Tag: franchise opportunity

Franchise Business in India: challenges & growth rate

franchise

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.
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Healthcare franchise opportunities to serve society

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.

Franchise business rules and regulations around the world

Franchise business rules and regulations around the world

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

What are the fundamental signs of a money-making franchise business?

What are the fundamental signs of a money-making franchise business?

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:

  1. 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.

  1. 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.  

  1. Documentation

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.

  1. 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.

  1. 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.

  1. Profit margin

Becoming a profitable franchisee is dream of every investor, check what profit margin is shared by franchisor.

Franchise business is source of income for so many small businesses

Franchise business is source of income for so many small businesses

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.

Give a chance to nurture your entrepreneurship skills through franchise business model

Give a chance to nurture your entrepreneurship skills through franchise business model

It is quite confusing for many individuals to left a high pay. At certain age there is number of social responsibilities that makes you thinking twice, whether to pursue your dreams or engage in daily routine life. The key to work on your dream project is to choose a business model that can be coupled with current lifestyle. One of the best options that suits is franchise business model, you can start a new business as per needs and wants. First all identify your areas of interest then select a franchise which have same mission, vision and core values you’re looking for. It is crucial to choose a right franchise partner to develop a profitable business. You should focus on various prospective such as:

  • Is the franchise business can be operated along with current job
  • Will it be profitable in future or not
  • Current market value of brand
  • What kind of support will be provided by franchisor
  • Profit margins

Whether you handle business alone or hire management team, goal and objectives should be developed so that team members’ efficiency can be measured. Franchise is tested business model of some other company, it is ready to implement format for beginning and running a business. However you can carry current job as well because franchise is provided phenomenal flexibility, all you need to do is focusing primarily on template designed by franchisor. To add more, Technological advancements has made everything easy, from managing system to payment you can easily control each section of business without physically present in franchise store. It is always a dream come true to become a boss of own business. It goes without saying that pressure and uncertainties are part of business but you should stick to basics to overcome all troubles. It is concluded that one can easily a franchise as part time business with low investment.

Give a chance to nurture your entrepreneurship skills through franchise business model

Give a chance to nurture your entrepreneurship skills through franchise business model

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It is quite confusing for many individuals to left a high pay. At certain age there is number of social responsibilities that makes you thinking twice, whether to pursue your dreams or engage in daily routine life. The key to work on your dream project is to choose a business model that can be coupled with current lifestyle. One of the best options that suits is franchise business model, you can start a new business as per needs and wants. First all identify your areas of interest then select a franchise which have same mission, vision and core values you’re looking for. It is crucial to choose a right franchise partner to develop a profitable business. You should focus on various prospective such as:

  •               Is the franchise business can be operated along with current job
  •            Will it be profitable in future or not
  •         Current market value of bran
  •               What kind of support will be provided by franchisor
  •              Profit margins

Whether you handle business alone or hire management team, goal and objectives should be developed so that team members’ efficiency can be measured. Franchise is tested business model of some other company, it is ready to implement format for beginning and running a business. However you can carry current job as well because franchise is provided phenomenal flexibility, all you need to do is focusing primarily on template designed by franchisor. To add more, Technological advancements has made everything easy, from managing system to payment you can easily control each section of business without physically present in franchise store. It is always a dream come true to become a boss of own business. It goes without saying that pressure and uncertainties are part of business but you should stick to basics to overcome all troubles. It is concluded that one can easily a franchise as part time business with low investment.