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The future is bright for the franchise in India
Although franchising companies represent a small proportion of all U.S. companies, the industry franchise is great. In the United States States, there are over 2,500 franchise systems, with more than 534,000 franchise units, accounting for just over three per percent of U.S. companies. However, that small percentage generates 35 percent of the retail and service revenue in the U.S. economy.
With excess of related products and services estimated at $ 800 million U.S. dollars year, international demand for products of the franchise name and services is creating enormous opportunities for U.S. firms to expand abroad.
India, which has a growing middle class of over one billion people, is positioned as a major force in the global economy and a fertile ground for investment in the retail and business development. The franchising industry in India is expected to grow in one year rate of 30 percent, and the current drive in the country, retail $ 330 higher. In 2007, more than 750 national franchises and international agencies operating in India, employing millions of people, and generating revenue in excess of $ 3 million U.S. dollars.
The areas cited as the best prospects for successful franchise opportunities in India are:
* Food and drinks
* Education
* Clothing
* Entertainment
* Messaging Services
* Sellers stationery and gift
* Health and beauty
* Fitness and nutrition
Many of the most large and good in the world-known franchise companies such as UPS Chile, McDonald's, Yum Brands, Baskin Robbins and Subway already has a visible presence in India. Other U.S. companies from various sectors of industry, are now gaining a foothold too.
With India's growing retail sector in more eight percent per year, the dollar store is actively seeking franchisees. This chain of retail, based in Florida, USA, sold at discount prices general merchandise products and services. India is just one of the specific geographical areas for the company multi-million dollar business expansion abroad.
And there are some amazing entries for the franchise in India too, at first glance, it seems a logical fit with the traditional culture India and consumers.
Contours Express launched its first Indian center in Bangalore, with a second location in Mumbai. The company has 700 centers fitness for women in the U.S. and other locations in 24 countries, and plans to have at least 1,000 Contours clubs operating throughout the world.
Pizza Corner plans to open 36 stores in India, and is expanding efforts to expand in Sri Lanka, Nepal and Singapore.
Golf USA has grown to nearly 100 stores in 32 states and 6 foreign countries and is actively seeking entrepreneurs to operate stores in India.
According to statistics from the Franchising Association of India, franchises represent currently only two percent of retail revenue in India, compared with almost 50 percent in the U.S.. However, the two percent that is growing at a rapid pace, and point to implications for the tremendous market potential. The success rate for individual business owners in the U.S. franchise is 92 percent, and from enterprises franchise is based on the tested systems, the success rate of franchises in India should be comparable.
The franchise has a bright future in India because of the convergence of many factors:
* The average Indian income is steadily rising and individuals have more spending power.
"Telecommunications and improvements in transport infrastructure to facilitate the exchange of information and goods.
* Increasing levels of consumer spending, with a greater appreciation of brand value.
* Internet access is opening the world to India, making people more aware of global trends and trademarks. Conversely, the Internet is making it easier for international companies to gain an understanding of Indian culture ', the geography and politics.
To learn more about the global franchise industry, http://www.franchisedirect.com visit. Headquartered in Dublin, Ireland, Franchise Direct operates several sites of international news in the franchise, and offers a wide range of research resources about buying a franchise and the industry in general.
Kathleen Fitzpatrick
Franchise Direct (McGarry Internet Ltd)
target = "_blank"> www.franchisedirect.com
About the Author:
Kathleen Fitzpatrick is an editor a Franchise Direct. Franchise Direct was launched in 1998 by McGarry Consulting who specializes in business development, especially franchising.
Article Source: ArticlesBase.com – The Future is Bright for Franchising in India
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