Franchising is undoubtedly becoming the most successful business model around the world. India as one of the world’s largest and the fastest-growing emerging markets, it is ideal to sell franchises to their country. Especially when we are talking about foreign brands where the Indian masses are attracted giving opportunities to local businessmen to start their own business through franchising. Foreign brands such as such as McDonald’s and Pizza Hut has proven India’s tastes and needs through customization, it has met the India’s local preferences. These foreign brands found franchising is the best way to enter the geographically vast and culturally diverse Indian market which offers the most favorable franchising environment.
Franchising In India: Who Are India’s Top Franchisers?
Based on the Hindu Business Line news, Franchise India is helping employees from the IT and ITeS industry that are facing job threats giving opportunities in taking the entrepreneurial leap. Gaurav Marya, Chairman, Franchise India encourage all employees in the top four IT firms, especially those in the low-salary brackets, are already fatigued doing their jobs to try franchising their brands. Franchising laundry store such as Uclean became the best option as it’s only needs lower investment and manpower costs with a higher degree of automation making franchising motivating entrepreneurs keep doing it while they continue to work in their respective IT firms as they are uncertain about the future of their salaried jobs.
Franchising has a bright future in India, with changing lifestyles, growing income levels, demanding customers and the advent of modern retailing the franchise market is growing rapidly. The huge number of Indian population around the world greatly contributes to the recognition of foreign brands back to their country. The industries cited as the top prospects for successful franchise opportunities in India include food and beverage, education, apparel, entertainment, courier services, stationery and gift shops, health and beauty, fitness and nutrition. Outside India, when comparing franchise opportunities globally such as this one in Australia, study first very well if it’s the right brand for you.
The world’s largest and well-known franchise companies, such as UPS India, McDonald’s, Yum Brands, Baskin Robbins and Subway are already have visible presence in India and the other US brands are starting to shine. Franchising can have flaws as well. Every country has its own rules and regulations that you have to follow but sometimes it can’t be avoidable. When franchising in India, you have to consider its laws including the Contract Act of 1872 which governs contracts in India. A franchise agreement will be governed by the 1872 Act, and the Specific Relief Act, 1963, which provide for both specific enforcement of covenants in a contract and remedies in the form of damages for breach of contract.