Here are the piping hot franchise and business opportunities for coming future.
The franchise industry is witnessing the growth of newer concepts and models, which are further creating excitement in the market and among the investors.
1. Coding Schools:
With an upward spiral in the technology-related sector, there is a high affinity towards the IT profession as most schools still do not teach computer coding in India. Addressing the age group of 6-13 years, this promises to be a great educational business.
2. Pet Care:
Almost 80 million homes in India own a pet. This implies that there is an opportunity for pet products’ retail stores to provide pet care products and accessories on one hand while a bigger format could also include daycare or a pet cafe for pet grooming. The area required to open a franchise is 300-500 sq. feet with an investment of Rs 3 lakhs(approximately). MAD and Bon Beno are a couple of leaders in this segment.
3. Tea Café:
Given that urban Indian households are moving towards a café culture, migration towards ‘chai’ cafes and tea bars from home-brewed teas is the reason for over 250 tea bars present all over the country. The investment required in this business is as low as Rs 5-10 lakhs(approximately).
4. Entertainment and Gaming:
The gaming and entertainment centers that marry sports, virtual reality, music, and dining are in vogue today. The investment required is typically Rs 2-5 crore(approximately) with a floor area of 5,000-8,000 sq. feet.
5. Pre-Owned Vehicles:
The pre-owned market for vehicles is around 3.8 million units and will grow up to 7.5 million units by 2023. Today omnichannel diversified models exist in the automotive trade that is low on investment yet high on commission-based returns. CredR, for example, began as an online commercial center for utilized bikes (certified refurbished), is steadily embracing an omnichannel approach through the FOCO model to be effectively open to its audience in offline markets. It has build 7 experience centers across Delhi NCR, Pune, and Bengaluru. The primary establishment display area was set up in 2017 and by Feb 2019, CredR had in excess of 25 showrooms set up on franchise model across 4 cities.
6. Food Trucks:
With the rising costs of real estate and food service models that promise great food but become unviable with huge fixed costs, entrepreneurs have today come up with the food truck model that operates with low investment and can serve many customers outside its four walls.
7. Portable Farming:
Portable farming has given way to a new opportunity in franchising to build organic farming in buildings. This can be done with the help of an open-climate portable farming system (PFS) that comes along with a unique organic farming kit. It requires an investment of Rs 6-8 lakhs(approximately) to build a store of 1,200-1,500 sq. feet.
8. Car Washing:
Car washing, with a Rs 100-crore market held by the organized and Rs 200 crore by the unorganized, the car washing and polishing industry is a star opportunity. The investment required is Rs 15-20 lakhs(approximately) and breakeven is expected within 6-8 months.