franchising aspects Jun, 14 2010

Franchising: enticing offer for all

Though franchising is in its nascent stage in India, still it carries lot of potential to fulfill the cherished dreams of aspiring entrepreneurs to be successful business owners. Franchising has something for everyone. Read on to know which franchise is b

By Abha Garyali
Sub Editor
Franchising: enticing offer for all

With unique business opportunities alluring the youth, it is not uncommon to find the aspirants entering the business arena for achieving instant success. Owning a business may have many benefits but seldom guarantees cent per cent success. However, such shortcoming is greatly reduced in franchising. The concept of franchising is based on a tried and tested business concept, which nullifies the risk factor involved in any franchise business. Franchising has gained lot of prominence in the Indian business industry in the last few years. Moreover, franchising offers a variety of business proposals to suit each and every aspiring entrepreneur.

Owning a franchise business is comparatively better than starting your own business from scratch. This is due to the two main benefits of franchising:

  • The product or service brand already has a strong presence in the market. It is well-known to the customers/clients who will surely come to the new outlet.
  • A sound business system and a tested model to work with, and strong support system to help the franchisee develop the business

Franchising provide opportunities in almost every arena where one can think of starting a business. It is up to you to select the right franchise business for you depending up on your interest, budget, and experience.

Franchise to suit everyone

Here are enlisted some popular franchise concepts which are best for you

Franchises for women entrepreneur: With good educational qualifications and experience, many women prefer to earn their own money after marriage as well. For such women, taking the franchise of any play school, educational institute, beauty clinic, home furnishing etc is a good decision. Moreover, the home-based franchises work best for mothers who have the entrepreneurial zeal in them and want to earn the franchise way.

For husband-wife team: Many married couples are taking up franchising these days. Many couples after few years of working in the corporate sector turn to franchising. These couples can take up in any retail franchise (taking an apparel, foot-wear franchise etc), F&B franchise etc. In these, one can look after the accounts section while the other can run the franchise and handle clients/ customers.

Ex- employees of real estate and financial services: The popularity of real-estate and other financial service franchises offer a lot of franchise opportunities for their employees. The people working in this particular sector develop strong social links with their clients. In later years, they can undoubtedly take the franchise of any of the well-known brands of this sector and taste success.

Automotive and technology lovers: Presently there is an increasing number of car-care as well as other automotive related franchises for the car lovers. Youth being interested in this concept can successfully take and manage a car franchise.

Retirees and ex- servicemen: Franchising offers many business opportunities for retirees. There are many franchisors who prefer to have retired and experienced franchisees to expand their network. Such franchise includes financial services, home-based, internet, and communication and many more. Such individuals can take up a franchise of any of these concepts and earn profits without taking too much of pain.

Beauty and wellness experts: Today’s youth have become fashion conscious. This industry has a lot of scope for such fashion and beauty conscious entrepreneurs. Such aspirants prefer to take up a franchise of apparel sector, beauty salon including the gainful but still untapped spa sector.

Food and restaurant lovers: The F&B franchise sector continues to expand with great opportunities for everyone. These can benefit low budgeted entrepreneurs with small trailer vending concepts to fast food stores and also to rich franchisees to start a casual dining or branded family restaurants.

Entrepreneurs with Low budget: Aspiring entrepreneurs with less investment capability can also achieve handsome returns through franchising. Franchising also caters to these aspirants with its low-cost franchises. These individuals can take a kiosk of any food, jewellery, chocolates brands and many others. Consumer services like dry-cleaning franchise, travel companies, matrimonial franchises also come under this category. Moreover, many business services including courier franchises, cartridge refilling and financial franchises also are low-cost franchises.

Choosing the right franchise will be the best bargain for you in this highly volatile business scenario. So move ahead and enjoy franchising!

Related: Wholesale brand building

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