If you are interested in buying a franchise or enthusiastic to expand business through franchising, it is essential to find an excellent franchise consultants that guides you in every single step. Now the question arises how to find a professional who deeply understand your business requirements and produce effective results in minimum time period. Working with expert is extremely significant because fierce competition is already in market. In addition, not all consultants will be suited best for particular job, you need to focus on your business strategies and then hire any consultant. At present there are numerous companies running in market which are providing 360 degree solutions. Here are few skills:
- Optimal communication: A knowledgeable professional must have outstanding communication skills. Franchise sector is high competitive, you hire consultant who can convince anyone about your business.
- Industry experience: A proficient consultant should handle challenges and uncertainties that your company facing and have ability to provide best solutions without any difficulty. Connect Franchise is providing magnificent services, have large network of channel partners in various locations all over the nation.
- Resource knowledge: In this digital technology era, franchise consultants must know about latest technology trends and advancements. For example, digital marketing, SEO and SMO are tools which are essential to promote website, products or services.
- Self-motivated: Enthusiastic, adroit and skilled broker will always profitable for business. Buying and selling of franchise business is gradually increasing hence a passionate consultant will be best.
Franchise industry is diverse around 300 categories available for business purpose. If you want to become market leader then take advantage of opportunities provided by Connect Franchise. The company is successfully running, committed for effective services to both franchisee and franchisor. It goes without saying that you need to search experience consultant who can help your business to grow.
India is one of the diverse nations; industrial sector is pacing due to number of franchise establishments in past few years. Noticeable changes have been observed in economic condition, for example standard of living improved in metros, tier 1, 2 and 3 cities and government is also encouraging domestic as well as global entrepreneurs to invest in local markets. Franchise business sector is contributing largely towards economy of the nation, at present approx. 3 million employment opportunities generated and is estimated that in coming years there will be more business options available for small pocket entrepreneurs. Owning a money-making franchise is an entrepreneurs dream but due to stiff competition inexperience contenders unable to stay in market for longer time. Overall before investing in any franchise categories few things should be considered like: brand value, profit margins, future strategies of brand, services, breakeven point, etc.
Connect franchise is adroit franchise consulting firm which has done fantastic work to bring best brands in sectors: food & beverage, entertainment, jewelry, automobile, etc. Indian brands are growing at rapid rate, boosting employment and export of local products to new markets all over the world. Many of the categories are available but few of them are evergreen:
- Food & beverage: Day-by-day Indian population is enhancing, consumer spending are positive for franchise establishments. Food and beverage franchise segment is always fruitful, there are number of brands that offer magnificent support to franchisee.
- Retail: It is also a top category for investment. Retail sector is a multibillion dollar and is projected to generate lots of business opportunities in next five years.
Automobile: Increasing demand for automobiles over past few years is beneficial for Indian economy. Doors of new business have been opened, local and global brands are entering in Indian marketplace through franchising route.
Food and beverage industry is full of uncertainties and is also sensitive because it influences daily routine activities of all species including human being on the planet. Significant development has been observed in service industry, consumer megatrends play huge role in shaping forthcoming prospect of food industry. F&B companies must focus on factors: constant innovations, high quality services and product, maximum efficiency, operational flexibility to make more and more customer happy and satisfied. Due to stiff competition, companies are looking to make everything automated so that production and profitability can be increased. Nutritious food demand, better packaging, etc. are driving factors which affect progress of industry. F &B sector is adaptive to franchise model as it is cost-effective method, small and large pockets entrepreneurs can easily expand business with help from franchise consulting organizations.
Franchise consultants are key professionals who have knowledge of basic concepts, metrics and plans which will be helpful to grow trade through franchising route. Food and beverage sector is dynamically changing owing to steady nurture of food franchise model, in fact, at present every brand after successful initial years start thinking to franchise it. If you are considering consultants, Connect Franchise is ideal platform to connect with popular brands in various categories. SMEs (small and medium size enterprises) are taking most advantage of franchise model to reach maximum people. Furthermore franchising is best way to create brand awareness and value by investing few amounts.
In India, franchise industry is burgeoning several international brands are penetrating local markets; tier 1 and tier 2 cities, metros are major targeting locations over past few years. But technological advancements has changed whole market scenario people in semi-urban and rural areas are aware about franchise, thus enormous business opportunities are creating across the nation in future as well. F & B is best category for investment purpose.
Franchising is not an unfamiliar model; it is one of the most effective methods of doing business. In India, it is convenient to pursue career in franchise industry because government did not impose any specific law. The way Indian landscape is geographically and culturally divided there is no alternative model which can be as scaling and comprehensive as franchising. Several popular brands in different sectors have successfully established across vast landscape of India and are also influencing other players. As per reports, franchise business would be profitable in tier 2 and tier 3 cities and towns because franchisor get local entrepreneurs to communicate with native people. In Initial stage there would have been challenges to pace with current market trends.
