In India, whether you are in a metropolitan city or smaller town, a quick look around the active markets will give you a sense of the presence of frequent brands all around from heading to the nearest domino’s or KFC for a bite or for shopping with brands like Levi’s, Lee, the major part is of the masses who helped to franchise to rise substantially in recent years. With a population of more than 1.3 billion, India has become the third-largest consumer market. India has a huge potential market for international brands, as well as for in-house entrepreneurs.
Moreover, India offers immense opportunities for franchisors, according to an estimate, almost 35% of all franchise buyers are first-timers in business. While earlier franchising was mainly done by people who were already doing some business, franchise opportunities currently act as a gateway for new ones. India is not uncalled for when compared against industry estimates that 90% percent of Indian start-ups fail within 5 years from lack of mentorship and structure; whereas the success rate is 85% Indeed franchising is a one-way country can fight the issue of economic disparity, besides franchising is also o a great way to encourage self-employment, a single franchise store employs between 5-30 people. So it’s not wrong to add that the franchising business is boosting year by year, which makes it easier for the franchisers in India to create a platform for productivity. India offers massive potential for foreign investors or franchisors who wants to tailor their brand to fit into the country’s dynamic consumer market. The huge market of the country has created space for different franchises to outgrow and make a name. Franchising fits well in India’s current growth of urbanization, hubs for franchises have blossomed in the country’s metropolises and even in tier-II and even tier-III cities, the foreign brands that tailor their products into regional tastes to grow consumer demand and enhance productivity.
For example:
Domino’s Pizza- first opened its outlet in Delhi in, 1996 but within this time, the company has boosted with over 1000 franchises across the country- the largest number of outlets outside its home country the U.S.
Re-max- the largest network of Indian real estate brokers, is setting records with 200 offices and the presence in 46 cities in the country, which makes the residents grow it more and more.
Additionally, brands from Asia/Africa and china regions and many others as well have been encouragingly entering into the Indian market to promote their brands as like mobile phone brands from china like- Xiao, Huawei, Oppose, Maize. We are hoping to see more services-based formats like education, healthcare from these countries to India.
There are many sectors in the franchising industry that are flourishing in India to a great extent, giving opportunities to the newbies but from them, some are blooming steadily like retail service, health service, and food and beverages. let’s check out
RETAIL
The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the urbanization and the consumption of the sector in the country, which is expected to double in the coming years. The retail franchise has helped the domestic franchisers to grow their business which has gained a lot of success of brands in a short span of time, like the titan expansion in a short time have gained popularity and helped the company to become one of the largest specialty retailers in the country.
FOOD AND BEVERAGES
This one is another sector that dominates the Indian franchising industry in the country. One-third of food outlets in India are established through franchise systems. Service-centric restaurants and fast-food outlets are the most widespread. By 2022 it is estimated that the food and beverage industry will double its workforce, providing profuse employment within India.
HEALTH SERVICE
With decreasing environmental conditions and an increase in the number of diseases in India, the people of the country have become more and more conscious when it comes to their health. Hence giving a golden chance to the brands to set them. India offers vast opportunities for franchisors in the health industry, all because of the growing entrepreneurial skills in its people. Franchise helps health sector in various points like doorstep service, expansion of services, and etc., cost reduction providing the people great facilities with good exposure of brands.
India is already the second-largest franchise market in the world after the United States of America with 4,600 active franchisors and nearly 200,000 outlets that are functional and successfully running by almost 170,000 franchisees. Marketers also believe that despite the boom in the franchising industry India has still potential marketing traits that mean that the sector is set to grow even faster in the coming years. Nevertheless, it’s for the one who has the zeal and zest to make a big one in this industry. So if you think you CAN and have the potential then don’t let the CAN’T’S shrunk you. Grab the opportunity and outshine your skills as never been.