As far as trends are concerned, every year they are marked with new beginnings and possibilities. If you are all set for your entrepreneurial journey, then the franchise route can prove to be beneficial. If you are new to entrepreneurial life, you can start by taking the franchise route as it has proven to have a higher success rate.
You must be wondering why this route is more successful. It is due to the fact start-up owners have to work on how to run their business from scratch with the plan and everything, whereas in franchises gets all ready with the plan and strategy from the parent company.
Due to the constant shift in trends coupled with technological advances, it's making the Indian franchise industry push boundaries.
So, let's have a look at the latest trend that is influencing the franchise industry in 2020.
The Rise of F&B
Due to the pandemic, people may have stopped eating out, but being an Indian, we can't miss out on the food from the restaurants. We prefer to eat Indian food as well as fusion and international cuisines. Therefore, the F&B sector has always one step ahead of its expected growth rate in the franchise industry.
Take a look at how successful McDonalds, for example, how it has proved to be one of the most successful food franchises across the globe. Therefore, it is expected post-COVID this industry is going to see the excellent growth opportunities for entrepreneurs to invest in a franchise.
The Homecoming of International Brands
India is all ready to become the second-largest market for many international brands. Brands like taco bell, Wendy's, or most popular brand Starbucks is the fastest- growing international brands in the Indian market.
In the past few months, various renowned brands from the US, UK, Europe, Russia, Australia, GCC & Asia Pacific were expected to start franchising in the coming years in our country. Enlarging a brand internationally by the method of franchising involves less risk, minimum capital, and provides a high rate of scalability of the brand.
Indian brand versus Global
That's true, international brands attract and woo more to Indian customers. But now we are moving towards vocal about local brands the initiative, which gives Indian brands a platform as well opportunity for you to take up the franchise as a minimum investment with more revenue.
Local brands are curated in keeping Indian taste, preferences, and mindset, which leads to seeing rapid growth too.
Wellness still going, Strong
Health and wellness are still a top priority of ours, and during this COVID-19 time had made it an only priority. Therefore, it's rising steadily over the years as consumers continue to invest in wellness.
Therefore, investing in this sector can always turn out to be a good investment, and holding franchising can benefit you well.
Going through trends explains, there is n number of opportunities for entering the franchise market. So, many options available to choose in this franchise industry have something for everyone. The industry will aim to grow and progress in an upward direction. Hope the above-mentioned trends, help you figure out and clear your thought regarding the franchise industry.