Me and 3-5 other individuals will be forming a group together to own a series of businesses and franchises over time. It involves a process of setting up, maintaining, then moving on to start another. It would be that our small group of people, would get the excess profit or % from establishing those businesses. All the financing parts wouldn't be in our name, so that in case of a big loss, it doesn't kill each of our personal financial status. Then eventually becoming investors. I know that its based on the state, and etc. but what would that be classified as? a Partnership of course, but is it a LP, LLP, or a LLLP?
just incase someone forgot, LP is a limited partnership, LLP is a Limited Liability Partnership, and a LLLP is a Limited Liability Limited Partnership
well, holding companies involve stocks and all that. We are more about starting and owning many business and franchises without the liability and such. We would be the "supervisors" of what we created.

That is something you should talk to your fellow partners about. Who will be the General Partner? Who will be in charge of what?

What you described could also be a Holding Company. Consult with an attorney and figure all this out.