The recently held two day Franchise & Retail Opportunity (FRO) Show by Franchise India at Nimhans Convention Centre in Bangalore was a remarkable success. The two day event opened the gateways of growth for investors and entrepreneurs.
Bangalore is regarded as one of the most prolific cities of Southern region of India and has the maximum number of prospective investors who are looking forward for ways to get into the proven business of franchising. The two day FRO event held on August 16 and 17, 2014 in Bangalore was organised by Franchise India and Indian Franchise Association (IFA) and was supported by Ministry of Micro Small and Medium Enterprises, Government of India. The show was inaugurated by S.N.RangaPrasad, Director, MSME DI, Bangalore. The two day Startup Summit and Expo was an apt platform for companies to present and expand their franchised concepts by networking with potential entrepreneurs from Bangalore and surrounding cities.
In comparison to past few years, the show consistently registered 30 per cent repeat footfalls over its two days with rest 70 per cent being the unique count each day. FRO Bangalore emerged as the right platform for various home-grown and global brands. The show highlighted on imparting an all-round perspective on franchising within the prominent SME sector, and thereby stressing on the principal concepts and prevailing trends across franchising sector.
Entrepreneurial growth via franchising
Addressing the growing trend of entrepreneurship across the country, day one of the startup summit in Bangalore started off with a welcome address by Ritu Marya, Editor-in-Chief of Franchise India. In her keynote address, she talked about the economic trends benefitting the Indian business environment and enlightened how India can turn out to be right place for foreign entities for setting up businesses. She further stressed on maximising the economic power of SMEs. On sharing his viewpoint on empowering the young entrepreneurs, S. N. Rangaprasad, Director, MSME DI, Bangalore, emphasized on the fact that the government bodies should come forward and enable policy reforms for young entrepreneurs that are looking to start their business venture. The other key speakers at the Start up Summit focused on various topics covering the new trends in high growth sectors that are rapidly spreading across the country via franchising model. It also highlighted about the lucrative business opportunities for ambitious womenpreneurs and guiding them the way forward to follow their dreams. The event also emphasised on the way outs for growing the family owned businesses via replicable business model. The conference provided the right platform for investors by showcasing multifarious opportunities via the exhibition.
Service industry a prolific segment to invest
The leading experts from services industry were part of the panel at the 'The Health, Beauty & Wellness Business Makeover' session. In the health, beauty and wellness segment, Chackochen Mathai, GM Business Development, Trends In Vogue Pvt. Ltd, said: “The salon business across India is revving up big revenues and is regarded as one of the most recession free segment for making investments.” The other speakers were of the view that nowadays there is a massive potential of amalgamating hair salon, nail salon, beauty salon and day spa business. The speakers at the event also enlightened many new and existing franchisors about the strategic tactics of franchising by exploring expansion via multi-unit, re-franchising and conversion franchise. In the education sector, speakers enlightened about the business model that fits best for faster growth.
Retail sector on a new high
Retail sector nowadays is brimming with opportunities galore as e-commerce industry within this sector is flourishing at a rapid speed. The session on “Retail 2020: Rethinking Growth and Revenue” offered great business avenues for investors and elaborated how corporate are encouraging entrepreneurship via retail franchise models. The valuable insights on changing retail landscape and the ever-growing e-retail market were given by L.Subhash Chandra, Director, Sangeetha Mobiles and Vivek Singhal, Founder and CEO, Locville.com.
Alongside the ongoing sessions on various sectors, investors were also invited to attend the expo. The FRO expo is recognised as an ideal platform for different companies to present and expand their franchising concepts, by networking with over 7,000 serious entrepreneurs that attend the show over the span of two days. The show also presented to its valued investors and patrons, home-based, low-cost franchises, tips on start-up ideas.