The Indian franchise industry is growing fast and showing no indications of slowing down in 2019. There are few sectors that proved highly profitable in 2018 and expected to be producing the same results in 2019.
Growing Economy & Emerging Sectors
With the improvements in various stages, we have seen major investments in some key sectors, and they all are playing an important role in uplifting our economy. As per the World Bank report, India has improved its ranking to 77th position in 2018 in the ease of doing business. With new changes, it is expected that the economy will maintain a high growth rate successfully as there are various initiatives taken by the Indian government to make the country’s position strong in the current global environment. As a fast growing market, India has opened up huge opportunities in various sectors. Franchise business model has opened tremendous new ways to flourish the market well. While as a business model, franchising has proven itself highly profitable to many people who were looking for starting lucrative businesses. There are a few sectors which are presenting abundant investments opportunities. But before knowing more about them lets understand franchise business model first.
The Franchise Business Model
The franchise business model has been known one among the most popular business models. This segment contributes up to 5% to India’s GDP and expected to grow fast in the future. Under this model, the business owner (franchisor) sells the brand’s rights to you or a franchisee. Whereas in return you or a franchisee agrees to pay the franchisor royalty on the sales of each unit. The popularity of this business model increased as it has higher rate of success. It gives the independence of ownership with full-fledged support of a wide extended business network. It easier to earn profit, even you don’t have business experience. Usually, a franchisor provides the training to all its franchisees how to operate the business successfully. Also, a franchisee need not to worry about reputation, brand image, work practices, advertising and many other chores of starting a business.
Lucrative Franchise Business Ideas 2019
There are many fast emerging industries that are leading the way in franchising with the ample opportunities for franchisees in 2019.
The Indian retail sector is getting bigger day-by-day. It contributes up to 22% of our country’s GDP and known as the strongest pillar of our economy. Growth chances are more as larger and small format stores are coming up in everywhere small town to big cities. Click here for more information.
Health and Wellness
Health and wellness is another big industry in India and has become the key part of the franchise segment. You can look for opportunities from international, national and home grown brands as per your investment capability. Though you should have a space close to residential area to provide easy access for clients. You can check for opening a gym, salon, pharmacies and labs with trustworthy market leaders.
Kids segment is another fast-growing industry. Keeping kids occupied in present scenario is quite difficult for parents and it means huge room for business. However, this also needs space connected to residential society to allow easy access for the kids. Safety and security are other major concerns to consider.
Accessories and apparels demand is growing with each passing day. According to available data, apparels comprise up to 7 % of the total franchise market and there is huge room especially in women clothing and accessories. You can explore more information here. However finding a good brand and adapts quickly with the current market demands is key to success in this segment.
When it comes to tasty food, Indian simply cannot get satisfied. Even there are many well known international fast-food brands that are expanding fast in India. You can think of opening your favourite fast food brand outlet or restaurant which is expanding in your area.
Service segment is fast growing. Even you can open a car showroom or spare parts shop, preferably in the cluster market.
These sectors have been registered a huge growth in the franchising industry in India. If you wish to invest securely, you can think of enjoying the freedom of franchise business model.