Well, we have plunged well in the last year; so far it had been most successful in the history of franchising. We have seen that new startups are interested to go for a franchise business. So in this article, we are going to discuss the following questions that should clear your misconception about the franchising.
What’s hot and interesting in this business? Why do entrepreneurs rush to join the franchise? What are today’s trends? Why it is the best time to invest in the franchise business?
A franchise is a typical business model where the license is given to the third-party person who is willing to operate your business on behalf of a proven business model. This license includes a brand name, logo, products, staff, etc. to run a successful business. In India, there are many domestic and international brands running successfully.
In this digital year, franchise opportunity running speedily on its track. Because the franchise business is stand out of the competition by adopting changes in customer behavior, advanced technology, and the latest techniques.
What are the strong parameters stats that franchising is the guaranteed business which never been failed?
Some business is never been outdated such as beauty salons, tax preparation, schooling, accounting, staff recruiting and pet care that provides necessities to thrive during the recession period. So getting an opportunity in buying franchise business for the right brand is essential to concentrate on increasing good results in bad market conditions. Invest in clothing, sports equipment, fast-food restaurants, and electronic games are more profitable in any economy.
Franchising in green organizations is taking a big boost in the market. Every year the government is investing a high amount of funds in the energy sector. The main aim is to construct the residential and commercial sector by using recycled materials that consume less energy. For this, the demand for energy-related businesses increased and it the best time to invest in this mature market to get end numbers of benefits.
This sector brings lots of opportunities in gyms, fitness centers, beauty salons, nutrition, recreation, and sports. The demand for this business never goes down. The recession can’t overtake these businesses. Self-care business is an all-time favorite because people are spending lots of money on grooming themselves. They are more conscious about their health and well being in this busy lifestyle. So it the right time to rejuvenate yourself by owing franchise opportunity in the health and wellness sector.
Here is the top 5 latest trend that will surprisingly run in the franchise business:
1) Influencers are Emerging:
Gone are the days when franchisors spend most of their investment in traditional marketing and advertising towards TV channels, radio, newspapers and print media. In 2016 the rise in social media takes the traditional marketing place and in 2018 the demand of influences are booming in the franchise business. Influences have a massive following on social platforms that could be beauty bloggers, business owners, speakers, and the list goes on. The franchisees are looking for active influencers to collaborate with them to increase product or service awareness and boost sales.
2) Employees Become Entrepreneur:
Due to the addiction to living a luxurious life, it is difficult to survive in a fixed monthly salary. This encourages young employees to enter into the franchise system where they can get a high amount of return. They are more comfortable to work on behalf of the well-established brand and an effective business model. They believe that franchising is the worth that allows employees to work independently. Be your boss with program-specific requirements, lower level of investment, smooth business operations and a high amount of payback.
3) Women Empowerment:
Franchising becomes a more and more popular way for women to maintain the work-life balance. Women have the traits and skills to run a successful franchise business. From beauty salons, dental clinics to education women have their footprints as a business owner and the amount is increasing rapidly. There are limitless options for women to start their franchise business. Franchisors are actively seeking more talented women as a franchisee.
4) Welcoming International Brand:
In India, the international franchise is not a big deal, there are lots of international brands successfully running in India. Recently well-reputed brand ‘Starbucks’ has set-up its franchise in major cities in India. Also, entering into an overseas market it is easy to reduce dependencies on domestic demand and increase the revenue worldwide. Buying opportunities for the international brand involves low risk, minimal investment and targeted customers who are eagerly waiting to use this globally well-known product or services. The key benefit of owning an international franchise allows an exclusive right to use the proven business model in an entire country.
Crowdfunding has the potential to match an individual’s needs who are looking to open a franchised business. For this franchisees are more interested to join with Crowdfunding networks to finance their franchise venture. It is continuously growing with careful planning. Crowdfunding work well for franchisees who are looking for interesting ways to raise capital. The good news is that the latest updates opened up opportunities for franchise businesses to sell securities to unaccredited investors through a smart process. It is the best option for both franchisors and franchisees to grow their business on the top.
Just rely on your gut. As an entrepreneur, you have pretty much sense of selecting which is better beneficial for you. So prepare a list for 2020, investing in which the franchise industry proves itself strong and continues growing in the next few years.
Before you go keep in mind that the franchise market in India is continuously booming with has untapped marketing potentials. This means that the franchise sector can leap even larger. No matter which Industry you are considering as a franchise, it is well-established or not, your part is to do well research before jump into it.