Profitable Franchise Opportunities For First-time Franchisees
Starting your own business has many pros and cons, but what can be the biggest independent advantage one can maintain than being self-employed? In India, the roots of franchising are reaping the most lucrative and sweetest fruits. Since the growth of franchising in India is nearly $3.3 billion and at present, it has a potential growth rate that is expected to reach $20 billion by the end of 2020 along with 30% year-on-year growth in the country. Keeping such an exquisite growth and emerging franchise opportunities, this is a good time to have a free ride and strike gold out of it in the franchising industry. If you are a first-time franchisee looking for some rewarding franchise business then we have some most vibrant franchise opportunities ready for you. But before starting any franchise business you must have a clear insight into some of the significant factors in the field. Here are a few significant factors you must consider before starting your first franchise business as a franchisee.
Factors To Consider Before Starting A Franchise:
Clear Budget Picture: Before you dig into your hands by starting your franchise, you need to have a clear insight regarding your budget because franchise opportunities come from the lowest investment to the most expensive investment. To decide your budget you must understand the market and the field which are trendy in the market, and after that analyze if your budget can be suitable for that particular franchise or not. Nearly 90% of the start-ups in India failed because of a lack of financial support, so before investing in your franchise business strives to create a clear picture of your budget.
Flexibility In The Business: Since the current pandemic crises have disrupted many business platforms, before starting your own you must consider if the company is flexible in nature or not. A flexible company is resistant to adaptation and take it as a challenge to survive and grow progressively in the market. So if any crises arise then you will not have to suffer to a great length, and you will be able to learn adaptation skills that are one of the core learning skills for any entrepreneur.
Training and Support: This is a must-check before starting any franchise, many franchisors have a well-organized training program through which they assist their franchisees. Before investing in any franchise first, consider if the franchisor provides training or not, and how long does the training period lasts? Apart from this the support and guidance are also provided by many well-known franchisors so you can operate your business without the burden of any risk.
Consultation For Franchisee: If you want to get detailed knowledge regarding franchising in India and how the business works and manages its growth and expansion or if you have any hesitancy before starting your business then you must opt for franchise consultation. But where you’ll find it? FranchiseBazar provides top-in-class franchise consultancy services to budding entrepreneurs so they can start their business with complete courage and assurance. The company has over 20-year experience in the field that provides the most informative knowledge to polish your entrepreneurial skills and make it truly a gem.
After considering the above factors in mind you may go ahead with choosing your best franchise business ideas that have lucrative growth along with emerging demand in the market at present. Below are the top 5 franchise ideas that are having a robust impact in India.
Top 5 Franchise Ideas For First-Time Entrepreneurs:
E-Retail/E-commerce Franchise: Since the COVID-19 cases are surging up in India, many traditional retail shops have been closed down and have started to emerge more on a virtual platform i.e internet. Retail shops have now transformed into an e-retail platform where they provide delivery facilities to the customers. So if your locality has very few retail shops or none then starting your own via franchising is one of the most lucrative ideas you can adopt.
Logistics/Courier franchise: Since many business platforms from retail to food and beverages are providing delivery facilities the demand for logistics is rapidly touching its peak in India. The logistics sector is expected to grow at the rate of 10.7% in India between 2020-2024 and the demand in these sectors has surged up to 25% as well. That is why it’s a golden chance to grab one of the most lucrative logistic franchises and become a successful self-employed entrepreneur in India.
Cloud Kitchen Franchise: You might have read or seen the current robust trend in the food and beverage sector that has to build the most astonishing model of cloud kitchen amid the pandemic. Now, not only Zomato or Swiggy have competition but there are many platforms with unique and strategic concepts that are leading in India and expanding through their franchise model. Since the future of the food and beverage sect has a high chance to operate mostly online, this is the right time for you to choose this worthwhile opportunity and grow.
