Top 10 Franchise Business Ideas in India 2023
Written by: Resham Daswani
Franchise business in India has shown a tremendous growth rate at around 30-35% YoY. The industry contributes to around 2% of India’s GDP- making it the fifth largest in the world. Many people have a myth about opening a franchise business in India considering it requires a lot of money and experience, yet the facts and figures speak a different story of the franchise business growth in India.
Read the article to know the top 10 franchise business ideas in India which are gaining momentum in the country and prove to be profitable. If you are in a confusion about which franchise business ideas in India are good for you, you can surely find some interesting details about the industry here itself.
What is a Franchise Business in India?
Before venturing into the franchise world and finding which is the most suitable franchise ideas in India, let us see and recall how franchise business works in India. A franchise business can be referred to as a business structure where an already established brand or company provides individual or entrepreneurs franchise rights to use their logo or trademark, products, and services, the latter gets a commission on every sale they make.
Famous brands like McDonald’s, KFC, and Subway have all acquired the franchise business model to grow their presence across the country. Every franchiser has different terms and conditions when they decide to expand their name across the country. Nevertheless, the main strategy behind franchise business in India is that the franchiser provides its name to a new business entity to grow its business and give back a share of the revenue.
What is the current scenario of the franchise industry in India?
The franchise business in India has been growing at a rapid pace, and if you are an entrepreneur looking to acquire a franchise business in India, this is one of the best times to think about going ahead. India has some of the best franchise business ideas, as the industry continues to grow and thus it is anticipated to become an INR 10,000 crore industry by 2024.
Furthermore, after the US, India has the greatest number of franchisers, close to around 4600. Nevertheless, there is more than 1.7 lakh of these franchisees of these franchises who operate over 2 lakh outlets across the country. For instance, when it comes to multi-unit franchises, needs to be said they have grown by more than 36% over the past two years. These include domestic and international brands which offer franchise opportunities in India. As a franchisee, you can choose to opt for three different types of franchise business models a single unit, or multi-unit franchise. Also, entrepreneurs looking for franchise ideas in small towns in India are a growing opportunity as this is where they can opt for regional brands. So, the break up in the entire case could be considered as 50% regional, 16% global, and the remaining 34% national brands.
Now that we have seen what the current scenario of the franchise industry looks like, let us know to see the top 10 franchise business ideas in India.
Top 10 Franchise Business Ideas in India
The most popular franchises in India include industries like beauty and wellness franchises, food and beverage franchises, healthcare and diagnostic franchises, and many other retail franchise brands.
Beauty & Wellness Franchise Business
India has become a city where more and more people are realizing the importance of self-love and they do not hesitate to take care of and pamper themselves. This has in turn increased the number of beauty and wellness franchises in India, as several people are visiting spas and salons more than ever before.
The beauty and wellness franchises in India, offer a wide variety of services and benefits to franchisees to start across the country, and this is an opportunity that is available in tier II and tier III cities as they are becoming hotspots for such franchises. It is not wrong to state that you could find a beauty and wellness salon in big malls in India as well.
Here are some of the top brands which are the best beauty franchise business opportunities in India in 2023
- Lakme Salon
- Loreal Salon
- Toni & Guy Salon
- Jawed Habib Salon
- Juice Salon
Food & Beverage Franchise Business
Next after the beauty and wellness sector in India, comes the food and beverage franchises in India, as Indians love to eat and live to eat. Looking at brands' regional, national and global, these are businesses that are offering people looking to start their food and beverage franchise business in India. If you are looking to franchise in a small town as well, this is a growing opportunity in India, which caters to various brands.
Here are some of the top brands which are the best food & beverage franchise opportunities in India 2023 and are growing rapidly fast.
- Shake Shook Café
Healthcare & Diagnostic Centres
The youth in India is becoming more inclined to have a healthy lifestyle. Nevertheless, regular health checkups have increased in recent years, and people are looking for genuine diagnostics and laboratories to rely on when it concerns their health. The healthcare and diagnostic center franchise business in India is at its peak and is especially popular in localities and communities where there is a relatively higher age group of people.
Here are some of the top brands which are the healthcare & Diagnostic Centres franchise opportunities in India 2023 and are growing rapidly fast.
- Apollo Clinic
- Dr. Batra’s
- Redcliffe Lab
- Lifespan Clinic
- Ranbaxy Pathology Lab
Retail Fashion & Jewellery Franchise Business
People are moving with the trend in fashion and opting to wear branded clothes that not only maintain their status symbol but are apt when it comes to quality and comfort. This has thus led to an increase in the opportunities for the retail fashion and jewellery franchise business in India. Many Indian brands are having multiple franchises across the country which you can opt for.
