What is the difference between Franchising and Licensing?
This is a very good question and one I get asked often. Many peoples are genuinely confused about the terms franchising and licensing and often use them interchangeably.
Business owners tell me that they want to license their business rather than franchise it, believing that licensing has much of the same advantages as franchising but without the costs and regulations. Unfortunately, this belief is wrong on many levels. So, to help dispel the myths here is a summary of the facts: