Joanne plans to open Jo's Pet Store, a pet sales and pet supplies outlet, and to hire Ted and Ruth.Joanne will invest only her own money.She does not expect to make any profit for at least two years and to make almost no profitfor the first three years, but she hopes to eventually expand.

Which form of business organization would be most appropriate?

What are the chief characteristics, advantages , and disadvantages of this business organization?

If Joanne wants to obtain additional capital to expand the business, but does not want to lose control of the firm, what are her best options?