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Dec, 02 2015

29 days & over 12 procedures required to launch your business

On the contrary, a salon franchise requires 60-90 days to get started, a fitness brand needs 90 days to be operational. We took views of a few franchise experts from the fraternity on the report and is it really that easy to start a business in India in j

It can definitely be different for all sectors as to in how many days a business can actually be started. Istayak Ansari, Director, Lloyds Luxuries Ltd that has luxury brands like Truefitt & Hill under its umbrella comments: “Starting a luxury salon business can actually take up to 60-90 days. There are lot many procedures that have to be completed like permission from the company, Registration, bank account opening. Also, there are certain licenses that are to be obtained from fire department, municipal etc.

In fact, no retail business can be really started in 29 days.” Talking about the fitness Industry, Vikas Jain, Managing Director, Anytime Fitness says, “In fitness Industry it is not possible to start a business in 29 days. It takes minimum of 90 days to start a gym. Although rules and regulation, are not that strict but the procedure does take time from finding a right locality to doing the interiors and buying equipments for the gym and finding the right staff is also important. Without right resources, one can never open any place.”

Lot many permissions required

Commenting on the report, Manpreet Gulri, Country Head, Subway Systems India Pt Ltd. says: “This is a positive development and will bode well for India's perception as a promising investment destination. It also underscores how we as a country are moving from being an over-regulated economy to an optimally regulated one. Though slow, the reform would gather pace with time.

Here are some tips for beginners to commence a venture in India:

•    Know your business model accurately
•    Invest more in people. Hire the right staff
•    Take up franchising but firstly establish yourself and your brand in the market. This helps getting the right franchisees that too in lesser time.
•    Frame a business plan. Jot down everything and discuss every inch with your partner (In case you have one).
•    Hunt for the best locality available through local sources.
•    Have a marketing plan. Plan out how much revenue you want to earn in a month.


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