It is better to own a franchise of an already established brand to avoid risks in starting a business. Read on to know more...
To numerous investors, a new business may appear to be a risky bet to invest the money. Furthermore, investing in a franchise business is very interesting to them as it has lesser risk factors. In franchising, the franchisee buys the rights to market and distribute the goods and services of the franchisor's organization and uses its business name for a fixed period of time, whereas a new startup must be set up from the scratch.
The franchising model is incorporated by a lot of hopeful entrepreneurs because of its various advantages. So it is better to own a franchise of an already established brand to avoid risks in the business. If you are an aspiring entrepreneur, here's the list of business ideas from the topmost franchise categories that could guarantee you an effective entrepreneurial endeavor.
1. Retail Business Franchise:
Retail is a basic process of selling products and services to the consumers through various channels of distribution through which you can acquire a benefit. Beginning a retail business completely all on your own be a seriously daunting task. Thus, in order to avoid risks, business in retail could be begun by buying franchises of other brands. You could buy book shops, candle stores, consumer durables, e-retail, supermarts, and other retail franchises to venture into retail entrepreneurship.
2. Edtech Franchise:
“Edtech” or “Technology in Education” is not a new buzzword. It is a sector that has evolved over the last few years and emerged to become the fastest-growing sector during Covid-19. An increase in digitization, the start-up ecosystem continuously innovating to provide new services, the ever-evolving consumer base, and the COVID-19 situation has given the Edtech sector both in India and globally a huge boost.
Edtech has seen an upsurge over the past years and is expected to be the ‘new normal’ in the near future also. It’s not entirely because of COVID-19, the trends were similar even during pre-COVID times when Edtech was equally important for a supplement, test preparation, and distance learning courses. Edtech is a global phenomenon and hence needs a deeper look at the complete landscape to develop a clear understanding. One could just purchase franchises of big players in the market like Kidzee, Logiscool, Eurokids, whitehat jr, and so forth as they are quite successful in the market.
3. Beauty and Health Franchise:
Beauty and healthcare are the two most essential necessities of today’s lifestyle. Expanding requests in beauty and wellbeing has brought forth so numerous new business opportunities that have prospered the sector significantly more. There are so many wonderful and health-related franchise opportunities available in the market like beauty aesthetics and supply, beauty salons, cosmetic accessories, clinics & nursing homes, pathological labs, gyms & fitness centers, medical spas, etc.
4. Logistics and Delivery Based Services
With public lockdown forced in different nations, social distancing being practiced as the new normal for upcoming months, and people avoiding gathering up at public places, the Logistics and Delivery based franchises are blasting on the loose. As this sector is growing in these difficult times too people are investing in Logistics and Delivery based franchises and making good profits. They are also offering no contact deliveries and following covid-19 guidelines during these hard times. The best low-cost franchises in the logistics and delivery sector are DTDC, Ekart Logistic Franchise, Tracxpress Distribution Solution Pvt Ltd, etc.
5. Food and Beverage Franchise:
With expanded purchasing force and willingness to spend more on eating out, the food and beverage sector has seen massive growth in recent years. Buying an all-around setup F&B brand's franchise could be a significant rewarding business opportunity as it would be as of now tried and tested and accepted by the clients.
There are different segments in the F&B sector like a pastry shop, snacks, ice cream, online food ordering services, eateries and bars, food trucks, among others.