Facebook profiles are for people.
Fan Pages are for businesses.

People vs. business
Profiles are intended for people, not businesses. It’s actually against the Facebook terms to use a profile for a business.

SEO
Your Facebook Fan Page can be a part of your Search Engine Optimization strategy. Why is that, you ask? It’s because Fan pages are indexed by search engines. Profiles are not.

If you’re like most business owners, you want as many people as possible to find you online. If you set up a profile in your business name, you’re not maximizing your exposure. Sure, your Facebook friends will be able to see your page, but new people won’t find you all that easily.

Fans vs. Friends
Fan Pages can have an unlimited number of fans. Profiles can only have 5,000 friends.

One profile – many Fan Pages
You can have multiple fan pages, but only one personal profile. This is important for people who want to promote different businesses or groups.

Just looking at the page for the new migration tool, Facebook makes this point clear, but the site isn’t explicit about what this actually means.

Here is what converting a page actually means, in terms of user content:

Only your profile photo transfers, no other profile photos or intricate profile information carries over.
Any uploaded photos, wall posts, comments and likes disappear.
Facebook messages disappear.
Any applications linked to a Facebook account lose that connection.
The username you have on your profile may or may not transfer over. In my case, it didn’t, and now http://www.facebook.com/airlinecio serves up a big fat, not found page, rather than my profile. The kicker? The name has been “used” so I can’t claim it again.
The resulting account is known as a Business Account and can only be used to create and manage pages, not to engage in personal contact. This means that even if you do create a brand new Facebook profile, you have to consistently switch between the two accounts for different tasks.
I understood that I would lose photos, wall posts and messages. What I didn’t anticipate was the loss of my username (a name I had to fight to get in the great Facebook Username Race of 2009) and that any applications associated with my account (including games) would now have major issues working.

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