Advisory Feb, 11 2010

Modernising legacies through franchising

Inheriting an age-old legacy from your forefathers in the form of a retail business maybe a dream come true for many. But young ambitious entrepreneurs usually like to lend a modern edge to any venture they take up. Do you also belong to this category? R

By Abha Garyali
Sub Editor
Modernising legacies through franchising

Modern retail is synonymous with a better shopping experience for the consumers. Times have changed from those when consumers would accept whatever the local retail shopkeeper offered them. Today’s consumer is educated, intelligent and quite aware of the products and can no longer be hoodwinked by the local retailer. Moreover, the next generation shopkeepers also understand the needs and demands of the consumers better and are ready to offer consumers the best deal. Till a few years back there were limited career options like medicine or engineering. However, with the popularity of business education the newer generation is keen to enter the business world. With franchising proving to be a lucrative option, more and more youngsters are adopting this method to revamp their family businesses and are fast becoming a part of this already proven business format.

Take a visit to your local market and you will realise that every shop has under gone a transformation. This transformation indicates the beginning of a new era in modern retail and franchising has played a significant role in this transformation. Many new generation shopkeepers have adopted the franchise route for the up gradation of their retail stores. Franchising not only gives them a brand identity but also helps them with a smooth store functioning.

Why franchising?

Now, one wonders why is franchising the best way to up grade a store. Here we discuss the significance of converting an existing retail store to franchised one.

Brand value:  Through franchising, a store gets a brand value. Today, the buying decisions are greatly influenced by brand factors and converting your independently-owned store to a franchised store will attract more customers and give you the benefit of increased sales.

Better consumer experience: Franchised businesses when well researched are successful business models. These business concepts are developed after a thorough study of the consumers’ behaviour. Adopting a franchised business will make your store more consumer friendly and give your consumer a better shopping experience.

Less investment:  Turning an already successful and established store to a franchised store needs investment only in terms of infrastructure as the retail space is already there. In addition, people are already aware of the existence of the store.

Easy expansion with franchising: The educated younger generations are well-aware of the benefits of becoming multi-unit franchisees. Expanding your traditional business involves more risks as people outside your region might not be aware of your store and may not be able to draw footfalls in other regions. Therefore, it is always perilous to expand the traditional business. On the other hand, opening multi-units of the franchised outlet can acquire more profits.

Better ambiance and infrastructure: Franchising assures better ambiance and infrastructure. A local shop can rarely compete with a franchised outlet in terms of its great ambiance and services. The younger generation knows the advantages of a good set-up and infrastructure and prefer taking up franchising.

Word of caution

No doubt, young aspiring generation of shopkeepers are convinced enough to convert their family business into franchised business. However, before you take the final decision just consider the following points:

  • Franchising might lead you to lose the age old legacy of your forefathers. 
  • Franchising does not guarantee assured success.
  • Franchising might let you lose some loyal customers who were more comfortable with traditional means of shopping and are not ready to accept the changes.

Related: Franchisor: the backbone of franchise

Click Here to add Comment
Please add your Comment
Insta-Subscribe to
The Franchising World
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Sell Business 2017
Sell Franchise 2017
Daily Newsletter

Submit your email address to receive the latest updates on news & host of opportunities.

Most Section

Entrepreneur The Franchising World Retailer 2017

Recommended For You
Newsletter Signup
Submit your email address to receive the latest updates on news & host of opportunities.
Franchise India Holdings Ltd

Copyright © 2009 - 2017 Franchise India Holdings Ltd.

The information contained herein is of generic nature only, and Franchise India is not, by means of this website or any part thereof, rendering professional advice or services. Before making any decision or taking any action that might affect your finances or business, you should consult a qualified professional advisor. Your use of this website or any of its pages or links given, is at your own risk and you assume full responsibility and risk of loss resulting from your usage. With respect to use of the website, kindly visit


Tell us what you think!