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Relevance of Franchise in India
“Indian states have a great potential for the untapped market which presents enticing
opportunities to the franchisors as well as aspiring Franchisees.”
Franchising is one way in which a company can take advantage of India's vast market
with a degree of control that other traditional forms of dist ribution cannot match. More
and more people working in the corporate sectors are quitting their jobs to become
entrepreneurs. Many become Franchisees and earn both wealth and reputation. There have been many success stories and many are being written every day. |
Being geographically vast and culturally diverse, India offers the most favorable
franchising environment. While companies benefit by having many profit making outlets
in different parts of the country, Franchisees in India benefit by being able to generate
good returns with little investment and risk involved. Franchising in India is at a very
nascent stage. However, this industry has clocked the growth rate of 25-30%, the second fastest growing industry
Key attractions are:
1. Law and order situation is peaceful.
2. Attractive incentives for investors under the New Industrial Policy 20.05
3. Amicable relations between industrialists and the labor segment.
4. Pro-active, alert and responsive administration.
5. Easy availability of skilled manpower. |
Franchising, a dynamic and ever changing industry, will firmly establish itself in a couple
of years. It is not difficult to spot malls. Organized retailing though only at 2% of there tailing, will take off in a very big way. The Indian middle class has been slowly
expanding; it now buys consumer appliances, thanks to the economy growth of over 8,
the stock market crossing 6,000, FOREX reserves surpassing100 Billion USD, and the
increase in disposable income. Today, over 33 million Indians can afford the best
services and products and over 310 million Indians buy consumer appliances. |
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