Two students want to start a yoga studio after graduation

Two students want to start a yoga studio after graduation. Having taken a course on the legal environment of

business, and studied the materials on business organizations, they realize there are several types of business organizations available to them for their studio: sole proprietorship, partnership, corporation or franchise.

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Discuss each of these types of business organizations (sole proprietorship, partnership, corporation or franchise) including the advantages and disadvantages of each for the yoga studio business and make a recommendation on what type of business organization they should use.

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