Food and beverage franchises consistently dominate the franchise sector within India.
As the holiday season kick starts with the celebration of Christmas followed by New Year, people look forward to spending some quality time with family and friends in a far away destination. People look forward to this time of the year, and to invest in this activity, they look out for a wise deal that can fit in their budget.
Reports state that India has become an increasingly popular tourist destination and this influx of travelers has strengthened the growth of hospitality franchises.
Recent developments in India such as globalization, liberalization and increased brand awareness have greatly impacted the country's economy. India is now seen as one of the world's largest and fastest emerging markets, and its vast population size and cultural diversity have made it a prime environment in which franchising can thrive. The franchise industry is growing at a rate of 30-35% per annum and the sales turnover of the sector was recently valued at over US$7 billion.
The youth today want to quit their job and start a business, where they can give their money, heart, and soul. So those who are looking for opportunities in travel franchise business can look at the following business options:
There are many brands like Thomas Cook, Cox and Kings and the likes, who offer franchises. One can take up the franchise and start his/her business.
The companies help in setting up the franchises and the investment will come around 15-20 lakhs.
There are many renowned hotels, which give franchise options. If you think you have the investment or any plot in an exotic location, use it by taking up a hotel business franchise.
The hospitality sector is one of the most promising franchise business sectors as the reports suggest. “Oyo rooms” is one of the examples, where a domestic brand is making its mark globally and how.
Cabs and Taxi Service:
Ola and Uber are just a few names, which are dominating the cans and taxi franchise business, so if one has that amount of investment and business skills to run this franchise business; one must go ahead with the instinct and churn success out of it.
The reports state “this is a business model where the investors can look forward, and this business has got some prosperity shortly and cosmopolitan cities, much better prospects.”
The investment required would be up to 10 lakhs; one can start with a couple of vehicles and later on can increase the number as the business starts showing growth.
Food and Beverage:
Reports state that “Food and beverage franchises consistently dominate the franchise sector within India. One-third of new food outlets in India are established through franchise systems. Quick service restaurants and fast food outlets are the most popular, pointing to a shift in the pace of consumer lifestyles. By 2022 it is estimated that the food and beverage industry will have doubled its workforce, providing plentiful employment within India. The market value of the food and beverage industry was US$26 billion in 2017; this figure is projected to increase to US$46 billion within two years.”
These numbers are the proof that food and beverage franchise business is a good enough option to explore this holiday season.