What type of business opportunity is Joey participating in by only selling licensed products?

Joey is participating in a franchise opportunity by selling licensed products. In a franchise arrangement, a franchisee is granted the right to operate a business under the brand and business model of an established company (the franchisor). This often includes selling products that are licensed by the franchisor, which means Joey is leveraging the established brand's recognition and customer trust, gaining access to their business framework and support.

This model involves adhering to specific operational standards and product requirements set by the franchisor, ensuring consistency in brand presentation and customer experience. Selling licensed products aligns perfectly with the franchise concept, where the franchisee operates independently but under the auspices of the franchisor's established business practices, product lines, and branding.

In contrast, an independent business operates without the backing of a franchisor, while a joint venture usually involves collaboration between two or more parties to achieve a common business goal. A sole proprietorship refers to a business owned and operated by a single individual but does not inherently include the aspect of selling licensed products in the same structured way as a franchise.