Choosing a Good Franchise Business in India can be tiresome, as you can come across a number of choices in today’s business scenario. This is because of the rise of Franchises which has seen a mammoth growth over the last decade. The good news is that it continues to grow at rapid pace.
India has more than 2 Lakh Good Franchise outlets across all states and has become the most preferred choice for first timers in business. Nearly 1/3 of investors are first timers. This business model not only benefits the owner, but also create job opportunities for many people.
Franchise Business in India
What according to the market is the best franchise business in India to invest in? Well the answer to the question will be to classify your interest into different selection parameters. Here are some pointers that can help select the best one.
10 tips to choose the Best Franchise
- Alignment with your goals & aspirations
- Fairly established & profitable
- Investment Size & Time taken to break-even
- Market Size & demand forecast
- Look for Service Sector where the potential is huge
- Running the show with fewer risks &headaches
- Watch out for unexpected costs & add-ons
- Sales & Business Approach of the Franchisor
- Online Reviews & Feedback of current locations
- Good location choice & service area
A Good Franchise gives you the freedom to help you to pursue the dream of becoming an entrepreneur. And like every business there are risks and there are benefits, but in this case, the key is to choose the right one which has a low risk of failure.
Why Choose it over an Own Business?
This is how the stats fared while comparing a Franchise to Own Business. Almost 25% people fail in the first year while starting an own business, and 50% fail within the next 5 years. Only 25% people last till 10% and are successful.
Compared to the Franchise model, the success rate for franchises are close to 80% to 90% which is quite drastic. This is also a reason why people choose a profitable Franchise compared to starting an own business.
Pro Tip: Franchises in the service sector have tremendous potential as more and more people spend their wallet on buying stuff that requires constant maintenance and service. Investing in this area can help in making the business profitable and beneficial to all.
Also do adequate research before choosing a Franchise. Do not go for the cheapest Franchise option!
Technofixes, an All-brand Gadget Service Store is now providing Franchise Opportunities to investors in India. We would like you to be a part of our journey. You may contact us to discuss potential opportunities through the below options.
About Technofixes
Technofixes is a leading laptop and mobile service center. It is in the business for many years with good success. Our stores are in many locations namely Karaikal, Pondicherry, Bangalore, Coimbatore, Tiruppur etc.
The brand continues to expand to other locations in India through franchising. Visit our website for details on investment & ROI. Please use the link below to directly apply for one.
Recommended Links:
First time Investors
Indian Business Industry
https://www.ibef.org/blogs/india-s-franchise-industry-the-road-so-far-and-way-forward
