5 Franchise Industries That Will Rule in 2020
By Priya Shetty
The FranchiseBazar team, with our vast experience in dealing with various industries over the past two decades, have made our predictions for the hottest upcoming franchise opportunities and industries entrepreneurs looking to start a business in India should not miss in the year ahead.
You must be wondering how do we pick these hot opportunities. What are the metrics taken into consideration to figure out exactly which franchise industries are going to perform better than the others? They may work out for a bunch of people out there, but are they going to work for me?
Well, we understand all of your concerns here and that is why we carefully look at the data that we have accumulated over the past years. We analyse and segment the various types of franchise businesses that are just beginning and those that are already established and evaluate them based on a number of key performance metrics.
We also analyse the data of existing franchises that are experiencing tremendous growth in their respective industries and compare them with other budding brands from the same industries.
So, whether you are interested in getting on the bandwagon of the next big startup, or investing in an industry that has a proven track record and is going to get stronger in the coming years, you must consider the following list before you take the franchise plunge in 2020.
In spite of all the data, analysis and research that we have carried out from our side, we suggest you do your homework before you invest. We always recommend you study the franchise disclosure document. Also prior to investing you must consult with an attorney. You could also consult the existing franchisees to get a realistic view of the industry. From our side, we provide you a framework that will help make your decision process a little bit easier.
Beauty and Spa Franchise Opportunities
People love pampering themselves. The huge growth of beauty and spa franchises is an indicator of this trend. Nail care and other pampering services in a soothing ambience is very popular. This trend is not only for women ,hence it is recommended that you go for a brand that caters to both women and men as there is a huge market with men that is slowly getting bigger in India. This is the correct time to ride the wave that is only going to get bigger in 2020.
Preschool Franchise Opportunities
With more and more Indian parents working, the demand for childcare is high. Parents are increasingly looking out for preschools that blend Montessari and various other methods of learning and development. This is the reason this industry is expected to continue to grow in the coming years and should not be missed if you’re exploring franchise opportunities in the Education sector in India.
Automotive Dealership Franchise Opportunities
A very important and consistently growing industry is the auto industry. This is because of the huge demand for the three wheeler in the Indian market. This segment experienced a dream run in both domestic and export markets. Three wheelers are used extensively as a last mile transport option in our country. It is highly recommended that you take advantage of this rising tide in 2020.
Retail Franchise Opportunities
Retailing in India is one of the pillars of its economy and accounts to a whopping 10% of its GDP. If you are looking at riding the retail wave in the Indian subcontinent, you need to be present at the right place to tap the target audience. Taking up a retail franchise could help you tap right into the local market and with the experience and support from the franchisor in terms of marketing and handling the day to day operations could do wonders for you in 2020.
Fitness Franchise Opportunities
India’s fitness market is growing at more than six percent annually .Starting a premium gym would cost nothing less than 50-70 lacs. With franchise available with international brands, at lesser investment, it is worth considering. Some fitness brands are innovating to come up with more fun programs such as mini trampolines that encourages fun moves and thus are more popular than others. Choosing to go for some of these brands could help you get started with your dream of owning a fitness franchise in 2020 without draining down your savings.
It is necessary to do a thorough research on all the industries listed above. You can choose the industry that best suits your profile and interests. Never invest in an outdated business model if the industry is on the verge of disruption. It is recommended you consider a company with forward looking management and in an industry that's likely to thrive in any type of economy.
Excited to walk into 2020 and live your dream of owning a franchise business from the above industries?
Check out our Top Picks from these industries here
If you have any questions regarding the trends that we have predicted for 2020, please leave your comments below.
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