Franchise business model has simplified the business process. Its never easy to build a brand and find customers to sell it. Since franchisees are not involved in brand building, manufacturing, sourcing etc activities risk is considered to be lesser in a franchise business. However it is important for a franchisee to do a proper market study before deciding on niche product and market he would like to purchase a franchise.
Below factors must be considered while selecting franchise business:
- Demographic status of the area
- Target customers
- Source of income
- Monthly average income
- Monthly average expenditure
- Niche product in the category
Below are advantages of franchise business:
- Less effort to run the business
- One time investment
- Franchisee does not need to do marketing, advertising and promotions as it is planned and organized by the franchiser.
- Brand’s success story is franchisee’s success story
- For any non-compliance or political or legal issues franchisee is not directly responsible.
- Franchiser is responsible for product range planning and supply chain.
Below are disadvantages of franchise business:
- Most of the brands charge high security deposit hence to start a franchise business a big investment is required.
- ROI and profit may take longer time.
- Failure of the brand leads to failure of the franchisee hence there is risk in this business.
- Number of competitors is high, both small shops and equal level brands.
- Franchisee needs to depend on brand for their upcoming plan. Sometimes it may not be as per Franchisee’s choice or market demands. This may cause sales loss.
Below are categories of Franchise businesses in India:
Convenience of grocery shopping and niche product based on regional demography is key for the success of super market or hypermarket across all cities.
Find the best grocery store or Super market or hypermarket franchise opportunities in India or a Kirana shop franchise. A few of the brands business seekers can look at is a Reliance supermarket franchise, hyper supermarket franchise or look at a general store franchise in India.
“Ayurveda”, an ancient treatment method from India has created a great significance in people’s life. Whether it be beauty products or treatment for diseases with no side effects easy access to the medicine makes it special.
It offers a huge diversity of Ayurveda therapies, medicines and treatments & information to its customers. Ayurveda can treat many diseases concerning about digestive disorders, beauty and wellness, infection and chronic diseases.
To name a few, Dabur, Vaidhyanath, Patanjali, Ayurshop etc are leading companies for Ayurveda in India.
Local food is global now. Everyone wants mix it up with dishes from different states or countries. Recipes are no more secret to taste buds, as we all have access to food from other regions.
Owning a popular brand for example fried chicken, grilled chicken, burger or pizza restaurant can be interesting and good profit making business.
Brands bring the concept of franchised retail store for the expansion of their business. Retailing is a vast are which can be classified as below:
- Clothing or apparel store
- Jewelry store
- Accessories store
- Footwear store
- Cosmetics store
- Personal care store
- Electronic gadgets store
When it comes to milk and its product basic dairy products is everyone’s daily need whereas processed products like ice-cream is a separate category. Ice-cream consumed as dessert or normally is in high demand product.
There are many domestic and international brands for ice-cream whereas semi-processed dairy products like milk, curd, cheese, paneer have many local and national brands.
Business of clothing brands is growing fast with the expansion of cities and new shopping malls or markets. Awareness of brands and fashion trends attracts customers which results in good sales.
Owning a franchise for a suitable clothing brand is one of the best idea.
Retail jewelry store
Jewelley in india has been one of the most precious item specially for ladies. Many companies have opened Jewellery brands in past few years.
Brand and assurance for the quality of product is best choice for customers.
Healthcare and Diagnostic Centre
Doctors or hospitals cant treat their patients unless the problem can be diagnosed. There are many certified labs with franchise business option.
If you have degree in Pharmacy then pharmacy business is one of the most suitable franchise business.
Salon and Parlour
Salon and parlours are need of every person. The best part is these are less investment and good returns.
Today’s time demands not just your career and social appearance but also how you carry yourself. If you are the one who is careful and attentive regarding your look and personal care, then visiting a salon would be a part of your lifestyle.
Gift and Decoration Store
Who doesn’t love a giving and receiving gifts? Everyone wants to their loved ones with smile and gift is one of the best medium for it. Its become a a trend to gift on special occasions like birthday, anniversary, festival, special day like Women’s day, Mother’s day, Valentine’s day etc.
While there are many brand names owning a shop with good merchandise varieties can attract many customers.
Automobile service center
With increasing number of cars in cities and small towns automobile spas and service centers is increasing. To start with it may require bigger area for parking and workshop area.
With one time investment it can be good profit making business. All you need to do is be choosy regarding company specific or multi-brand service center.
Furniture are basic need of home and lifestyle. They dont only serve the purpose but also are part of interior decoration. Good designs and quality make them special.
Electronics are basic need of our lifestyle today. We cant imagine life without a smartphone or television or laptop. There are many appliances which makes our life easy.
In franchise business whether its owning a mobile store or laptop store or appliances store due to high demand is a great business opportunity specially in developing areas.
Do you remember Flipkart started its online business with book store and first product ever sold on the website was a book. In our life books have played very important life. Books have provided us education, knowledge, and have also entertained us.
I remember there were days we used to visit public library and read books for hours. Due to easy access of books online book store has become less popular however with innovative ideas like cafe combined with book store can be unique idea to attract people.
Sports store is category where very less competition can be seen. Opening a store in your area with collection of workout materials, sports items, gaming gadgets can be a unique business idea.
Workouts has become necessary part of our lifestyle. Whether it is to keep us healthy or good looking gym and trainers are one of the most busy places in the morning and evening.
Owning a reputed gym with good trainers should be your recipe to succeed in this business.
Yoga is a physical, mental and spiritual practice which originated in India. We have seen the popularity of yoga ever since ‘International Yoga day’ was announced by the PM of India during United Nations General Assembly in 2014. Yoga centers are viral across the world.
Key point of yoga center is learning the yoga with yoga guru before it can be practiced to people.
Coaching centers have been crucial place for students whether it is for their curriculum or preparing for competitions. Many innovations have come in this area like teaching babies & kids. Also training centers for profession is an addition to the coaching center business.
With high demand of parcel transferring from one city to another for businesses like e-commerce or personal goods or gifts courier services have bridged the gap of distance.
As online business is growing fast courier service would be key for their success. Opening a courier service depending on existence of available services in your area can be a unique idea.