India has always been a favorite destination for most business entities but these days it is becoming the must reach destination for various business processes and products. The people here too are getting business oriented and are on a lookout for a prospective field where they can invest their money. The Indian economy is expanding and in the past few months have seen exponential growth in its per capita income. It has managed to record a 6.7 per cent growth in financial year 2008-09, despite the global economy still in the agony of recession. The disposable incomes of the Indians are increasing and thus their purchasing habits.
Franchise is one area with almost highest growth recorded so far. This industry has hit the growth rate of 25-30 per cent, the second fastest growing industry. Franchising is a dynamic and ever changing industry and it will grow by leaps and bounds in the coming future. Though organised retailing comprises of 6 per cent of the total retailing but there is no doubt on the kind of success it will attain. In a franchise, a person is running his own business, he is his own boss and yet there is less risk involved in terms of acceptance of the product by the masses because the brand is already known in the market.
However it is important to know which field who are entering and who is a reasonably good player in that segment. Know your market and then planning cautiously who you want to represent because in a franchise agreement it’s the company that you would represent and it’s only their image and reach in market that would bring business for you.
India has given lot of entrepreneurs the opportunity to set their own business by taking the franchise root. It has entered various fields like pharma, IT, eating joints, cosmetic, retail, beauty etc. Franchise has marked the presence of lot of big giants like MRF, Nakshatra, Asmi, Kodak, Pizza Hut, Dominos and the likes. As these companies are well known therefore their franchisees also don’t face any problem in attracting customers.
In the light of all these there are franchisers who prefer to opt for that company’s franchise which deals in female centric stuffs like Gili, Nakshatra and Madame. Since decades women are considered to be the shopaholics as compared to men. They are more addicted towards following the new trend and keeping themselves attentive of the current vogue. They would spend hours in selecting their preference and won’t mind paying that extra buck for a perfect purchase.
Entrepreneurs are waking up to the advantages of being into female centric franchise. Profit is there in franchise but exclusive female franchise is like icing on the cake. Stuffs like clothes, jewellery, personal care products, and cosmetics will never go out of fashion and demand of these products will only go up. Therefore to meet the rising demand it has to be coupled with equal supply. Only thing required is that the company needs to update the collection from time to time to remain in fashion. So if next time females are thronging to your store then blame it on the exclusive female franchise outlet that you have opted for.