More and more people are expressing their interest in franchise business opportunities in India. And why not? India is set to the next hot spot for global franchisors. Home to a population of 1.3 billion people more and more franchisees are setting up their chains in India. There is also an upsurge in local franchisee growing up in India. The entire franchising is estimated to be at $50.4 billion.
And the good part is you too can get a piece of the pie. If you’re looking for franchise business opportunities in India, then we’ve got some quick tips for you to help you out. Here are five best ways to scout business opportunities:
Choose your niche
When you’re looking out for franchise business opportunities in India, it’s important that you figure out what type of business you want to get into. You need to select a sector, an industry, an offering which you preferably specialize in and have hands on experience working in. Ideally, this sector should show strong growth trends and further expanding opportunities. There are dozens and scores of industries to choose from. Some of the common ones are Education, Food and beverages, fashion, health, tourism, sports, business service, etc. Nearly all of these show strong franchising business opportunity in India. So as a first step, have clarity on the sector you’re planning to get into.
Sign up for online franchise marketplaces
Online franchise marketplaces is a kind of website where franchise owners list franchising business opportunities and investors like you can apply for the same. These marketplaces take a small commission for facilitating this process. Depending on the reputation of the marketplace, you can find local, national, and even top-rated international franchising opportunities. Singing up is easy and applying for the opportunities is even easier. You just need to meet the eligibility criteria and have a clear sense of what you’re getting into. So do read the Terms and Conditions, estimated investment requirement, and scope of the agreement carefully before making a deposit or paying an advance.
Attend local business events
Business events or “Expos” as they’re called are an excellent place to find franchising business opportunities. These are attended by franchise owners and representatives who wish to expand their business locally. By attending these events, you’ll get physical demonstration of what the opportunity is all about and what’s in it for you, as an investor. Some of the events are free to attend while others charge an attendance fee. You should cross check it with the event organizers for complete details. But all in all, it’s a great way to find franchising business opportunities in India and abroad.
Talk with local franchise owners
Consider franchise owners like experienced industry players. They’ve already went through what you’re trying to go through. They know how to scout best franchising business opportunities and grow it. And if they’re not bound by legal agreements, chances are they’ll disclose the process and help you out in establishing your own. The best way to use this tactic is to couple it up with the second tip mentioned here: marketplaces. You can find tens of hundreds of people who’re not necessarily offering opportunities but are listed as franchise owners. You can contact them and express your desire to start a franchise business in India. You’ll definitely hear back from some of them.
Created on Jan 16th 2020 01:50. Viewed 364 times.