Buying a franchising is notably as per your own interest area or business category will be beneficial. Investing in popular franchise model means you will eligible to sell company’s products or service that customers trust and value. You can easily get wide-ranging franchise brands for variety of services in any field. Vending machine franchises are one the small businesses to earn huge profits. Everyone whether children, adolescents, middle or old-age people likely to purchase favourite snacks from vending machines. A vending machine franchises business concept is quite unique and can be started within little investment. In a fast-changing lifestyle people looking for quick services without any complication, vending machine set up in traffic areas like railways platforms, malls, and amusement park are great advantage to serve society.
Vending machines is basically a programmed system that provides products like beverage, snacks, tickets, etc. to consumers after money, debit or credit cards inserted into machines. In some countries products like chocolate, matches, cigarette, soap, chewing gum, drink water bottles of pouches, newspapers, book, pizza, etc. New technologies are significantly contributing for developing smart vending machines. Advanced internet network, various types of sensors, digital touch play, identification system like RFID and embedded system are latest innovations in this type of business models. New operators utilized all these concepts to create attractive machines, reducing operating costs while enhancing user experience. Entry of large brands has transformed purchasing trends, now all essential daily routines products are sold through vending establishments.
In vending machines concept is still not developed but market will be boosted due to increasing population, changing lifestyle and consumption pattern. Franchising opportunities are also limited as companies didn’t step up large number of machines network. It is expected that Indian marketplace will be delighted as well as stimulates the demand for vending machines in coming future.
Healthcare is so vast comprises hospitals, clinical equipments and methodology, health insurance and medical facilities. Over past few years it is observed that increasing population required high-quality healthcare services. Both private and government based healthcare centres are available but growth of private sector is gradually increased provide majority of highly equipped medical facilities. However, medical tourism or health tourism is popular now-a-days, researchers from various countries travel across borders to gain essential knowledge about new ways of healthcare. Near about all developing and developed economies identified medical tourism as best way to overcome dangerous diseases. Several healthcare service provider offer franchise opportunities, for example, in India Apollo hospitals group emerged as one of the biggest healthcare chain. Franchising in healthcare sector is difficult to apply but some players have made it easy and simple. Healthcare franchise is still in nascent stage, both national as well as global brands are looking to penetrate huge Indian marketplace.
IT support is seamless for healthcare industry growth and development; franchisor can monitor franchisee activities through various clinic management software solutions. Franchisee had to undergone intense training programmed to aware them about needs and wants of healthcare system is specific city or region. Broadly speaking there are challenges observed by potential franchisor in healthcare because sometime franchisee don’t follow standard procedures. Overall idea of healthcare franchise is to give better care for patients. Indian government is also contributing a lot towards healthcare system; number of central government based facilities is created to offer free or low cost medical services. O the other hand private sector is booming due to providing quick and quality services to customers. The industry also employed approx. 5 million people throughout the country, become favourite sector to invest on. In India there is remarkable untapped business opportunities created, however rise of biotechnology and advancement in medical facilities will definitely work positively for healthcare industry.
FY 2014-15 reports had suggested that logistic industry was worth US $ 200 billion (approximate), grown at an annual rate of 20 percent over last few years. Imports and exports activities within India and with foreign countries drastically changed, air, rail, road and ship transport respectively grew at rapid rate in order to supply goods or services. Sectors like automobile, food and beverage, retail, pharmaceutical and clothing largely depend on logistics sector to transfer goods from place to another. Logistics services providers take advantage of online platform to deliver better services. For example, Cogoport is perfect example of online logistics marketplace, offer ship and air route services. Logistics industry is mainstay of Indian economy; various commercial sectors generate huge revenues due to effective distribution channel for goods. Despite economic downturn, industry consistently witnessed unprecedented growth, e-commerce logistics sector is increasing day-by-day. With promising growth rate, new players want to use business model of established operators. Franchising is only option left to expand business; logistic franchise business model is one of the emerging business opportunities these days.
Government initiatives to improve integrated logistics are expected to work positively for the industry, moreover multi-model logistic parks (MMLP) nearby manufacturing centres is developed to help companies. As per present scenario, logistic organizations utilized technology to enhance commercial operations, integrated IT solutions are used to reduce costs. Now it becomes possible to track order through online applications, e-commerce giants like filpKart, Amazon and EBay mainly demand on supply chain management system to deliver best services. Thus e-commerce retail platform has transformed whole logistics industry. Services provider offer franchise business opportunities, entrepreneurs who want to become part of logistic industry should focus on franchise business model. Governmental policies are expected to fuel fast-growing industry, SME sector is largely depend on logistic industry to generate revenues. Looking into present condition future is bright for industry.
