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Mar, 04 2015

A successful business brandwagon

The 78th National Franchise, Retail and SME Show – FRO Chandigarh 2015 & Startup Summit is credited with being India's biggest franchise, retail and business opportunity show & conference hosted by Franchise India in Chandigarh in February showcased 75 n

Chandigarh FRO 2015 had a successful run with a plethora of brands from the national and international coterie, thronged collectively on this high networking platform with an objective of exchanging ideas and introspecting and charting out business opportunities in a non-political platform.  The Start-up Summit 2015 began with the auspicious lamp lighting ceremony by Anurag Aggarwal, President, Mohali Industries Association. What followed next were his words of wisdom for the audience that comprised of delegates and potential entrepreneurs who had travelled miles to attend the show. Regarding the opportunity and challenges for SMEs  and MSMEs in India, Anurag says, “Around 40 per cent of GDP is contributed by MSMEs. However, out of every five MSMEs, three to four shut down in the initial phase, implying entrepreneurship is not all that simple.”

Educating edupreneurs

Taking a school or college franchise or opening your own is proving fruitful. This was discussed at length during a session on 'Building a sustainable education business.'  Vikas Singh, Campus Director, Chandigarh Group of Colleges, highlighted opportunities that exist in the vocational franchise business and potential of tier II and III cities for the business.

Vikas Singh further adds, “By 2020 there will be a need of 14 crore skilled people and today there are only five per cent skilled people in India. Whereas Japan has 86 per cent and Korea has 96 per cent skilled people. So the huge gap of skilled people in our country needs to be filled and this will throw several business avenues in vocational education and training sector.”

Real(i)ty of F&B biz

The new day revolution in the F&B sector has brought a sine curve in the growth of other industry across business fraternity while itself has diversified to integrate a different segment, to grow by leaps and bounds every year.

In the Indian F&B industry, customisation in menu, ambience & real estate are the three areas of concern that can either make or mar the restaurant business. However, as a new investor, the franchise of an established restaurant brand can fetch great returns but high rentals of the outlet location also comes up as a strong challenge. Akhil Puri, Master Franchisee, Sbarro, North and East India says: "Location is the key point for any F&B brand to run the business successfully. As the restaurant grows, its management entirely gains experience and has a better understanding of space utilisation, services, operational cost of new service, and so on.”

The two day affair gave a platform of opportunities to the 5000+ visitors and delegates who attended the show.

 

 

 

 

 

 

 

 

 

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