Franchising - The biggest untapped market in India

Franchising Business - The biggest untapped market in India

Franchising has a great potential in the Indian markets. It is anticipated to grow at an yearly rate of 30 percent and much more than that. An extra 11bn jobs will be generated as this segment develops gradually. The franchise business is an extension of an existing successful business. It has been implemented in the same way that the parent business works.The relationship between the owner and the seller is the contract. There are many common examples of franchise business around us. In a country like ours, there is no shortage of great minds. Great minds which are knowledgeable, future centric and street smart to say the least. With globalization and liberalization, we have witnessed an appreciable surge in entrepreneurship via franchising. Brand awareness and a huge consumer market makes India the ideal place for franchising. According to report there has been increased consumption and also a great liking for branded items and also worldwide recognition. The utilization of brands is an ever increasing demand. The population of India is more than 250 million. The retail sales are more by 10 percent every year till the year 2020. There are some top most prospects for franchising business and they are food, health, education and retail. A great deal of potential may be there in clothing, tourism and travel and also financial and business services. Franchising business is a staple of the American business landscape.Coca-Cola was able to expand throughout the United States by shifting the burden of manufacturing, storing and distributing its product to local business people who acquired bottling right. Brands like McDonalds and Burger King are prime examples of the benefits of franchising. The merits of franchising has spread across boundaries and has now spread its wings across Asian boundaries in countries like Japan, China and now India. Major franchises have spread businesses in India. They realize the potential in our market. Due to our large population, we will always be an everlasting market. People are very aware of the type of products they want to buy. An established brand name can earn great profits as the major source of marketing the product are the people themselves.

Important Points to remember:

• The franchisee should be aware of the fact that has not purchased rights of the franchisor's products, but he / she already owns rights to use successful brand names to sell the products of the franchisor.
• The procedures for the provincial trading system will remain the same.
• There are few Procedures involved in the process like uniforms, price etc. Everything is same in the real business model.
• To be more clear about the purchase of the franchise, or to finalize the decision, you can get in touch with a professional organization who deals with these types things.

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