate details of franchising. It is a little more complicated than the simple sole-proprietorship form but I have heard that there are also more advantages into franchising. Actually, I was not surprised at all at the results.
As I indeed have a strong streak of independence and is more comfortable giving directions than taking them, I would rather go into a sole-proprietorship type than venture into something I am not totally comfortable with.