Why franchise business service segment is booming over past years

Why franchise business service segment is booming over past years

The business service sector includes banking, insurance, outsourcing, non-financial business, R&D, etc. Service sector in India is governed by both domestic and global factors. IT sector is likely to contribute business service sector, several IT companies offer franchise opportunity. Sub-sector in business services franchise generate whooping revenue of US $ 320 billion contribute heavily to Indian economic growth as well. At present financial services, real estates, etc. is booming sub-sector enable entrepreneurs to generate huge revenue. As per reports by Indian brand equity foundation, Indian business services sector generate employment as well new business opportunity. Specialty of service industry opportunities:
Easy access
Individuals can easily operate from home as well as from small office; only thing required is better internet service. Several IT companies from foreign countries outsourced products/services in India. You can provide services to companies through generating leads for business.
Low investment
To set up business low investment is required because you are using tested products/services. To remain competitive, organization looks to outsource business to other professionals. Young entrepreneurs looking to start new project capitalize on modern day opportunities.
Manpower
For example to start financial services business, only few employees are required. Moreover, personal management will be enough during initial set up
Competition
Barrier to entry in business sector is low because there are several options available like real estate, professional services, social and personal services, etc.
Franchise business sector is booming, show unprecedented growth in past few years. It goes without saying that various business segments contributed heavily like education, retail and food but services sector is not lagging behind. Indian population is gradually increasing may touch Chinese population. On positive note growing population will add more value to Indian industrial development because in coming years India is only country that has maximum population between age group 20 to 35.

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