Franchising has become one of the most flourishing and budding prospects for several aspiring entrepreneurs in the country. It has proven its worth as a highly resilient in today’s time. With the advent of many benefits that a franchise business offers as a proven business model, brand recognition, support, training and much more, are adding to the recognition of taking up a franchise business.
According to a report about the franchise industry in the country India as of today, it is estimated to be at about USD 48 billion.” Moreover, going by the recent trends it can be quoted that this figure is barely set to rise within the future.
However, more often than not, when people consider franchisees they instantly consider food franchises. It is one amongst the foremost common myths associated with franchising which we debunked recently.
Though the foremost famous franchise for sale is food franchises only, there are plenty of other successful franchises in other industries. Almost 60% of franchises are in non-food sectors and do extremely well. Here is that the list of a number of the profitable franchise industries to take a position your money in, which do not seem to be food-related.
Fitness Franchises are selling like hotcakes. With the changing lifestyle and increased target being fit and healthy, there has been a big increase in people joining gyms and fitness clubs. The Indian fitness industry is anticipated to achieve USD 554.2 million by 2022. The industry also offers diverse franchise opportunities, starting from yoga-based exercise studios to national gym networks, etc.
The gratitude of thanks to venturing within the segment of the healthcare industry, who are taking up a pharmacy franchise. It is one of the foremost flourishing and productive franchises within the healthcare industry today. Brand and trust are crucial factors for achievement within the healthcare industry, taking over a pharmacy franchise offer both. Thus, it is one amongst the thriving and profitable business opportunities, which never move out of demand as these stores, have daily use products with them additionally.
Salon and Spa Franchises
The beauty industry is one of the lucrative sectors of the franchise model in India. The salon industry is growing fast, generating an annual revenue of around 20 billion dollars, which can reach 58.9 billion dollars by the end of 2020. However, venturing into the salon business is not a cakewalk. This is often where franchises are available at the forefront. There are many options within the beauty sector for entrepreneurs to settle on. Counting on the selection of preference and budget, beauty industry.
Apparel Retail Franchise
The apparel retail franchise in India is that the key franchise business opportunity. The style industry in India sees the doorway of recent brands that soon become popular. The style industry adapts quickly to changing trends, making it a highly profitable business opportunity. With the growing per-capita income of individuals, there is a large demand for international clothing brands. The Indian retail market is anticipated to achieve the US dollar1,578 billion by the year 2026.
An education franchise may be a major part of the franchise business with tremendous opportunities. There are distinguished sorts of education as well as training franchisees like that of schools, pre-schools. In addition, the new bussing groups like the learning centers, a training institute, grooming centers, online franchise business for education, animation-learning school, coaching institutions, aviation academy, language learning centers, and many more. The education sector in India is estimated at US dollar 91.8 billion and is anticipated to achieve US dollar 101.2 billion.