The success of franchises in India is made possible by the franchise model’s adaptability to a wide range of industries, including food, health, cosmetics, education, clothing and many others.
Table of contents
- What is Franchising?
- Franchising in India
- Best Franchises in India to consider
1. What is Franchising and why brands do it?
A franchise is a style of licensing that enables a franchisee to obtain a franchisor’s classified information and copyrights and later use those resources to offer services under the particular brand. It is a company where the proprietor distributes its business in return for a fee, including its knowledge, merchandise and trademark. For entrepreneurs seeking to enter a competitive market, franchises are a common strategy. A notable gain of acquiring a franchise is having exposure to a recognized industry’s brand image.
The most effective formula for expansion in the corporate sector is franchising. The possibility of franchising their brand can appear as a distant and irrelevant idea to the majority of entrepreneurs when they initially start a new business. The day-to-day operational and management drudgery of running a new firm can be challenging enough without worrying about how to create and improve a model on a regional, national or even global level. A pre-made business recipe to use is one of the well acknowledged advantages of franchising. A franchise includes tried-and-true goods and services and frequently, a well-known brand.
2. Franchising in India
As one of the world’s rapidly developing markets, India entices global firms eager for high-revenue opportunities. India is a country where business owners may find a space for audience testing due to its large population and cultural variety. The success of franchises in India is made possible by the franchise model’s adaptability to a wide range of industries, including food, health, cosmetics, education, clothing and many others. Currently valued at $47 – 48 billion, the franchise market in India is expected to grow even more in the coming years.
First-time business owners in India frequently choose franchise businesses over launching a brand-new company since they are thought of having a low failure rate. According to recent studies, 35% of franchisees in India are first-time entrepreneurs which have significantly aided the sector’s expansion in the country.
3. What are the best franchises in India?
The franchise model is regarded as one of the finest ways to grow the market position and has been extremely effective. The following are some of the top franchises in India:
1. Subway is the one of the largest sub-sandwich franchises in India. Their goal is to offer clients the best service possible at a price they can afford. Subway capitalizes on the promotion of a nutritious food alternatives which makes it one of the few popular fast food restaurants. With more than 500 units, the franchise cost ranges between INR 54 to 90 lacs.
2. Lenskart, launched by Piyush Bansal, is one of the largest franchises in India which offers the highest-quality eyewear and frames on the market. As one of the quickest growing eyewear brands, it has an online presence as well as 500 offline stores. Lenskart aims to be one of the highest return franchises with a cost of INR 30 to 35 lacs.
3. Pepperfry is an online furniture company with its headquarters in Mumbai, Maharashtra. It runs more than 60 stores called Pepperfry studios across the major cities of India. Pepperfry is one of the most appealing retailers in the home décor and furniture business since it has a unique collection with a very reasonable price range. The cost of a Pepperfry franchise ranges from INR 15 to 20 lacs.
4. DTDC, one of the most well-known courier services in India, was established in Bangalore in 1990. Many small and large-scale businesses rely on DTDC to deliver their products and supplies. With over 1000 franchise locations, it is accessible throughout the majority of India. DTDC developed the franchise-based approach for the courier sector with a franchise fee of INR 50,000 to 2 lacs and is currently regarded as a business with the best franchise potential.
5. Kidzee is well-known for making a good difference in pre-school learning. For a large number of kids in India, it was a part of their preschool experience. Along with a perfect setting for both outdoor and indoor recreational spaces, the facilities in Kidzee offer internet access, security cameras and air-conditioning. With 2000 locations, the franchise investment ranges between INR 12 to 15 lacs.
6. Kalyan Jewellers, first established in Kerala, has since spread its flagship stores to the major cities in India. It provides a large range of selections in gold, silver and diamond jewelry along with client satisfaction service. As one of the best franchises in India, the franchise price of Kalyan Jewellers ranges from INR 50 lacs to 1 crore.
7. Chai Sutta Bar is the chain of cafes that specializes in serving authentic Indian chai, as well as a variety of snacks and beverages. One of the reasons that this franchise has been so successful is its commitment to quality ingredients and traditional recipes. Founded by Anubhav Dubey and Anand Nayak in 2016, their goal is to popularize kulhad chai all around the world and become the largest Kulhad Tea Franchise in India. To obtain Chai Sutta Bar franchise, it requires a total investment of around INR 16 lakh. With over 325 outlets in 175 cities globally, it is leaving its footprint worldwide.
8. MBA Chaiwala is one of the most iconic chai chains in India, MBA Chaiwala was founded by young entrepreneur, Prafull Billore. A favorite with youth, their goal is to capture the vibrant and varied environment. With annual revenue of more than crores, the MBA Chaiwala franchise has a 3 lakh rupee franchise fee and an overall of INR 10 lakh investment. The franchise witnessed exponential growth in the past few years with the launch of 25 outlets in 25 cities simultaneously.