Franchising comes in several types, each catering to different business models. The most common types include product distribution franchises, where franchisees sell products under a brand name, and business format franchises, which provide a complete system for running a business, including branding, training, and support. Another type is manufacturing franchises, where franchisees produce and sell products using the franchisor's brand and specifications. Additionally, conversion franchises allow independent businesses to rebrand and operate under a franchise system, benefiting from established brand recognition while maintaining some operational independence.