Because collegiate-logoed merchandise generates significant revenue, many vendors (licensees) are investigating the feasibility of producing collegiate memorabilia. Logo owners (institutions, bowl committees, and so forth) assume minimal commercial risks in collegiate merchandising. Most of the financial risks are assumed by licensees, who may find the collegiate licensing realm to be more imposing than suspected due to diverse licensing procedures and financial expectations of individual institutions. This study described characteristics of selected collegiate retail licensing programs and suggested implications for licensees and vendors to consider before deciding to venture into the collegiate memorabilia business.