Allan opened a hot dog stand in Central Park,New York City.He owns it and operates it six days a week,year round.What kind of business is this?

Question

Quizplus · Accepted Answer

Allan's hot dog stand is owned and operated solely by him, making it an owner-managed business. A sibling partnership involves two or more siblings owning and operating a business together, a franchise involves a business being owned and operated under the name and guidance of a larger company, and a cousin consortium is not a commonly used term in business.

Allan Opened a Hot Dog Stand in Central Park,New York