Franchising is a business relationship where one party can sell a particular company’s products through the Franchise Agreement. It is a marketing concept where companies adopt this as a strategy for the expansion of their business.
5 Franchise Ideas to Beat the Competition
Patanjali
The Fastest growing brand founded by Baba Ramdev and Balkrishna in 2006, Patanjali is a household brand with outlets in urban and rural areas. Initially started with herbal and ayurvedic products, it expanded to beauty, health, and personal care products.
Headquartered in Haridwar, Patanjali is a business with a revenue of 30,000 crores, and all you need to start a franchise for Patanjali is an area of 500 sq ft and an investment of 7 Lakhs.
Dmart
Indian retail corporation that operates a chain of hypermarkets founded by Radhakishan Damani in 2002, Dmart is a one-stop supermarket that offers a wide range of products to its customers at competitive prices.
Headquartered in Mumbai, D’Mart is a highly profitable business with a revenue of 24,930 crores providing products to its customers at a great value. Dmart franchise cost 25,000 plus additional charges and an investment of 1.5 crores with a floor area of 4000 sq ft. However, if you own a hardware shop or are a wholesale supplier, you can click here to get more info on the franchise.
KFC
American Fast Food restaurant chain KFC founded by Colonel Sanders and Pete Harman in 1930, is the world’s second-largest restaurant after MC’Donalds with 22621 locations globally in 150 countries. Kentucky, which specializes in fried chicken, is headquartered in Louisville. One needs a 500sq ft minimum area and an investment of 50 lakhs for starting a franchise.
Lenskart
Lenskart was founded in 2010 by Peyush Bansal and Amit Chaudary to give vision to people at economical prices.
Indian optical prescription eyewear retail chain with a wide variety and choices is one of the fastest-growing companies with a revenue of 1000cr. Lenskart is based in Faridabad, and you need a minimum area of 300 sq ft and an investment of 30 Lakhs for the franchise.
Firstcry
Trusted brand, Firstcry is an Indian Retail cum E-commerce company headquartered in Pune was founded by Supam Maheshwari, Amitava Saha, in 2010, which focuses on baby products.
Firstcry is a fast-growing brand and is a one-stop Outlet for kids and baby’s with a revenue of 897 crores. For a franchise, one needs a floor area of 1000 sq ft and an investment of 20 lakhs. Firstcry is a profitable business.
Conclusion
It’s high time that people started to think of a franchise as a profitable business since the franchise is of lesser risk, doesn’t need any operating cost, and the franchising company already has a brand name that is trusted and popular among citizens. The franchise has created a lot more employment opportunities and has helped develop the economy.
