Bold entrepreneurs in India are on the lookout which franchise is promising. On the other hand, business owners wanting to expand their existing business feel expanding by franchising will lower costs upfront.
Are there good franchise opportunities in India?
This can be a difficult question to answer straightaway. When the economic times are rough, the interest in buying and operating franchises tends to increase, partly because entrepreneurs perceive it to be simpler and easier to launch a business with someone else’s concept.
In India, very often we see an entrepreneur having a dilemma to buy a franchise or start an independent business.
The former looks advantageous to start with. You have a proven business model and established systems that have already passed the rigors of risk taking. Both these allow the entrepreneur to shorten the learning curve and take off faster.
Can you be sure there is success ahead?
The future can deliver diagrammatically opposite results. On the brighter side, franchising can ease the path to self employment by allowing an entrepreneur to buy a packaged concept with an established business model.
On the other hand, it can transform the dream of business ownership into a dreadful situation and burden the franchise with debt and oppressive relationship with their franchisors.
“In the present scenario, franchise opportunities in India are good,” says an experienced businessman. “However, risk takers must take due diligence and research well before they leap.”
For many entrepreneurs, the present outlook in India appears rosy. It looks a buyer’s market all the way. Franchisors are appearing eager to sell franchises.
However, before you jump the bandwagon, consider the following:
Contemplate hiring experts
Franchising has pitfalls. There are tragic stories of failures because people have signed agreements without fully understanding the implications. Individuals have lost everything they had - their lifetime savings and even their homes.
Ideally, a good start needs a good financial advisor, a legal expert, and a business partner to work with you.
Importantly, the entrepreneur must learn to negotiate. He or she must be bold enough to negotiate things like fees and larger territory.
Franchise is certainly exciting, but a good amount of work goes into it.
Brandtrotter® is a team of seasoned, dedicated, and highly qualified professionals with diverse experience in lifestyle, luxury retail, and FMCG and healthcare sectors. The firm is among the leading franchise consultants in Delhi and has experience of working with corporate houses like Hindustan Lever, Herman Miller, and Osim.
Are there good franchise opportunities in India?
This can be a difficult question to answer straightaway. When the economic times are rough, the interest in buying and operating franchises tends to increase, partly because entrepreneurs perceive it to be simpler and easier to launch a business with someone else’s concept.
In India, very often we see an entrepreneur having a dilemma to buy a franchise or start an independent business.
The former looks advantageous to start with. You have a proven business model and established systems that have already passed the rigors of risk taking. Both these allow the entrepreneur to shorten the learning curve and take off faster.
Can you be sure there is success ahead?
The future can deliver diagrammatically opposite results. On the brighter side, franchising can ease the path to self employment by allowing an entrepreneur to buy a packaged concept with an established business model.
On the other hand, it can transform the dream of business ownership into a dreadful situation and burden the franchise with debt and oppressive relationship with their franchisors.
“In the present scenario, franchise opportunities in India are good,” says an experienced businessman. “However, risk takers must take due diligence and research well before they leap.”
For many entrepreneurs, the present outlook in India appears rosy. It looks a buyer’s market all the way. Franchisors are appearing eager to sell franchises.
However, before you jump the bandwagon, consider the following:
Contemplate hiring experts
Franchising has pitfalls. There are tragic stories of failures because people have signed agreements without fully understanding the implications. Individuals have lost everything they had - their lifetime savings and even their homes.
Ideally, a good start needs a good financial advisor, a legal expert, and a business partner to work with you.
Importantly, the entrepreneur must learn to negotiate. He or she must be bold enough to negotiate things like fees and larger territory.
Franchise is certainly exciting, but a good amount of work goes into it.
Brandtrotter® is a team of seasoned, dedicated, and highly qualified professionals with diverse experience in lifestyle, luxury retail, and FMCG and healthcare sectors. The firm is among the leading franchise consultants in Delhi and has experience of working with corporate houses like Hindustan Lever, Herman Miller, and Osim.
