The franchise model is neither too complex nor has any restrictions to barge the franchisees to keep it intact in the long run. According to the Indian Brand and Equity Firm, overall Indian healthcare market is worth US$ 100 billion at present.
The Indian healthcare sector is diversifying and opportunities are emerging in every segment. The need for efficiency, latest technology in healthcare delivery has led to the emergence of organized and professionally managed primary setups. A large number of providers are setting up chains of multispecialty outpatient clinics across India.
Wellness franchise is the best way to gratify the needs of the consumers as it allows easy and quick expansion across diverse locations. The market is full of niche opportunities that can be extremely profitable.
Designed to strengthen business success for both; franchisee and the franchisor, the comprehensive franchise support system in wellness industry is not only encouraging the small brands to spread its presence across the country, but helping them maintain the quality standards of their services, giving them a feasible option to bring standardisation to their services in diverse locations.
Contrary to the popular belief, small wellness brands in healthcare, fitness, spa, salon and aesthetics space, are taking franchise route and seeing adequate business growth.
Betting high on franchising model, Manoj Singla of Zee Laboratories Limited informed, “Presently we are on the top position in Pharma sector in case our franchisee module of business, by new launching new products and divisions, ZEE is contributing in the progress of same.”
Significantly, in the current financial Year, Zee Laboratories’ franchisees have shown a significant growth of 15 per cent. The company had total number of 721 franchisees in 2015-16. However, in 2015-16 (up to September), 109 new franchise outlets added to the list.
Likewise, Dilpreet Singh, CEO, Sera Cue Labs said, “Our brand is growing at a fast pace and currently we have 18 Franchisee owned labs in country with more than 200 collection centres. We plan to close the financial year 2015-16 at a minimum of 50 labs with almost 1000 collection centres.”
Singh strongly believe that his brand, which have grown 100 per cent in the current fiscal, wo;; surely grow 100 per cent more in the next fiscal as well.
According to the Indian Brand and Equity Firm, overall Indian healthcare market is worth US$ 100 billion at present. It is expected to grow to US$ 280 billion by 2020 at a compound annual growth rate (CAGR) of 22.9 per cent. The healthcare delivery, which includes hospitals, nursing homes and diagnostics centers, and pharmaceuticals, constitutes 65 per cent of the overall market.
Learn the tit-bits of healthcare franchise at 13th International Franchise & Retail Show on 18-19th October at Pragati Maidan, New Delhi.