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Monday, June 21, 2010

Franchising Flourishes Under Retail Industry

With the help of the big brand names in India’s retail industry, there are new opportunities to be explored for first-time entrepreneurs and prospective investors. Especially for those who wish to quit the corporate world and start their own business, franchising could be the best option.

From flower shops, gift outlets, beauty salons, educational institutions to furniture outlets to consultancies, franchising has become a great option for expansion and increasing brand visibility for many industries and companies, and this is churning out to be a big time opportunity for entrepreneurs and investors.

The Indian retail industry is the largest amongst all the industries, accounting a good percent of the country's GDP. In fact, India's retail sector is truly one of the basic pillars towards India's development. The scope of the Indian retail market is immense and market experts believe that there will be more growth in the coming years. The scope for more growth in this segment is mainly due to the change in the consumer's behavior.

There are a number of factors behind the growth of India's retail market, such as increase in the young working population, nuclear families in urban areas, increase in disposable income and customer aspiration, increase in expenditure for luxury items, and low share of organized retailing. India's retail boom can be noticed in sprawling shopping centers, multiplex- malls and huge complexes that offer shopping, entertainment and food all under one roof.

While IT shops began the trend of franchising in India, apparel retail is one of the most hot and happening. Brands like Numero Uno, Monte Carlo, Levis, and Belmonte amongst others who are exploring the franchising opportunities. The investment required to get a retail franchise of any popular brand can be as low as under one lakh and as high as crores. So, as per your budget and interest, you can easily choose a retail franchising segment.


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