Types of Business

Wholesaling Business

Business that buys goods in large quantities,typically from manufactures, and resells them in smaller batches to retailers. Also referred to as a wholesaler.

Retailing Business

Business that buys goods, often from wholesalers, and resells the goods in small quantities directly to consumers. also referred to as a retailer

Manufacturing Business

Business that converts materials into goods suitable for use and sells those goods to others. Also referred to as a manufacturer.

Service Business

Business that provides and sells services to customers for a fee.

Franchise

Is an arrangement which an established company sells the right for others to use the company's name and operating plan to sell products or services.

Re-seller's Permit

special permit, required by most states, that retailers must have to purchase goods tax-free from wholesalers and collect sales tax from end buyers.

North American Industry Classification System

Classification system that assigns a numerical code to every industry in North America based on its primary business function.

Trade Business

Term used to refer to a wholesale business or retail business.