Tag: franchise business

Article Content: Introduction What is a Franchise business?​ How to Set up a Franchise Business in India?​ What Points Should Consider While Setting Up the Franchise Business?​ When is the Time to Consider the Franchise Business Model?​ How to Find Low Cost Franchise Business? ​ Top 10 Low Investment Franchise Business in India​ Why You Should Choose a Low Investment Franchise Business?​ What is the Difference in Between Franchise business & Own business?​ What are the Pros & Cons of Franchise Business?​ Final words on Franchise Business Faq's on Franchise Business in India​ Introduction Starting a business is definitely hard to crack & it could be one of the toughest decisions ever. First, you gotta be convinced with an idea, you need to have a good amount of working capital than build a plan for marketing, branding, sales etc. Sounds like a lot of work to figure out? This is where the Franchise Business comes into play. In this article, will cover what is Franchise Business, how it works, what you need to start a Franchise, and much more. Let’s dive in to see how you can benefit from Franchise Business opportunities and how good this is as compared to starting a business on your own. What is a Franchise business? A franchise business is the extension of an existing business. The franchise business owner has to execute it in exactly the same way as the parent company is executing the business. It is a business system in which a private group of individuals is sold the rights of the business model, logo, name etc of a much larger company. These private operators or business owners are referred to as franchisees. The relationship between the owner & the franchisee is contractual. We can see a lot of examples of franchisees around us like Subway, Dominos, Starbucks, Mcdonalds, Cafe Coffee Day, Pizza Hut, KFC & so on. How to Set up a Franchise Business in India? The initial payments, methods & policies are different for different companies to buy a franchise. Therefore to buy the franchise of any business you have to abide by their particular rules and regulations, pay the specified amount. Once you buy the franchise you automatically get the rights to use the company’s brand logo, name, slogan, etc. You also have to show a property as per the company’s requirement to set up your own franchise. The time period of the contract is also going to be specified in the contract. In general, the tenure is 5-10 years. Also, you can renew the contract applied to all terms & conditions. After the business takes off, there is then royalty payment settlement which might be on annual basis, monthly or it depends. The amount of royalty payment is calculated on the basis of total sales counted by the franchise outlet. A contract with all specific terms & conditions would be signed between franchisee and franchisor. What Points Should Consider While Setting Up the Franchise Business? The franchisee must remember a fact that he/she has only bought the right to sell the company’s products & use the name. He/she has not brought the products. All the methods, processes, uniforms, pricing etc of the existing proven business system will remain the same as the actual business model. It is going to be a retail outlet of the existing business with exactly the same appearance & representation. When is the Time to Consider the Franchise Business Model? An important question is when to start with a franchise business? The probability of falling down in any franchise business is very low as you are investing a big money into an already running proven system. Another important factor is, you don’t have to worry about the growth of your business. You don’t have to invest time in starting a business from scratch & waiting for it to grow. When starting a new business you will have to deal with all aches and pains alone by yourself, while this is not the scene with the franchise business. All your worries will be resolved with the support of your franchisor guidance. How to Find Low Cost Franchise Business? As we’re living in a global village, there is n number of opportunities open in front of you. There are so many websites available that provide a list of low-cost franchise business options in India. These sites would provide you with different categories to choose from as per your requirements. You can also select from a varied price range that fits your business investment plan. You will also get location options to facilitate your business start-up. Below is the list of websites providing franchise business opportunities in India. https://www.franchiseindia.com/ https://www.franchisemart.in/ https://www.startingfranchise.in/ https://www.franchiseasia.com/ https://fai.co.in/ You can opt for various types of franchise business ideas like starting a gym, setting up a restaurant, starting a beauty salon, retail store & more. Top 10 Low...