With an erupting population of billions where the bulk falls in the bracket of youth, India is definitely the powerhouse of all business prospects. More people means more demands and thus there would always be a pressure on the supply level; of various things. From necessary goods to luxury goods, India needs a very good stock of products to attend the requirements of people here. So, one cannot say that the prospect of India would be poor in the coming ages because of immense business opportunities here. Talking of business, most of the major global companies have seen a considerable growth through the route of franchising.
The idea of franchise business is a clever one where the brand gives opportunity to suitable people to run a business of their own. And in today’s time, investing in the field of franchise of gifting seems like fun because of our culture itself. We have so many festivals and occasions round the year that one cannot run in loss if he/she is looking for a good opportunity in this arena. You may be surprised to learn that currently the total outcome of franchise industry in India is a staggering $24 billion and there is anticipation of it to rise as more as $35 billion by 2020. Getting more into figures, India is also the second fastest growing economy worldwide and the consumer expenditure has seen a growth of over 75% in the past four years.
By 2017, franchise industry is anticipated to contribute at least 4% to our GDP which gives us a relief that there would be more ways to earning money. We as a country is a colorful one due to the amazing mix of culture, socio-economic values, languages, etc. And this is the reason why most of the global brands are eyeing their TG or target group in India. Retail, food and beverages, gifts, health and wellness, education, and even customer services are some of the key areas of franchise business in India. All these top notch organizations have understood the system of life in India and that’s why they are always ready to serve just the right things. For example, the flower franchise in india has flourished over the years because some business heads like Ferns N Petals have understood that for every decoration in our countless occasions, flowers are the most important things.
Currently, more than 3000 franchise brands are gracing the business scene in India and at least 1000 global brands are fighting to enter this market every year. So, one has to say that good days have really arrived.