We all want to be successful. No one disagrees with that, I’m sure. In the business world that means reaching a core audience and serving their needs. You can start your own business, or you can partner with an existing business in some capacity, or you can buy into a franchise.

You’ll never find a business proposition free from risks, but franchising offers a number of compelling benefits:

1. Built-In Branding

Winning over a loyal group of customers may be the toughest part of building your business. With a franchise, your branding is done for you. You come into the game with the branding already established. That’s not necessarily a positive thing—since the branding could be seen in a negative light—but many franchises have great reputations, and if you do your research, you can take advantage of the built-in name recognition and appeal of an established franchise.

2. Streamlined Operations

An established franchise has established a streamlined operation. They supply business layouts, computer systems, and suppliers to make sure that you (and they) succeed. You can learn from previous mistakes without actually having to go through them yourself. There’s a reason they set up their kitchens in the way they do, or use the materials that they use: they work, and they work well.

3. Support & Security

It’s no secret that franchising isn’t cheap; however, starting your own business isn’t any cheaper when you consider how much extra money you’d be funneling into marketing campaigns and streamlining operations. And when you approach the bank to get a loan, you’re much more likely to receive a loan if you’ve come to them with a proven business plan—which you’ll have through the franchise. Moreover, because the franchising company wants you (and their brand) to succeed, they’re happy to help you with your accounts and the day to day operations of running your business (from fixing a glitch in the computer system to hiring new employees).

4. Training Systems

Along with having figured out a streamlined method of delivering their product to consumers, successful franchises have figured out how to transmit that knowledge to you and your employees. They’re only too happy to come in and train your employees on the way they do things. They’ll also, as new marketing campaigns roll out, come out to train you and your employees on new methods and opportunities.

5. Marketing

Marketing campaigns aren’t easy to handle on your own, and if you had to figure it out on your own, you’d likely struggle. Franchising gives you access to established and proven advertising and marketing campaigns. You essentially gain free advertising for your business based on all the campaign work the company has done in the past, and you continue to gain the benefits of all the franchises large-scale marketing campaigns.

A Word of Caution

Just because it’s a franchise doesn’t mean it’s good for you. You have to make sure that the location is right, for once (although the franchise will likely discourage you, or outright prevent you, from building in a poor location—say, one to near another franchise location). There will be ongoing costs to participating in your franchising program, so perhaps the best way to figure out if a franchise is right for you is to meet with other franchisees. They’ll be able to tell you what works for them and what could use a few kinks fixed.