My recent visit to New Delhi for the Franchise India Expo and Conference has confirmed the emergence of India as the New Frontier of Franchising, worldwide.
The hard work and vision of Gaurav Marya and Franchise India over the past 11 years, as well as their recent acquisition of the rights and development of Francorp India, have established India as a major player in franchise arena in the world. Hundreds of national and international got together to exhibit at the Franchise India Expo. All these companies have recognised the potential market conditions in India for franchising.
Notwithstanding the global economic slowdown, India has shown a significant growth during the last few years. The attendance of thousands of potential franchise buyers at the Expo gives testimony to the great interest of Indian entrepreneurs in owning their own businesses. Additionally, the success of franchised businesses in India will encourage more and more companies from all over the world to venture into the Indian market. Many Indian companies have successfully franchised and many foreign companies have also found the transition into India both successful, and easier than many other countries. Having a stable monetary situation and political environment have paved way to well organised businesses in India whether franchised or independently owned. The organised franchised and retail sector have outperformed many of the old and established Indian businesses that had not yet modernised their operations, design, methods of operation or appearance.
As India has become a global player over the last decade, it is also becoming a global player in the franchising arena. I came away from New Delhi with a great impression of the tremendous potential for franchising in India. As the largest franchise consultancy in the world, Francorp intends to focus on the Indian market for 2010.