Here are some of the top brands which are the retail fashion & jewellery franchise opportunities in India 2023 and are growing rapidly fast.
- Manyavar Retail
- Max Retail
- Raymond Retail
- Biba Retail
- Reliance Jewels
- Artificial Jewellery Franchise
- Kalyan Jewellers
This is one of the largest and biggest franchise businesses in India and has been around for years. Simply to say, these are automobile franchise businesses in India for the sale of automobiles. Millions of vehicles are purchased every year, thus this sector has immense opportunities for a franchise business. In small towns, the two-wheeler automobile franchise business is a boom. Thus, if you are an entrepreneur looking to invest in the automobile franchise business in India, you can choose from two-wheeler or four-wheeler automobile opportunities.
Here are some of the top brands which are the best automotive franchise opportunities in India 2023 and are growing rapidly fast.
- CarzSpa Franchise
- Mahindra First Choice Franchise
- Hero Moto Corp Franchise
- BSA Cycles Franchise
- 3M Car Car Franchise
Retail Furniture and Décor Franchise Business
Decorating homes at a reasonable budget is what Indians are inclined to do right now. This has thus increased the opportunities for retail furniture business in India. Many regional and national brands in this sector are offering franchise opportunities in this sector.
Here are some of the top brands which are the best retail furniture & decor franchise opportunities in India 2023 and are growing rapidly fast.
- Pepperfry Franchise
- UrbanLadder Franchise
- Damro Franchise
- Insta Décor Franchisee
- Atom Interiors
Pharmacy Franchise Business
Online to offline medical stores are increasingly popular because it eases the purchase of medicines and provides home delivery services at many affordable prices. This franchise business is a category that is growing rapidly quickly across the country, not leaving alone tier II and tier III cities.
Here are some of the top brands which are the best pharmacy franchise opportunities in India 2023 and are growing rapidly fast.
Preschool Franchise Business
Parents want the best education for their children and starting education at an early stage has made parents see the rising competition. From preschools to higher education franchises, this sector is a base that provides quick and good revenue. Multiple pre-schools are available in all towns and cities which are helping children grow, learn, and get into the best higher education field. Preschool franchise business is also commonly joined with daycare facilities where working mothers get the opportunity to leave their kids in a safe environment, where they know that the kids will be learning and playing as well.
Here are some of the top brands which are the best preschool franchise opportunities in India 2023 and are growing rapidly fast.
- Euroschool Franchise
- Eurokids Franchise
- Kidzee Franchise
- Maple Bear Franchise
- Hello Kids
Ice Cream Franchise Business
Fresh ice creams or ice cream art or ice cream with natural flavors has become immensely popular. Several ice cream franchises are operating across the country and in turn generating good revenue. Choosing the right location like a high-traffic market or a mall can gain good business in this field. Not to forget, ice creams are a common dessert that never goes out of fashion, and it is a demand which remains throughout the year.
Here are some of the top brands which are the best ice cream franchise opportunities in India in 2023 and are growing rapidly fast.
Courier & Delivery Franchise Business
Courier service franchise business in India is one of the finest franchise business ideas which is gaining popularity with a lot of people living away from their hometowns. As more and more people are getting relocated based on job opportunities, accessing quality and swift courier services is quite critical. If you are an entrepreneur looking to start a franchise business in India, courier and delivery franchises in India can cash in on the huge demand be it any type of product today like food, medicines, or other parcels.
Here are some of the top brands which are the best courier & delivery franchise opportunities in India 2023 and are growing rapidly fast.
- GPX Express Courier
- Ecom Express
What is the Investment Required For Franchise Business?
When you are looking to start your own business, the first thought that matters is the investment cost and that’s what people look for when searching for the best franchise business ideas in India. Depending on the sector you choose to invest in and the franchise model you opt for, the investment criteria differ. While choosing to start a business you need to consider the brand, its market reputation, and the location of its set up as that plays an important role based on which your profits will be defined.
To run a successful franchise business in India, all one needs to do is find the right franchise business idea to take forward. Since this is an opportunity that is growing rapidly with so many domestic and international players in the industry, FranchiseBazar can help you in choosing the right franchise business for you in India. We can help and support you with the latest franchise business opportunities in India, or any other assistance you may require.
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