With technology making it possible for industries to make in-ways into all parts of the country, the companies are finding it difficult to set up shop in all cities they want to.
After all, finding the right location to enhance sales, finding the right people who can speak the local dialect o ensure a constant growth of consumer satisfaction, is no weasy task.
That is where, franchisees come into the picture. Franchisees are companies willing to provide the brands an outlet, the management and the infrastructure to work on in lieu of an association with the brand name.
India offers vast openings for a franchisor to set up its business; create awareness for his products or services and exploit the enormous market offered. As a result, it comes as no surprise that India has recently been declared as the second most attractive destination for retailers among 30 emerging markets.
Om Prakash, VP- Marketing of shaadi.com explains, “It is about a business partnership, the company provides a brand and the franchisee manages the work.”
Om Prakash, VP- Marketing of shaadi.com explains, “It is about a business partnership, the company provides a brand and the franchisee manages the work.”
Avenues
“Indian food and it training are the big players in franchising business in India today, while furniture, other forms of training and globalised marriage portals are coming up steadily,” says Om Prakash.
McDonald’s, who completed ten years of service in India last month, are also planning expansion through franchisees. “In two years, our franchising unit will be operational,” said Vikram Bakshi, Managing Director, McDonald’s India.
“We are planning to go to hotel management institutes and train the students there for handling the business.”
How to get there
As of now, hardly any institutes in India offer courses in dealing with franchising. “It is too small for any course,” says Om Prakash. “Internationally there are courses in franchising but in India we still have to train the people ourselves.”
“One needs to understand the industry, work towards a proven business model that is profitable, and which should ensure a long-term growth,” he adds.
Remuneration
How much you earn depends on the industry you are working in. You could earn anything between Rs 50,000 to 30 lakhs. Through shaadi.com, you can earn Rs two lakhs a month.
Drawbacks
Though the field is pretty much untouched as of now and is very lucrative for people who want to be their own boss. It comes with its share of drawbacks. There is no place for introverts in this business.
One has to have a pleasant personality and the ability to convince anyone at any time of the brand’s effectiveness.