32 EE illi E. ab a. & 11 CIE 5-3 FORM OF BUSINESS OWNERSHIP The needs of the businessperson starting a new business are a major consideration when deciding the best form of business ownership. The kind of business being started is also important to consider when deciding to make your new business a sole proprietorship. partnership or corporation. Look at the list of new businesses below. Indicate the form of ownership you think would be best for each business. Give the reasons for your selection and consider and discuss the pros and cons of the form you chose as discussed in the chapter, Business Form Reason A Dd Taco franchise Nursing home Gardening service A Coffee shop Hybrid car company Hair Salon Baseball cap manufacturer A Dental practice 2. If you wanted to structure your business as an LLC, research and describe the process. 3. List at least 3 pro and cons of franchising Default Style Frelih