What are businesses often operated from the residence of their owner called?

Home-based businesses refer to enterprises that are primarily operated from the residence of their owner. This type of business structure allows individuals to conduct their operations from the comfort of their home, providing flexibility and lower overhead costs compared to traditional commercial spaces. Home-based businesses can range from freelancers and consultants to retailers and service providers.

Franchises, on the other hand, involve a business model where the franchisee operates a business under the branding and operational guidelines of a larger parent company. Corporations are legal entities that are separate from the individuals who own and manage them, providing limited liability to owners. Partnerships involve two or more individuals sharing ownership and management responsibilities of a business. None of these options directly describe the concept of a business being run from the owner's home, making the identification of home-based businesses as the correct answer quite clear.