The community derives its name from Nathan and Daniel Morgan Boone, who were the sons of Daniel Boone and established their salt business near the community in the early 1800s, delivering their product from salt licks to St. Louis. The area has been called "Boone's Lick" and the route from the lick to St. Charles/St. Louis, Missouri is called the Boone's Lick Trail. The eastern terminus near Boonville at Franklin, Missouri is considered the original start of the Santa Fe Trail.