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Nov, 30 2011

RAKE IN MOOLAH@HOME

Get up in the morning, get ready and stay at home…astonished! Don't be. Your home is your new office. In franchising, home-based business opportunities are pouring in. Take it easy and catch the trend.

NO Equated Monthly Instalment (EMI) or huge amount of cash, as money comes to you with practically no investment, equipment etc. Franchising can't get better than this. Don't believe me, then read on to find more about home-based franchise opportunities.

Past record

Most franchisors of home-based brands conceived this idea, as they could empathise with the budding entrepreneurs, who were holding themselves back due to limitations in finding appropriate business for themselves. For instance, Rishi Mathur, Co-Founder and Head- Technology of Vyapar Hub, affirms: “I found it a big challenge to find the right person, who can guide me on small and medium enterprises (SMEs) related enquiries. This inspired me to start a Business-to-business (B2B) portal in the form of Vyapar Hub that exclusively caters to leather, footwear, fashion and allied industries.”

In 2011, Vyapar Hub was registered and recognised by the Government of India and started a full-fledged IT-based consulting company. Gradually, they expanded into four major in-house brands- Adhyayan, Manan, Margdarshi and Samadhan.

Snap the biz online

DiscountPandit.com, a hyper local social deals search engine was initiated by a group of college students, who were trying to find best deals online. Still, at a nascent stage, DiscountPandit.com will soon come up with a home-based business model. A franchisee of DiscountPandit.com needs an investment of Rs 5-8 lakh with an area of 600 sq.ft to start the business.

Seeing the flourishing online business industry, Ketan Bheda, an independent brand partner of Vemma USA and owner of Vemma Team Direct, is offering a home-based online business opportunity. Catering to the food and beverage industry, Vemma, USA, was the brainchild of Chief Executive Officer (CEO) BK Borekyo, who developed the idea of Super Liquid, a nutritional drink, giving people good health as well as an option for creating wealth.

Sparking deal for low-tech people

If you are not tech savvy and wish to start a home-based franchise, then here is a good news for you. Sparket, a corporate gift store, is keen to offer franchise, which is run from home. The company has completed 25 years in the gifts industry and wish to take their legacy forward via franchising. Anil Kumar Gupta, Managing Director of Sparket shares the success story of a Mumbai-based franchisee. “Our franchisee in Mumbai is operating from home from the very beginning. Though now he is actively considering shifting to an office, as he is ready to deploy more resources to scale up his business in his exclusive territory,” says Gupta.

The interesting part is that a Sparket franchisee needs a table space and around two cupboards to keep samples to commence the business. Some of their exclusive franchisees in Delhi-NCR and Kochi have taken residential apartments, which they are using as an office too, as they don't belong to these cities. The highlight of Sparket is that the company does not take a penny from a franchisee till he/she starts earning and it is one-of-its kind Indian franchise concepts. The investment is Rs 2 lakh for non-metro cities and Rs 5 lakh for metros and minimum area required is 50-100 sq.ft.

Sparket leaves no stone unturned to make a franchisee aware of how the business is conducted. Initially, a franchisee undergoes training in Kolkata and the company also imparts them knowledge about the product, vendor base and the back office takes care of their accounts and other statutory formalities. In case of large bulk orders they support a franchisee with investments.

Splurge on...

Home-based franchise model can be compared to 'free of cost model' as the basic cost of infrastructure is absent. Anyone from retired person to a housewife can make use of this model. According to Mathur: “Even students can be a part of Vyapar Hub by joining this business on a part-time basis. Besides, we also provide training by organising workshops, seminars, providing promotional material and arranging for staff.” All this is included in the franchise fee, which is Rs 80,000 and requires a small room to start the business.

Alan D'Souza, CEO, DiscountPandit.com, feels that online business is a cut above others, as it not only has technical superiority, but also has limited competition across the globe.

He asserts: “Our search engine includes fast moving consumer goods (FMCG) that have huge market potential and also contribute towards the growth of e-commerce.” The company needs almost nothing from a franchisee except basic communication, operational and marketing skills. By holding one day session they teach an employee on how the website works, techniques to sell inventory etc.

Vemma Team Direct has specially carved out a home-based franchise model called Multi-Level-Marketing (MLM). This constitutes a binary network marketing business by setting up two teams of distribution, operating directly from home. The company calls its franchisee as 'brand partners' and keeps up to it by providing them corporate and web training, organising conferences to develop business and a free website to conduct business.

Craving for more?

If you are an existing franchisee of some other brand and your franchise appetite is still not satisfied, then without second thought invest in home-based business. Most home-based franchisors are ready to put stake on existing franchisees. With five franchise centres and also international franchisees in Nepal and Bahrain in the pipeline, Vyapar Hub is seeking pan-India franchisees and is open to franchisees of other brands. “With over 2,000 brand partners of Vemma Team Direct in India and one lakh worldwide, we are open to franchisees of other brands who can operate from home with an investment of Rs 60,000-1 lakh,” says Bheda.

Eye candy for franchisees

With so many astounding qualities, the home-based franchise model is the latest eye candy of every franchisee. Home-based franchisors are expanding aggressively pan-India. This gives an edge to every prospective franchsiee to start a business from home, balancing both personal and professional life. Here, to stay for long, it comes as a bliss for every budding or even established entrepreneur and one just can't ask for more!

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