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

Question

Quizplus · Accepted Answer

This is an owner-managed business as Allan owns and operates the hot dog stand himself. A sibling partnership would involve multiple siblings owning and operating a business together. A franchise involves opening a business under a pre-established brand name and following specific guidelines. A cousin consortium is not a commonly used term in business and does not accurately describe this type of business.

Allan Opened a Hot Dog Stand in Central Park, New