Despite the adverse effects of the pandemic on the overall economy, certain segments and businesses have continued to grow and offer excellent opportunities for business seekers. Read on to know the Lucrative Business opportunities and what is required to get started.
The second wave of Novel Coronavirus, the disease caused by the SARS‐CoV‐2 virus, has had significant economic, political, and social consequences worldwide. The franchising sector, consisting mostly of retail and service businesses, is an example of an industry that has been deeply affected. Probably all the economies around the world are battling to cope up with a situation in the wake of an unprecedented demand shock and a closure of all key economic activities that drive development.
However, some entrepreneurs are leveraging these circumstances as an opportunity to invest and grow the business. In fact, lucrative franchise opprtunities appear to be a great deal. These franchise business have many benefits and a lot of reasons why you should opt for one, as they are affordable, can bring faster profit, don't require a lot of staff, and have low risks and high scalability.
For these lucrative franchise opportunities, the pandemic has surely provided a fruitful ground for great development that will become the norm in a post-Covid-19 world. Here's looking at the best Lucrative Business opprtunities in India:
Online education, tutoring, and web courses have become the need of the hour when schools and educational institutions are not open. The online education sector is noticing sudden attention from people of various backgrounds. People are looking towards options of regular online teaching and learning.
Further, people are scared to send their children and youngsters to places where social distancing can't be followed and henceforth the Edtech franchises are tapping on each conceivable element they can. Edtech segment offers some best franchises business, to begin with. It requires a business mind and a will to achieve your goals. A few of the best lucrative franchises in the Edtech sector are Topper Learning, upGrad, Whitehat jr., and so forth. The initial investment can be from Rs 6-30 lakhs.
2. Cloud Kitchen:
With the ongoing situation of covid-19, it's a great opportunity for entrepreneurs to invest in the food supplements franchises. It is one of the best lucrative franchising options available today.
With the Covid-19 scare, people are getting serious to increase their immunity and are looking forward to options to keep them healthy and do not want to miss trendy & delicious dishes. Cloud kitchen, also known as Ghost Kitchen refers to a place where food is prepared and delivered at door steps by taking orders via calls and online ordering platforms. Primarily, they do not cater dine-in services. They are mainly into food preparation and delivery or tie up with food ordering portals. The initial investment can be from Rs 10 to 20 lakhs.
As the public lockdown was forced across the nation and social distancing became a norm, Logistics and Delivery services became crucial for people’s lives and business continuity. This is one of the few sectors which saw robust growth in these difficult times too. This is the reason people are investing in Logistics and Delivery based franchises and making good profits.
Logistics and delivery firms have also modified their processes to offer zero-contact deliveries and are following covid-19 guidelines. Few of the franchises business in the logistics and delivery sector are DTDC, Delhivery, Inxpress, Ekart Logistics, Tracxpress Distribution Solutions. Their initial investments can be from Rs 2 to 10 lakhs.
Another significant business area which is picking up considerably is pharmacy stores. Indeed, pharma stores in proximity have become a necessity owing to the current pandemic as people are highly concerned about their health. People of every age are taking medicines and immunity boosters to keep up with their health. Hence, pharma stores offer a bright and profit-making franchise opportunity for entrepreneurs.
A few of the best pharma store franchise opportunities include Dava India, Medplus, and Sanjeevni Medicos. The initial investment for these franchises starts from Rs 2-3 lakhs and can go up to Rs 15 to 30 lakhs.
The number of retail grocery retailers across India in 2020 amounted to about 12.8 million. This included traditional and modern retailers within the segment. While there was a consistent growth in numbers since 2013, it was largely made of traditional stores. Modern retailers in this sector made up a mere 0.05 percent of store numbers in that time period with just over eight thousand outlets. Their initial investments can be from Rs 2 to 10 lakhs.
While the economic conditions are improving fast, experts see a far-reaching unemployment scenario for the next few quarters. The franchise businesses mentioned above present a bright opportunity that caters to the essential commodities and is witnessing high demand. One can easily go for any of the above-mentioned franchise business options without any doubt as they will keep on sparkling even in the cloudiest of weather.