Sonic Boom

Topics: Corporation, Business law, Types of companies Pages: 1 (342 words) Published: May 24, 2013
* Do you think Sonic would have grown as large as it did today if it had remained a sole proprietorship? Why or why not? * What were the advantages and disadvantages to sonic of each form of business ownership? * There have been lots of drive-in and fast food restaurants over time. In your opinion, what makes Sonic and other major franchises more successful than others? I personally do not think that Sonic wouldn’t have grown as large as they are now if they would have remained a proprietorship. When Troy Smith first started the company back in 1954 is stayed the same for 2 years. In 1956 when Troy Smith brought a partner into the business it began to grow. The company stayed the same for 2 years. I do not think that the company would have grown unless Troy Smith brought a partner a partner into the business, based on the information that is given. Some disadvantages to owning a business is that when your first getting started you stay away from home and have very long hours. That means less time with your family and more time at the office. Most business owners usually haft to learn how to balance business and hone life. This also leads to many advantages. Some of the advantages is that is you manage everything right and do everything accordingly; you can have the opportunity to have many franchises and become more successful. Sonic now has over 3,000 drive-in restaurants. This goes to show how successful you can be in a business. In my own opinion, Sonic was more successful than others because they brought in partnerships and franchises fairly early when the company first started. For Sonic this business progressed rather quickly and effectively. Troy Smith turned a sole proprietorship into many franchises by added a partner. The reason I think Sonic was more successful than other companies because of the partnership. Most businesses don’t want to bring in a partner because of having to share the profit with others.
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