Franchising for India is comparatively new but already it is into its 3rd decade. If I remember correctly McDonald’s may be one of the early birds in this field. Franchising will help the main business to expand fast in all countries without any financial commitment. The franchisee will have much scope to earn money and he or she can mange the business to suit local conditions.
Franchising in the world dates back to around the 1850s when one businessman of the time made improvements to an existing model of the sewing machine and wanted to increase the distribution of his sewing machines. This was among the first franchising efforts in the United States. A later example of franchising was successful franchising of Coca-Cola then, franchising has come a long way. International brands like Domino’s pizza, Pizza Hut, Subway, West Side, and Barista have given out franchisees in order to conduct business easily all over the world. Today, franchising works best for those businesses which have geographic appeal are relatively easy and inexpensive to operate and which are built around a new and unique concept.
India has come a long way from the traditional method of conducting business. Since early 90s there has been a big change in the way business is handled here. In the past decade international brands in various sectors like KFC, McDonald’s, Holiday Inn, Gold’s Gym, Marks & Spencer and others have transformed the business trends in India. It is thanks to these brands today that International franchising is one of the most exciting areas in the franchise industry. Sectors like Retail, Food and Beverage, education, Health, beauty, Tourism and many other services are booming in the Indian franchise market. It has been predicted that introduction and penetration of new technologies will create new opportunities for franchises. All these market conditions, combined with the low rate of franchise failure and significant return on investment, have made franchising a major strength in current Indian economy. Along with this, many Indian brands are making headway throughout the world in sectors like Ayurveda. The future of franchising in India is highly promising.
Since its beginning in the early 90s, the franchise industry has grown more than expected by franchisors, in the Indian subcontinent and there is much more to explore. According to reports for the past five years the Indian franchise market has recorded a steady growth of 30 to 35% per annum. Also, the annual turnover of the Indian franchise industry to 3.3 billion USD and is projected to soar higher in the coming years. There are four fast growing sectors in Indian Franchising namely, Telecom, Retail, Food and Education. In the Indian Telecom Sector there has been a wave of expansion in every Indian telecom company. Telecom franchises have come up in India and they are projected to thrive well with the reports of user numbers touching 250 million by the end of 2007 and 500 million by the end of the year 2010. The franchise business in India and internationally is definitely booming. An effort to tap into the potential prospects offered by this sector is a corporate group’s initiative of promoting Franchise Expo at different Metro cities in India. Putting forth the right platform for entrepreneurs, SMEs, franchisees, franchisors, financial institutions and public to interact with each other and explore latent franchising avenues.
A .com company is conducting Free FranClinics on How to Franchise Your Existing Business. Learn why you must Franchise and Expand Your Business Systemically. There are also Franchise Development Experts with over a Decade of Franchising Experience having serviced over few hundreds of clients with Franchise Strategy, Franchise Manuals, Franchise Agreement, Franchise Marketing, and Recruitment of franchisees across India/ Globally.
Another .com company connects Entrepreneurs with a few thousand new business opportunities. Franchise expos are meant to seek franchisees in all cities of India. The intended Franchisee will have to arrange 300 Sq. Ft Exclusive Commercial Office Space and invest 3-4 lakhs. Franchisors will train these Franchisees to become a Franchise Business Coach who’d service 100’s of Entrepreneurs coming to franchisebazar.com everyday while you become our brand ambassador.
Entrepreneurs seeking new Businesses or Business Owners who want to expand their Existing Business must visit the Franchise Expo to Meet the Franchise Experts for free.