Licensing Specialist

Opinions expressed by Entrepreneur contributors are their own.

Startup Costs: $10,000 - $50,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? No

Acting as a licensing specialist, you can seek out opportunities to secure the exclusive rights to use a popular name, product, service, or operating system or formula, and sell sublicenses to qualified business owners wishing to utilize the license in a business venture, product, or service. An example of a licensing situation is as follows: a popular motorcycle is being manufactured and you secure the master license to use the name of the motorcycle in question to promote products and services. You sell a license to a clothing company to use the motorcycle name, image, and logo on their clothing line and charge a one-time fee plus on-going royalties based on the success of the clothing line. You sell a license to a corporation that wants to establish a chain of restaurants using the motorcycle's name, logo, and image. These are only two examples; there are literally hundreds if not thousands of ways to profit as a licensing specialist.

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