With a possibility to push the Indian economy forward, franchising has been playing a notable role in generating new employment (both in terms of numbers and job quality), provide revenue options for the government in the form of taxes, duties etc. Along with its contribution to the country’s gross domestic product (GDP), it has also helped many national and international brands to spread their presence in the country.
The franchise business in India is increasingly getting popular among domestic and international players across various sectors. Several major industries credit successful franchisees for their rapid progress. The key industries that possess high prospects for the successful franchise opportunities in India are following:
- Retail franchise in India
- Food and beverages franchise in India
- Health, beauty and wellness franchise in India
- Consumer services franchise in India
- Education and training franchise in India
The individual growth and potential of these industries are driving the growth of the overall franchise sector in India.
Inspite of the challenges the country presents, there have been many successful franchising businesses in India. Franchising in India has attained stability over the course of time, giving new entrepreneurs increased confidence on the success of their ventures.