By the year of 2017, hopes of new emerging business opportunities will come. Here below we trace the five categories, which are going to be the five potential franchise sectors in 2017, as stated by Shiv Shivakumar, Chairman and CEO, PepsiCo India.
The apparel retail is one of the hottest franchise sectors in today’s time. As per Shiv, it is going to be $ 11 billion market by 2017. India's apparel market, which was worth Rs 2 07400 crore in 2012, is expected to grow at a CAGR of 9% over the next decade, say reports. Manyavar, Arvind Brands, Donear, Being Human, Chhabra 555, Fab India are some of the major franchise apparel brands.
Consumer durables, electronics and mobile
Shiv feels this sector is going to prosper in a big way with him suggesting it as a $ 11 billion opportunity market by 2017. Several Indian and foreign players are doing really well in this sector and it is going to be the future as well.
Furniture and furnishings
In franchising, the furniture and home décor industry is also emerging as a key player with growing number of brands providing franchisees. The market is worth Rs 40-60,000 crore and is expected to grow robustly to Rs 160,000 crore by 2020, as per recent reports.
It is also one of the main potential franchise winners as Shiv suggests it to be a $ 4 billion opportunity industry by 2017. And why not? India is already among top five pharmaceutical emerging markets of the world. According to Indian Brand Equity Foundation (IBEF), the Indian healthcare industry size is expected to touch US$ 160 billion by 2017 and US$ 280 billion by 2020. MedPlus, Apollo Pharmacy and SRS Group are some of the major franchise pharmacy players in the business.
This sector, as per Shiva, is going to open many avenues and will be a $ 1 billion opportunity by 2017. The Indian gems and jewellery sector plays a pivotal role in the economy as it contributes about 6-7 % to the country’s GDP. According to Gems and Jewellery Export promotion Council (GJEPC), India, which is the world’s largest cutting and polishing centre for diamonds, exports 95 per cent of the world’s diamonds. Brands like Tanishq, PNG Jewellers under Silvostyle, are offering franchise opportunities for entrepreneurs.