Having a franchise is one of the most common ways to do business. To have a franchise means to have the license to run a business for another company and to be able to use the company’s logo and business model, and also their branding to run the business. You essentially are a store for that particular business and the only difference is that you have your own space and can run the business in pretty much your way, obviously while maintaining the standards of the parent company that you take the franchise for. Today, there are franchises for almost every type of business; food, clothing, cosmetics, accessories, and even flowers. There are many types of franchises today and it becomes difficult to identify between them and to understand which one is the best for you.