1.00 Indian rupee ₹ Is it a good idea to take the retail business franchise in India….? Mumbai

Published date: February 8, 2020
Views: 7
  • Location: Mumbai, Mumbai, Maharashtra, India

Is it a good idea to take the retail business franchise in India….?

• It’s Food, Clothes & Houses, where people spend their earnings.
• India 5th largest country in terms of consumer capacity and retail destination
• India has a substantial consumer base along with an increase in the purchasing power
• The Retail market is growing at 12% per annum

In India, franchising acceptability is growing by the day and it has a fairly conventional industry spread. There are various franchising options available in the market but it depends upon a lot of factors such as industry growth, government policies, tastes and preferences of the target market and particularly, the capital and risk you wish to take.

Franchising in India
In India Approximately 600 franchisors, close to over 40,000 franchisees, with an annual turnover anywhere between Rs.8000-Rs.10, 000 crores spread across industries like education, retailing, professional services, healthcare, etc.
Initially, the Education sector is dominating the Indian franchising scenario, although Retail is fast catching up. In India franchising in the retail sector, grew initially in the apparel & footwear segments and continuously developed to cover a wide variety of sectors including food, consumer durables, jewelry, books, home décor, etc.
Opportunity in retail
India, which has a developing working class of more than one billion people, is currently situated as a major force in the global economy and prolific ground for investment in retail and business development. There are lot of opportunities in Retail Franchise in India. The Retail sector contributes nearly 10 % to the GDP of India and around 8 % of the employment.
Among the emerging and developed nations, India's net retail sales are quite significant. India's retail market is expected to nearly double to US$ 1 trillion by 2020 from US$ 600 billion in 2015, driven by income growth, urbanization, and attitudinal shifts. While the overall retail market is expected to grow at 12 percent per annum, modern trade would expand twice as fast at 20 percent per annum and traditional trade at 10 per cent.

Some key trends in India
The main key factors of organized retail in India are
1-Increase in per capita income which in turn increases the household consumption
2-Demographical changes and improvements in the standard of living Change in patterns of consumption and availability of low-cost consumer credit

The way ahead
The Indian retail sector is undergoing a metamorphosis; modern stores, shopping malls, and multiplexes are emerging across the country. This transformation, along with the increasing purchasing power and changing lifestyles of people, particularly of the growing middle-class, has spearheaded the franchising movement in the Indian retail sector.

Benefits of retail franchising
Brand Recognition
The most important reason for zeroing in on a franchising business is brand recognition and recall it enjoys with the people. Opening a franchise accompanies the selling power of a known brand. So, when the potential client sees your new franchise area, they as of now have a familiarity with the brand and products and know exactly what to expect.


Huge market base
The demography of India is ideal for conducting business through the franchising model, particularly in the retail sector. Clubbing this with the expertise of people in the local market makes the franchise arrangement a great proposition.

Summary
The Retail industry has been witnessing consistent growth over the last few years and is expected to grow more in the coming years. There are various types of franchising opportunities in the retail market that are open today.
International lifestyle brands, have great plans of expanding in the Indian retail market want to launch their product in India because of the wide market, powerful economy, multilingual culture, and low labor cost. This could be an extremely promising opportunity for investors interested in starting a business in the retail segment in India. Getting the chance of Retail franchise could be the wisest decision that can enable you to get benefits for a lifetime.

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