ENTREPRENEURSHIP – FRANCHISE (PART-I)


Introduction:

Franchising is a form of business by which the owner (franchisor) of a product, service or method obtains distribution through affiliated dealers (franchisees). A franchisor provides a licensed privilege to the franchisee to do business and offers assistance in organizing, training, merchandising, marketing and managing in return for a monetary consideration. [Entrepreneur.com]

Why Franchise?

If someone dreams to be an entrepreneur, but fears to start a new brand due to lack of experience in that field, then the franchise is a good option. Nowadays “Brand power” is inevitable for any business, most of the startups vanished from the market before establishing themselves as a trustable brand.
The Franchisor will train and support in all aspects to run the business, so even a person with less business knowledge can quickly learn the system and thereafter his only duty is to monitor the day to day activities.
Like every business franchise also has its own Pro’s and Con’s some of them are listed below

Pro’s:

  • Established brand
  • Guidance Support
  • Customer base
  • Marketing/Advertisement
  • Resale value

Con’s:

  • Just implement don’t innovate [Must strictly follow the rules of Franchisor]
  • Initial cost high
  • Franchise fee

How to select a business?

Always select a business which you love to do or based on your passion, so that even during odd times you can withstand.

Categories:

There are lots of options to start a franchise some of them are Automotive, Food & Beverages, Education, Fashion, Industrial Machinery and Manufacturing, Retail, Sports and fitness equipment, Hotel, Travel and tourism, Business services, Dealers and distributors etc.

Sample 1: SP Robotic Works

It’s a Chennai based Robotic trainers, providing hands-on training to students on four stages Foundation, Beginner, Advanced, and Expert. Also, they conduct workshops and seminars frequently for students varying from higher secondary to undergraduates.

Salient features for franchisers

  • Minimum Investment.
  • Easy to implement.
  • Quick Return On Investment.

SP Robotic Works Official Website

Sample 2: Indus Pack

Operating from Bangalore, Indus pack are the market leader in supplying a full range of custom, wholesale and promotional carrier bags made from paper, cotton, other environmentally friendly materials

Salient features of the products:

  • High quality Recyclable.
  • Cutting-edge technology.
  • Worldwide market.

Induspack Official Website


Where to find Franchise?

Some of the best websites to search for franchise in India are listed below

Franchiseindia
Franchisezing
franchiseindiaweb
Startingfranchise
Franchisemart
Franchisebazzar

Top 100 Franchise India 2017

Bottom Line
Many fresh engineering graduates are working for a very low salary in entry- level jobs; Instead of that if four members contribute with 2.5 lakhs each, can establish a franchise up to 10 lakhs. If proper security is provided, procuring a loan of 2.5 lakhs is not a big task.

More franchise options yet to come ……….

About Author:

Manoharan Sundaresan
Founder – Unikrush.com

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