Healthcare/Cleaning/Pharmacy Franchise: Healthcare sector now is given a foremost priority in India since the global pandemic started spreading, many healthcare centers have started developing its infrastructure to serve better facilities and expanse, due to which the employment opportunities in this sector is becoming an evergreen growth. Even cleaning and pest control businesses have been witnessing a vibrant growth in their business since commercial places needed to be sanitized and cleaned for health safety and measures. These are booming sectors in India which provide one of the most gainful franchise opportunities to entrepreneurs.
Eyewear Franchise: Eyewear Industry in India has been observing vigorous growth. At present, the eyewear industry is growing at the rate of 34% in terms of revenues and it is likely to have an optimistic impact in the near future. Apart from LensKart, there are many other eyewear companies with the best well-organized business plan that offers lucrative franchise opportunities to the entrepreneurs at low-cost. So if you are looking to invest in an emerging industry then picking up the eyewear industry can be a good choice for your consistent growth in the future.
Since you have now gained a thorough insight into the current trendy market, let us present to you the top 5 most profitable franchises for the first-time franchisees that bring lucrative profit.
Top 5 Profitable Franchise Opportunities For First-time Franchisees:
First Go Mart Franchise: First Go Mart is a prominent online as well as an offline retail platform that provides 25000+ wide range of products belonging to 400+ brands. The platform has a wide chain of the network since it deals with many well-known brands and has a wide segment of products available, that is why many customers feel free to choose products as per their preferences and get them delivered at their doorstep. The company helps franchisee is training, promotional, and marketing support to set up and run a successful franchise.
Investment: 20-30 lakhs
Space: 2000-3000 sq ft.
Safe Shift Packers Franchise: Safe Shift Packers is a global logistics business that renders transportation, shifting, and warehouse facilities to its customers at an affordable price range along with convenience. The company now also provides delivery and storage facilities to its clients with complete safety and flexibility. In India, the company is rapidly emerging its footprints through expansion due to its customers’ positive feedback and satisfaction and optimum utilization through which it provides economical packaging. The company has a good build-up of franchise training and support systems that will assist in a smooth business functioning.
Investment: 2-5 lakhs
Space: Less than 250 sq ft.
Patel’s Chhappanbhog Franchise: Patel’s Chhappanbhog provide cloud kitchen franchise opportunities with its dynamic and unique concept of a business where the company has a creative menu with the most demanded cuisines. With the 30+ years of experience in the food sector, the company is now ready for expansion and is rapidly leading in India. The company is most notable for its optimal use of resources which helps it in reducing the additional costs and growing the revenue rapidly. Patel’s Chhappanbhog provides all the relevant training from staffing to layout, HR, and support in even suet selection as well.
Investment: 10-15 lakhs
Space: 250-500 sq ft.
Apollo Health and Lifestyle Franchise: Apollo Health and Lifestyle Ltd. is one of the biggest healthcare retail business platforms in India that has a well-structured network chain of primary healthcare products for customers. Apollo Health And Lifestyle is mostly recognized as the “Apollo Clinic” in the healthcare market where it provides robust franchise opportunities to entrepreneurs willing to take up healthcare business. The company renders its valuable support in training, assistance, marketing, logistics, sale, and many other factors that will ensure the progress of the business.
Investment: 1-2 crore
Space: 3000-5000 sq ft.
Cleardekho Franchise: ClearDekho is one of the prominent eyewear business platforms that provides a wide range of eyewear products with a stunning sophisticated look and trendy designs that attract the attention of many at once. The platform is quickly expanding in India and holds the top-most position in the Indian eyewear industry. Today, CleraDekho has 60+ outlets in 7+ states of India, and the company is still eyeing expansion intending to open 100+ more stores across the country. Due to which it is a golden chance for first-time entrepreneurs to grab this opportunity and make the most of it.
Investment: 10-20 lakhs
Space: 150-350 sq ft.
To get more exciting franchise-related information and the best franchise opportunities in India, kindly register at https://www.franchisebazar.com/entrepreneur-registration For further help give a call on +91-9844443200
Written By: Yukta Palekar
Written by: Divisha Pandey
Written By: Yukta Palekar
Surat, a city in Gujarat, India, is known...
Written By: Moni Evangilin