Chapter 13 Franchising, Joint Ventures, Co-Branding, and Licensing Until this point, the focus of this book has been on the many ways in which you can raise equity or debt capital to facilitate the growth of your business. As we have seen, equity has its costs in terms of dilution of ownership and control, and debt can weigh heavily on an entrepreneur, both because of the burden of repayment and because of the accompanying covenants that will govern and restrict the company's day-to-day operations. Therefore, some entrepreneurs choose an alternative strategy when it comes to developing ways to grow their businesses--one that uses the resources of others to meet their growth objec- tives. These strategies can also be used to enhance the company's business model to generate new revenue streams and profit centers, which may be a 267 American Management Association www.amanet.org