Fearing the debate would never end (and with our coffee running out), the staff finally settled on the following (admittedly unscientific) criteria: size and longevity of operation, visibility of brand, and -- quite honestly -- how compelling we found the founder's success story. If our internal discussion about this list serves as any indication, many readers will feel we snubbed their favorite franchise founder (and someone on our staff will probably agree). So, if you think we missed someone, leave a comment below, and let the debate begin!

The primary difference between equity financing and debt financing is that with debt financing, you will have an obligation to pay back the borrowed sum at a stated interest rate, but you will retain control of the business; in equity financing you are giving up a part of the business to an investor or investors in exchange for their financing. The investors may claim some control of the business operations; they will also have some ownership in the assets and potentially will take a share in the earnings. You will not have a set debt obligation to repay as you would with a monthly loan payment to a bank. The investor will be taking a risk as to when and how much of the investment he or she will recoup, as well as whether there will be a return on the investment.

Renewal season means different things for different people. Here are a few important tips to keep in mind: