Top Tips for Women Looking Out for A Franchise in India [2020]

on Jan 14, 2020 | 7507 views

By Priya Shetty

 

“Empowerment is making someone stronger and confident, in controlling their life.” 

 

Why is financial Independence so Important?

Women Entrepreneurship

Financial independence helps women become confident. It also gives women the ability to participate in important matters of decision making, for themselves and their families.

As more women participate and work, it benefits India as a whole. 

The amazing fact is many franchisors actively seek to recruit women as franchisees and highlight the flexibility of their operation or the home-based nature of their franchise system. 

But we recommend, women looking to start their own franchise business in India need to do their homework. Of Course, nothing is risk free in this life, which is we have five important tips that all the women need to consider before choosing starting a franchise business in India :

 

1. Are you ready for the Journey?

Even if you think that it is flexible or home-based work, it is still a business. 

Any business requires your time, energy, and commitment in order to become a successful venture. 

To be a successful franchise business owner, you may have to step in many shoes from time to time and lead by setting examples for others associated with you in your entrepreneurial journey. 

For instance, consider a salon franchise or a preschool franchise in India. It may seem like an easy option. But the salon franchise will not run on its own. Your active involvement is a must. 

It may seem like the life of an entrepreneur is easier. But be prepared to go to your workplace every day. 

 

2. Is it a Legitimate Opportunity

Do thorough research or hire an expert franchise consultant to do it for you. 

There are franchises that are focused on minting money from the initial investment of new franchisees rather than from the success of the franchisees. 

These companies usually provide little support and no marketing for your brand new franchise business to flourish. As a result, a majority of franchisees have shut shop due to losses.

 

3. Study other Women Success stories

Ask your franchisor to provide you with current franchisees contact details. 

Speak with other women franchise owners. Ask them all relevant questions pertaining to your requirements. What were their strategies that helped them succeed ? What is the support the franchisor offers ?

 

4. Do Your Homework

We recommend you work with a franchise attorney, and review your franchise agreement very carefully. 

Irrespective of your investment or how big the brand is, you need to carry out your own extensive research to get all the relevant details which you think would help you to make a confident decision. 

Opportunities for women looking out for a franchise are plenty. 

Based on your priorities and circumstances, you must narrow in on a suitable industry. 

Radhika is a successful woman entrepreneur in Bengaluru. She runs her own salon. Last year, her franchise business clocked a turnover of Rs 1.5 Crores. She is a happy mother too. Many Indian women are walking on the path of financial freedom just like Radhika. 

If you are also one of the women out there, who is trying to become financially independent by starting her own franchise business in India, do reach out to us. So we can discuss the various options available and come up with the industries and brands that are well suited for your needs and requirements.

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