The franchise business model has simplified the business process. It’s 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 a 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 the advantages of franchise business:
- Less effort to run the business
- One time investment
- A 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, the franchisee is not directly responsible.
- The franchiser is responsible for product range planning and supply chain.
Below are disadvantages of franchise business:
- Most of the brands charge high-security deposits hence to start a franchise business a big investment is required.
- ROI and profit may take a longer time.
- Failure of the brand leads to failure of the franchisee hence there is risk in this business.
- The 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:
The convenience of grocery shopping and niche product based on regional demography is key for the success of supermarkets or hypermarkets across all cities.
Find the best grocery store or Supermarket 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.
2. Ayurvedic store
“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 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 to have variations, dishes from different states or countries rae no more local food. 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 a good profit-making business.
5. Retail stores
Brands bring the concept of franchised retail stores for the expansion of their business. Retailing is a vast area which can be classified as below:
- Clothing or apparel store
- Jewelry store
- Accessories store
- Footwear store
- Cosmetics store
- Personal care store
- Electronic gadgets store
6. Dairy products
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 a 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.
The 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 ideas.
8. Retail jewelry store
Jewelry in India has been one of the most precious items, especially for ladies. Many companies have opened Jewellery brands in the past few years.
Brand and assurance for the quality of the product is the best choice for customers.
9. 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 options.
If you have a degree in Pharmacy then the pharmacy business is one of the most suitable franchise businesses.
10. Salon and Parlour
Salons and parlors are the need of every person. The best part is there are fewer investments 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.
11. Gift and Decoration Store
Who doesn’t love giving and receiving gifts? Everyone wants to their loved ones with a smile and a gift is one of the best mediums for it. Its become a trend to gift on special occasions like birthdays, anniversaries, festivals, a 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.
12. Automobile service center
With an increasing number of cars in cities and small towns, automobile spas and service centers are increasing. To start with it may require a bigger area for parking and a workshop area.
With one time investment, it can be a good profit-making business. All you need to do is be choosy regarding company-specific or multi-brand service centers.
13. Furniture store
Furniture is the basic need of home and lifestyle. They don’t only serve the purpose but also are part of interior decoration. Good designs and quality make them special.
14. Electronic store
Electronics are the basic need of our lifestyle today. We can’t imagine life without a smartphone or television or laptop. There are many appliances which make our life easy.
In a franchise business, whether it’s owning a mobile store or laptop store or appliances store due to high demand is a great business opportunity especially in developing areas.
15. Book store
Do you remember Flipkart started its online business with a book store and the first product ever sold on the website was a book? In our life books have played a very important life. Books have provided us education, knowledge, and have also entertained us.
I remember there were days we used to visit the public libraries 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 a unique idea to attract people.
16. Sports store
Sports store is a category where very little competition can be seen. Opening a store in your area with a collection of workout materials, sports items, gaming gadgets can be a unique business idea.
Workouts have become a necessary part of our lifestyle. Whether it is to keep us healthy or good looking gym and trainers are one of the busiest places in the morning and evening.
Owning a reputed gym with good trainers should be your recipe to succeed in this business.
18. Yoga center
Yoga is a physical, mental, and spiritual practice that 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.
The key point of the yoga center is learning yoga with a yoga guru before it can be practiced to people.
19. Coaching center
Coaching centers have been crucial places 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 the profession are an addition to the coaching center business.
20. Courier service
With the high demand for 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 the existence of available services in your area can be a unique idea.
Hope the top 20 franchise business opportunities in India can inspire you to start your own franchise business and become an entrepreneur. Please leave feedback and suggestions in the below comment section.