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Multi-brand franchising is the most upcoming concept of multiplying businesses. It not only helps the franchisor to grow from one brand to many brands but offers a growth tool for multi-unit franchisees who have seen their fortunes rise.
Franchising has changed dramatically in recent years, and like most industries, the sector remains subject to the wishes of public perception and technological developments.
Franchising is defined as a proposition wherein an entrepreneur replicates a brand’s business model in exchange of a fee and a share of the revenue, providing both safety of an established brand and independence of running a venture by oneself. Foreign companies have realised the potential of this business model and consider it as the most viable option while making a foray into the Indian market. Given the potential and the success rate of this operational model even established businessmen are attaching more weightage to this proposition, for their successors whenever they think of entrepreneurial ventures.
Multi-brand franchising is a win-win situation for both the franchisor and the franchisee. At the end, both gain some or the other profits which helps initiating a multi brand franchise relationship.
Multi-unit owner, the franchisee is less involved in the day-to-day operations of the unit. They manage operations and decisions at the higher level. The franchisees are not restricted in opening outlets in single city rather can expand in other cities also. Multi-unit operators then manage employs, staff of field and unit managers, while they focus on strategy and growth.
Multi brand franchising does not necessarily mean that you have to choose your list of brands from under the same corporate umbrella; they can be from different brand roofs as well. The multi-brand franchisors invite those young business entrepreneurs who believe in a multi – van business. One may use the same retail space for clubbing two brands together or may open up stores at multiple locations.
Multi-brand franchisees are a rising trend. These franchisees have often saturated the market in their area with their first brand, and to continue their growth, they must take on a second or third brand. For the successful operations, many franchise systems have been developed, tweaked and improved before the first franchisee starts to operate
An entrepreneur in the Indian market, today has the option to choose from over thousands of franchising opportunities in India, which in addition to international franchises, is simultaneously sowing the seeds of growth for domestic franchises. Though education still leads in percentage proportion of share in the total franchising business in India, other sectors like food and beverage, retail follow close in heels with health and wellness being another emerging sector opting for the franchise model. The Indian franchise market does not have a specific set of rules or regulations governing the sector, but it does have the presence of associations that channelize processes for such set-ups–trend that both acts as an opportunity and challenge in the Indian market.
Franchising is defined as a proposition wherein an entrepreneur replicates a brand’s business model in exchange of a fee and a share of the revenue, providing both safety of an established brand and independence of running a venture by oneself.
Kashiff Khan, is the director of Aura Thai Spa, and has acute business insights as well as a proven track record in the corporate world. He has many years of experience in building several brands, developing a unique skill for multiplying businesses and has brought a health & wellness revolution to the country.