It is quite difficult to build a platform to expand franchise business sector but Connect franchise, leading firm in this context has done tremendous research to bring latest trends and opportunities for its clients. The franchise industry in India valued approximate US $ 30 billion and is expected to touch US $ 50 billion within two or three years. Emerging technologies enforce franchise consulting companies to develop more competitive products or services so that Indian franchise business sector can be shifted to global marketplace.
Connect franchise is doing amazing work since its foundation. The organization is emphasizing mainly on producing innovative business ideas or solutions to support entrepreneurs who want to become part of fast-growing business environment. The opportunity is clear for new brands in sectors like food, retail, education, etc. Massive growth has been expected in coming years due to increasing demand for international products by young generation of the country.
Officially there are 196 nations around the globe connected with UNO (United Nations organization); however industrial growth and development in these nations didn’t suppose to be equal. Developed economies like United Kingdom, Australia, USA, Russia and France have great infrastructure to support industrial development. International Franchise Business model has grown significantly over the decades, different countries have developed rules and regulations required to follow by every franchise providing company irrespective of size, revenue generation or brand value. Here we are discussing over basic laws followed by leading franchise establishment countries.
1. USA – Concept of franchising was commercially originated from USA and it remains at top position in today’s fast-paced environment as well. Individual state laws and United States federal laws are two basic set of laws imposed on franchise industry. Franchisors have to mention goods or services offered, substantial marketing plan, trademark and payment mode. Apart from this, legal documentation had to follow by both franchisee and franchisor.
2. China – By 2016 there were approximate 2000 franchise brands in various business sectors, large population and adequate resources encouraging number of global franchisor to invest in China. Basic rules including, a franchisor should own an enterprise, possess registered trademark, patent or business plan that suits Chinese economy. Global franchisor at least has two outlets outside China in operating condition under franchise business model. It is just overview of basic laws for more information you can do proper research.
3. India – Second most-populous country in the world is favourite destination for franchise establishments. Unlike USA and China, there are no specific laws regulated franchising in India. Franchise Agreement or contract relationship between franchisee and franchisor would be enforced by government.
These are leading nations where franchise establishments are more as compared to rest of economies. For more information you need to visit official government website and also asked questions to gain essential knowledge
Franchising, significantly gained popularity throughout the globe and likely to see steady growth in forthcoming years. If people had enough money they are searching for best franchise to buy or concentrating on franchise business sectors which make the most money. There are franchises that popular around the world but question is that will it really suits your area of interest or best for you. Rather just investing money did proper market research, collect information about franchise you’re looking for. Franchising model looks easy but it doesn’t mean to suit everyone. There are few checkpoints would be considered before buying a business:
- Financial stability
A well established brand in your desired business sector will be good choice. During discussion regarding franchising ask the franchisor about financial status or model. An effective revenue generation model is always easy to handle and you can figure out profits or loss as well.
- Brand value
More importantly, people always rush to places which are popular. Do proper research to know about market value of brand you’re investing on. Be realistic and don’t try to assume things on yourself.
The Franchisor is required to provide all relevant documents like operations, training manuals and licence. All commercial activities run as per governmental rules and regulations.
- Return on Investment (ROI)
After investing huge money you will expect profits as well. Simply, get to know about how much return you will get after certain time period.
- Training support
In order to know about company’s policies, products or services systematic program is crucial. Ask franchisor about training support, how long it will take to get all necessary information. A successful franchise company always trained franchisee; give them opportunity to know more about how products or services sell in market.
- Profit margin
Becoming a profitable franchisee is dream of every investor, check what profit margin is shared by franchisor.
Countries where industrial development isn’t growing well and recession will come as surprise, employment opportunities are degraded. It is essential to overcome uncertainties to empower young generation to explore new business ideas. Franchising is a proven model successfully run when economic crisis occur in country, irrespective of trouble franchise business model is always a ray of hope in the face of macroeconomic troubles. There are approximated 300 business sectors that falls under franchise business throughout the globe. The burgeoning population on the planet is matter of concern because resources available are less as compared to population growth. Franchise business is comprised of various sectors but service sector is continuously showing amazing growth rate and remains one of fast-growing sectors in today’s competitive environment.
Small business owners who still listed under unorganized market share could be shifted to organized format through franchising. Recent studies have suggested that near about 50% of companies that offer franchise have succeeded to expand business in new territories. It is proved that franchising would be act as fuel for organizations that want to achieve new heights of success. As technology is advancing, small as well as medium sized organizations have undergone infrastructural shift and try to implement modern-day equipment in commercial operations. For example, a small vendor selling clothes in particular region quite famous and large number of people visited on daily basis. Now if owner want to establish another store with same name should utilize franchise concept. In this way brand value can be created and new customer get to know about products or services. It goes without saying that franchise business sector is still in nascent stage and has shown unprecedented growth in recent time. It is expected that several business owners in small scale industry utilize franchising concept to reach new customers. Small scale businesses are pillars of economic growth and stability because number of local people gets employment from these businesses.