Franchise businesses provide a well-structured model for launching, operating and growing any business. Any successful business model which involves franchising delivers a proven and effective framework which a franchise owner can work upon to earn and expand. Franchisors set the ground rules of the business based on their experience and decide the operations manuals and training, marketing, sales, administration, and other business-specific processes.
But, what does the future of the franchising industry hold? There are a few essential factors such as demand, competition, ongoing trends and the current growth in the sector that are responsible for the rapid rise of franchise businesses. Will there be ample franchise opportunities in India with low investment as well? Let’s answer these questions and look at a few kinds of franchises that are on the path to grow rapidly and are pegged to perform in the future as well:
1) Fast-Food Franchise industry
Whenever we think about the franchising industry, fast-food franchises are the first thing that comes to mind. A rapidly expanding industry, fast-food franchises are set to grow several times over in the next few years. Food is an essential requirement for everyone; hence, the demand in this sector will witness a sustained growth.
2) Fitness franchising industry
Apart from food franchising, fitness franchising is also catching up these days. The masses are getting more aware regarding their health, and the choices available for maintaining personal fitness are getting popular by the day. Fitness businesses like Planet Fitness and Anytime Fitness are two significant players in this category that have shown that with the right business model, one can have a pan-India presence in just a few years.
3) Coffee chain franchises
Beverages like tea and coffee are among the most commonly purchased consumable items. Businesses like Starbucks, Dunkin Donuts, Café Coffee Day and Cafe2U are a few major players that are capitalizing on this demand through their franchises. Enjoying immense success, this sector would surely carry on the upward growth trend in the next few years.
4) Retail store franchise industry
Retail stores are a basic necessity, everywhere from small towns to big cities. This industry is a multibillion dollar industry that caters to demands ranging from FMCG products and grocery items to other household requirements. A sector well-organized by franchising connects the producers and manufacturers with the consumers. The never-ending demand and supply chain has ensured the rapid growth of franchises in this sector as well.
5) Automobile industry franchises
The automobile industry is witnessing a healthy growth, and thousands of vehicles are sold and serviced every day across the country. These vast numbers, coupled with the rising demand, are the reason behind the successful franchising opportunities in this sector. This sector offers different franchising ventures as well, ranging from retail showrooms to service centers and parts stores.
The rapid growth of these franchise categories is expected to continue as the demand for such goods and services in India rises. Coupled with the rise in disposable incomes, the vast population of the country is set to drive the next chapter of the economic growth. If you are looking for a stable business investment opportunity with a high RoI, do consider a franchise business opportunity in the above mentioned industries.