MOM AND POP
A colloquial term for small, independent, family-owned, controlled, and operated business. Mom and pop businesses have less employees and low sales volumes. Unlike franchises and large corporations that have multiple operations in various locations, mom and pop shops have a sole location that occupies a small space. It can refer to any kind of business like auto repair garage, bookstore, or restaurant. It can also pertain to inexperienced or unsophisticated investors who trades in the market casually and do not lean on trading in order to supplement their income.
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