International Franchise Opportunities and Indian Market Overview
The need for products and services is growing day by day and hence the global market place is now becoming more accessible than ever before. The value of franchised systems in the international market are hence been recognized by the franchisors today.
Many international brands are looking eagerly towards India to expand their operations here. Those companies are willing to offer master franchises, multi-development franchise models, regional franchises, state franchises and unit franchises as well. Several international brands have entered the country through franchising in the past few years. India welcomes international franchises as it creates jobs and generates wealth locally. The trade group says that more than 7.5Lakh jobs are attributed directly to franchising in India and more than 1, 50, 000+ franchise outlets are operational in India.
To make the international franchisors feel comfortable in their Indian operations, the Franchising Association of India is working persistently to introduce franchise legislation for them. To explore the global market opportunities Franchising Association of India exhorts the Indian players to diversify, generate multiple engines of growth and influence existing systems.
The economic reforms made and the liberalization has had an immense positive impact and the youngsters of India are reaping the benefits of these reforms. Estimation says that more than eight hundred companies are franchising internationally and a hundred additional companies begin their international expansion every year. This denotes a unique prospect to seek opportunities with the world’s most established franchisors. It is clear that foreign franchisors have understood the unparalleled prospective for franchising in India. Going by the statistics, there is no doubt that franchising as a business concept has a very bright future in India.