12 Most Profitable Franchise Business Opportunities In India
In recent years there has been a rise in the number of people willing to become entrepreneurs. This has been possible because of supportive government policies and an increase in the success stories of various entrepreneurs. Now, people, especially the youth want to venture into entrepreneurship so that they be their own bosses and earn lots of money on their own terms.
In India, the franchise business is booming at a very fast pace. Every foreign, as well as homegrown brand, is preferring the enormous and densely inhabited Indian market as this business model is lucrative and furnishes profits to both the franchisee and franchisor. In this business model, the franchisor offers the franchisee a high-value brand name, training, structural organization support, legal support, conceptual clarity, etc. in return for an upfront commencement fee, royalty, and ongoing profit sharing.
The franchisor gets the opportunity and aid to penetrate untapped markets and the franchisee obtains a successfully running business model to start up with.
As we all know, starting a business from scratch is very complex hence, owning a franchise is a preferable option. A franchise is a kind of business in which people acquire the rights from a company to use its name, logo, and products to do business in their location. This business model is easy to manage and has a low risk rate. Being a franchisee of a company would be safer and more profitable than starting a new business from nothing.
Let’s know about the best franchise businesses in India:
Getting a franchisee of a food chain is and will always be considered the best choice. The reason is simple; the demand for food and beverages will never waver.
There is no doubt that food processing companies are an integral part of the food industry. Hindustan Unilever Ltd., Godrej Foods, Cadbury India Ltd., etc. are some examples of major food processing companies in India. Other than these big names, there will be many small or new companies in this segment who are looking for an opportunity to expand more in India. The majority of such budding companies seek for trusted franchisees to expand. Interested people can be a part of this ever-growing segment and reap benefits.
There is no denying the fact that the healthcare segment will always be booming. There has been a rising demand for healthcare services, especially in developing countries. The pharmaceutical sector bears the potential to grow at 15% to 20% CAGR to reach US$50 billion and US$74 billion in the coming years.
Rising health awareness and increasing health concerns like obesity, hypertension, stress, and anxiety have increased the demand for pharmaceutical products and services. Hit by the pandemic, this sector is flourishing like never before. Backed by adept medical experts, frontline warriors, and helpful government policies, this industry is surely going to prosper in the future. Joining this sector as a franchisee can be very promising.
Education
Education is one of the most favored segments for a franchise business. There are numerous franchises for schools, pre-schools, coaching classes, etc. Other than the conventional education system, there are also franchises for grooming centers, animation schools, language centers, etc.
Senior care and daycare services
Both senior citizens and infants/toddlers require extra care. In the years to come, senior care service is going to boom as most of the people of the younger generation are drifting away from their homes in search of better job opportunities in other states or foreign lands.
Considering the longer lifespan of the aging Indian people, this is expected to be a safe investment for interested franchisees. The process of starting a daycare business from scratch is quite complicated, however, it becomes easier with a good franchise.
Fitness
Over the last few years, many high-end fitness centers and gyms have successfully opened many franchises/ branches across the country due to the rising health consciousness among the youth. In fact, fitness is one of the fastest-growing domains in the franchising world. Venturing into this segment can be very profitable.
The automobile industry has always been one of the major industries in the world. In today’s time, this industry is starting a new chapter by introducing electric vehicles. There is no dearth of those automobile companies that want to expand their business, especially in India. Hence, there will be varied lucrative profit-making opportunities for interested people.
We can say that electric vehicles are one of those things of science fiction that have become a reality. Air pollution caused by petrol & diesel vehicles and increasing environmental concerns have increased the demand for electric vehicles. Also, the rising prices of fuel have caused a hole in the common man’s pocket. In today’s time, there are numerous e-rickshaws and e-two-wheelers in India and these are quite reliable and successful. Some renowned business organizations such as Hyundai, Mahindra, Tata, and Ashok Leyland have launched their electric cars in the country. Electric vehicles are the future of the automobile industry and becoming a franchisee in this domain is a very profitable decision.
Salon & Spa
Personal care is very important. By doing this, people not only improve the health of their hair and skin but can also enhance their looks. Gone are the days when the Salon and Spa business was only considered a time pass that women took up to keep themselves busy in their free time. In the past few decades, this sector has witnessed a substantial surge. Today, the beauty and wellness segment is a full-fledged industry in itself. In India and across the globe, the beauty and wellness industry is one of the most profitable business sectors.
As per a survey, this segment has experienced a boost of almost 60% in the last 5 years due to factors such as an increase in the urban population, an increase in the population of working women in India, a rise in the salary standards, and a general tendency amongst youth, both men and women, to look good. Hence, starting a salon and spa business can be a practicable option that can fetch you a lot of profits.
Due to the presence of social media, people now want to look and feel good and remain groomed throughout the year. Earlier, trips to salons were made only on special occasions by the ladies. Men too want to put their best foot forward these days and want to be in vogue. Hence, the popularity of salons has sky-rocketed in the last few years.
Besides, increasing disposable income has encouraged many people to spend their money to enhance their looks. Some of the very popular services that are offered by salons are hair cutting, facials, hair coloring, hair straightening, hair extensions, nail extensions, lash extensions, skin care treatments, tattooing, piercing, spa, pedicures, manicures, etc. Owning a hair salon franchise can be fruitful for budding entrepreneurs.
Fast-food outlets franchise
Due to the fast-paced life, the majority of people in our country and across the globe are dependent on fast-food outlets and similar places to satisfy their hunger. These places are also ideal for birthday parties, anniversaries, etc. McDonald’s, Burger King, KFC, Pizza Hut, etc. are well-known fast-food chains that have been in India for many years. Owning a fast-food franchise in India will surely be a good business decision for anyone.
Apparel
The fashion industry in both India and worldwide is flourishing at a rapid pace. Since time immemorial, this industry has always adapted to the changing trends. The domestic apparel and textile industry in India contributes 5% to the country’s GDP, and 12% of the country’s export earnings. Our country is the sixth-largest exporter of textiles and apparel in the world and one of the largest producers of cotton and jute in the world as well. Apparel franchises can be an immense profit-making source if they are placed well.
Laundry services
In this fast-paced age with erratic schedules, people hardly find time to do their mundane daily chores like laundry. Over the past few decades, washing fabrics and apparel have converted into a full-time business from a house-based job. People these days spend hours outside their homes, either traveling or working, hence, the demand for laundry services is increasing swiftly. Thinking of venturing into this business? Now is the right time!
Furniture rental services
In this era, the millennials, students, job-seekers, and young professionals who have to move a lot in search of better job and career opportunities or/and for higher education and find shifting furniture very difficult due to a strict budget and time constraints. Budding entrepreneurs who are setting up new offices, who want to impress their clients through their decor but don’t want to risk investing a big amount have also helped gain business for such furniture rentals. Working as a franchisee in this newly emerging market can be good for an entrepreneur.
Pet care
Pet franchises are at their boom nowadays as the number of pets in the country is continuously growing. According to a recent media report, the pet care sector in India shows an annual growth of over 35%, which means that pet care franchises provide promising opportunities in the country.
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About the Author: GetDistributors Editor
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