The Indian economy is witnessing a structural shift from the agricultural based economy to a service based economy. Consumerism is growing at a rapid pace fuelled by the increasing household income. India today is witnessing a huge paradigm shift in consumer trends and preferences. The Indian consumer today is exposed not just to the global brands but has become a regular user of one. This change has led to the growth of the Franchising fraternity. According to KPMG the Franchising industry is set to quadruple between 2012 and 2017. Franchising as a concept has been prevalent in India since a long time. However, shifting consumer trends including growing preference for branded products, global exposure and use of international brands is driving adoption of the franchising route to growth. The key industries that possess high prospects for the successful franchise opportunities in India are following: –
- Retail franchising
- Food & beverages
- Health, beauty & wellness
- Consumer services
- Education & training
The market size of overall beauty and wellness industry in India (both organized and unorganized put together) is estimated to be USD 4.5 billion in 2012. It is expected to grow at a rate of 20-25% annually. Since the sector requires high capital investment for growth, players in this segment are increasingly relying on franchising to scale up businesses and to extend reach to Tier 2 and 3 cities.
Shahnaz Husain, the prima donna of Indian Beauty and Wellness Industry, is expanding her beauty empire. She is the founder, chairperson and managing director of the Shahnaz Husain Group having a diverse business portfolio of training academies, manufacturing and retail of natural cosmetics and salons. The latest addition to the group is a retail franchise concept called ‘Just Shahnaz‘.
This option presents a golden opportunity for the brand to share success of over 375 Shahnaz Husain formulations for beauty and health care. The concept of Just Shahnaz is based on Franchise owned Franchise operated (FOFO) business model. In addition to strong branding, the franchise partners will benefit from the world renowned products with proven success rate and efficacy. The company will assist the franchisees in site selection, project development, staff recruitment, store launch and marketing as well. They will also advise on shop design so that each outlet has a uniform look and feel in conformity to the brand identity and standards.
So, if you have any plans to start Health, beauty & wellness franchise business in India, we can definitely help you..