Franchising can be a lucrative — and lower-risk — option for entrepreneurs planning their next move.

1. Ready for ownership, but seeking guidance

Owning a business is a serious undertaking, with a lot to learn and not a lot of room for trial and error. You might be ready to give ownership a shot, but you’ll also be seeking some guidance when you take the plunge. With franchising, you insert yourself into a scenario where you’ll have all the help you need.

2) Interested in ownership, but want the turnkey option

There are turnkey franchises that make it easier for people with skills to run a business. Basically, you bring the business experience, and the franchisor provides the building and equipment for you. Your initial investment provides everything you need.

3. Wanting ownership with growth opportunity

If you become a successful franchisee, there’s little holding you back from expanding to a second ownership position with the same organization. This provides something to work toward other than stability; you can push yourself beyond your limits to own and manage not one, but two, franchises, which is a testament to your drive as an entrepreneur.

Source Credit: Forbes