Indian Franchise Association is closely monitoring growth & future perspective of business. Women entrepreneurs are also participating in franchise growth, there are number of sectors like education & training, entertainment, food, etc. are getting popular. In addition, segments like beauty & salon, fashion, fitness are increasingly expanding as women entrepreneurs showing great interest. Furthermore, it is FoFo model (franchise owned –franchise operated) or a CoFo (company owned – franchise operated). Apart from this, master, single unit, multiple unit and hybrid are franchise formats. It is estimated that industry would grow around 35 % in forthcoming year which is today aprox. US $ 8 billion. Key parameter that should be focused during franchise agreements:
- Financial resources – Some companies provide assistance to franchisee for funds and has tie up with financial institutions. But it is significant to check all finance.
- Technical support – In this competitive age it would be essential to focus on automation. Now-a-days organizations use machines to serve customer quickly and effectively.
- Brand value – Popular brand would be boon, do systematic research as well as ask franchisor for details like ROI, breakeven, etc.
Franchise business model is significant to expand small scale enterprises in competitive marketplace. In India, franchising is basically used to enlarge foodservice business that means several domestic brands have focused on it. Entrepreneurs new to business should invest in franchise because:
Training & marketing: Franchisee will get complete training & marketing support from franchisor. During initial stage some companies also assist in location search also. Domestic brands like Chatar patar foods Pvt. Ltd. is providing effective franchise opportunities and also offers valuable services.
Flexible model: Franchising route is easy for anybody who wants to start own business. It is also taken as extra source of income as well. Competition is high but still some brands provide high profit margins.
India is best destination for investment, at present there are numbers of brand that offer lucrative services as well as opportunities to franchisee to work independently. Connect Franchise is proficient business consulting organization that offer services like lead generation, digital marketing, sales & marketing, customer service and investo match. To add more, small, medium and large companies are using emphasizing on digital technologies to boost sales. Entrepreneurs these days use franchise model to grow existed business in different geographic locations. In addition, digital marketing strategies are increasingly used by companies to create brand awareness and value. Franchise categories like education & training, entertainment, jewellery, food & beverage, etc. are estimated to grow at rapid rate due to needs and demands of consumers. Furthermore, Indian government do not implement any specific laws for franchising. It is the only reason behind massive growth of global brands in local markets. Connect Franchise is best service provider, it is helping investors and brands efficiently, act as mediator to bride gap. In this fast changing global business environment franchising is cost-effective model and existing business can be easily replicated.
The number of establishments, employment and revenue generation in franchise industry is steadily increasing and at present scenario size and market growth is appreciable. That means every year business opportunities has been increased and new categories like home services, professional services, automotive and entertainment gain popularity. During initial stage there were only food franchise brands in India but as of 2017, accelerating entry of brands in different sectors has been observed. Lots of people depend on franchise industry for employment, for instance in India millions of job created through food franchise brands.
List of categories growing exponentially
Food and beverage: No doubt people are spending huge amount on food and beverage items. Furthermore, demand of ready-to-eat foods such as burgers, pizzas and French fries gone high these days, international and domestic players are focusing mainly on franchising route in order to create brand awareness.
Entertainment: Steady development in entertainment has created lots of franchise business opportunities, for example, video games, kids’ zone, etc. franchises are available for sale in Indian markets. Apart from this, low investment models are offering by brands. Connect Franchise is leading online portal where you can find lots of entertainment franchise.
Jewellery: In past few years, gems & jewellery sector has shown unprecedented growth and scrumptious market value. At present number of brand in organized format offer high profit margins franchise opportunities.
Education & training: tremendous business options exist in education & training franchise sector. You can start play school, training institute, college, etc. It is one of the fastest growing sectors and Indian government is also paying attention for quality education.
Retail: Drastic changes in consumption pattern have resulted in development of online and physical retail stores. It goes without saying that competition is high but at the same time lots of opportunities will be generated due to consumer demands.
Retail franchise sector is boosting due to rapid participation of domestic and global brands, revenue generated from offline and online retail is estimated to grow around 7 to 8% by 2021. Metros, tier 1, tier 2 and tier 3 cities in India are developing steadily, people are focusing mainly on starting own business. As a small business owner, you might face lots of problems to successful run retail business because of stiff competition. However, every entrepreneur or business owner willing to grow and expand, here are few strategies that should be taken into consideration:
Conduct market research: It is necessary as consumption pattern may change at any point of time. Most companies conduct market research to know what customers think about products or services. Companies are concentrating on online surveys and questionnaires to collect valuable information from customers. All research should be done on basis of demographic profile of customers.
Segment your area of business: In this stiff competition, you need to emphasize on specific segment of market to beat competitors. Retail franchise is so vast, but drastic changes in technology have increased competition as well. Thus in order to enhance business a proper strategy would be required to divide target market into different sections.
E-commerce: Retail franchise business is high competitive due to emerging E-commerce platform. Mobile technology is contributing largely towards growth and development, people these spend time on online shopping. Small scale retailers face problems while moving in major metros so they are using online platform to reach customers on global and national platform.
Locations: Stores should be opened in locations such as malls, entertainment venues. Small and medium size enterprises need to focus on product diversification so that consumers in new markets can be satisfied. Location is most significant things that play crucial role in success of retail franchise business.