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Why Entrepreneurs Love Using AI to Design Logos

At the point when you need to make a logo for your new business or venture, the initial step is choosing what technique for configuration accommodates your spending plan, timetable, and imaginative necessities. With man-made reasoning acquiring notoriety in every aspect of innovation, another flood of graphic plan has gone to the bleeding edge, making an open alternative for bootstrapped business visionaries and new companies. As an option in contrast to DIY logo configuration (tedious) and employing a designer (costly), an AI-fueled logo creator is a quick method to look proficient and interesting to your intended interest group with the help of logo maker in Mumbai. Here are five motivations to utilize AI to assemble an excellent brand: 1. it’s quick. Try not to need to go through weeks going to and fro on logo drafts with a designer? Too occupied to even think about going through hours attempting to sort out some way to utilize plan programming like Illustrator or Photoshop? An AI-fueled logo creator can have a designer-quality picture prepared for you in minutes, with no plan experience required on your end. Truth be told — you can have the perfect logo to show the world in less than 60 minutes with best logo design company in mumbai. 2. It gives you more control. Why hand more than perhaps the main pieces of your business — your image picture and personality — to another person? With an online logo creator, you're important for the whole plan measure, giving info at all times. Also, in contrast to other online logo creators or formats, an AI-fueled generator won't ever copy your plan, giving you genuine feelings of serenity that no other business will have a similar logo. 3. It's keen. In view of the plan inclinations and motivation you pick, an AI-controlled logo producer utilizes calculations — and collected information from a great many clients — to decide the best logo choices. By leaving exploration and plan choices to AI, a logo producer can make lovely brand thoughts and logo mockups that will engage both you and your intended interest group. 4. It's reasonable. It's OK in the event that you don't have hundreds or thousands of dollars to spend on a graphic designer. Utilizing an AI-fueled logo producer will give you a top-notch logo with the help of logo designing agency in Mumbai for a small portion of the expense. It'll likewise give you every one of the organizations you need — including vector records like EPS, SVG, and PDF — to assemble your image across channels. 5. It's good times! With a human designer, you frequently need to arrange what you need or get in total agreement with what they need to do. It can likewise be hard to clarify what you're looking for. Best logo design company in Mumbai has create an AI-controlled logo distinctive in light of the fact that you can make logo amendments all alone and perceive how your thoughts look in changed settings, including business cards, T-shirts, and the sky is the limit from there. Do you need help? Do you want to create a logo for your brand? Contact Us 450, Mastermind One - IT Park, Royal Palms, Aarey Colony, Goregaon (E), Mumbai, Maharashtra, India 400065.

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What is the significance of a trademark in a franchise business?

When investing to buy a franchise, a business owner who wants to buy a franchise has to do something consciously. They have to meet directly with the franchisor; The franchise disclosure document (FDD) has to be read carefully; Activities such as the inclusion of franchisees to save payroll FICA tax and creation of Doing Business As (DBA) file to run the franchise under their brand name are required. In addition, trademarks must be considered. These are all important assets of the intellectual property of the franchise brand and they play an important role in any franchise. In this article, I will explain what a trademark is and how to get it as a franchisee.

What is a trademark?

A trademark is a specific name, logo, slogan, design or tagline of a company. Trademarks help you differentiate yourself from your competitors and identify your brand in business competition. Trademarks allow customers to identify your products/services. When a trademark is not registered or the registration process is in progress, there is an ™ sign; The ® sign represents the registered trademark. When a trademark is registered, you become the official owner of that trademark. No one else can claim or use your brand’s trademarks unauthorisedly. If another company violates it, you can file a trademark theft lawsuit against them.

Is it necessary to register a trademark as a franchisee?

It is important to understand how a trademark is transferred to a franchisee through a franchise agreement. Franchisors license the use of their trademarks at the time of issuing the franchise. The trademark is protected under Section 13 of the Franchise Disclosure Document. Section 13 describes how franchise trademarks, copyrights, and patents can be used. The franchisor must clearly display each trademark to each franchisee. The franchisor is required to provide information to the franchisee while the trademark has been registered, while the registration process is in progress, or while it is in renewal status. If for some reason the trademark is not registered, the following trademark registration declaration must be included in section 13. “Our trademark is not registered. So we do not have the legal benefits and rights over our trademarks as registered trademarks. If your right to use a trademark has been legally challenged, you will need to change the trademark. That can increase your costs. ” If an unregistered trademark is obtained from a franchisor, franchisee holders are required to seek legal advice.

Importance of trademarks in the franchise business model:

If the franchisor has registered all the trademarks related to the franchise business, it has many benefits for the franchisee. A registered trademark ensures that your franchise business is an innovative (original) concept and that your business is the only/specific business of that type. Trademarks give legal protection to your business concepts and creativity. Prevents registered trademarks of doing business in their name by copying other copycats of your business. There is another advantage of being registered a trademark, which is not much talked about. Continuation of a trademark or its lifespan … A registered trademark protects the intellectual property (IP) of any business for hundreds of years.

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A person with a sensitive mind becomes very successful and rich

If a person’s mind is sensitive, how can a person do extraordinary work, even if it is normal, he has a huge work to do, he is famous all over the world, he is very rich. He reaches the highest position in his field. There are two examples of this work being possible. One is historical and the other is a fresh example of a soul. Mahatma Gandhi’s sensitive mind was so deeply affected that he started a movement against the British for such injustice and you know the future history. Mahatma Gandhi became a general lawyer because his mind was hypersensitive. Another example is that Nagraj Manjule, the producer-director of the film Sairat, is from a nomadic tribe. The way he lived his life may have been experienced by many from the same nomadic tribe, but Nagraj Manjule’s sensitive mind affected him. Starting with a short documentary called Pistol, Sairat made a huge business of Rs 100 crore. There may be many educated youth in the same nomadic community but why Nagraj Manjule was so successful because his mind is very sensitive. If you are poor, you should be constantly angry with him. If you don’t get a job, you should be constantly harassed. Others like you get huge success, make money, then you don’t have it, it should affect your sensitive mind. Sensitive minds have created many great entrepreneurs including many film actors, directors, leaders, social workers, artists, writers, poets, lyricists. All these people because of their sensitive minds. So don’t let your mind become like a stone. What is happening around you should affect your mind.

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Franchise is a good option for diversification

“Don’t Put All Your Eggs in One Basket,” says Warren Buffett. No single product/service industry in business is constantly booming. Those who depend on only one business face losses and bad times at some point in their lives. E.g. Now that the price of gold has gone up, consumers have turned their backs and it is time for jewelers to sit on the fence, the real estate sector has been in a slump for the last 3 to 4 years, big builders who own expensive cars, now don’t have money to pay for petrol. Many clothing retailers, electronic showrooms, hoteliers have all been hit by the recession and online businesses. The majority of consumers are turning towards branded goods. But on the other hand, franchise shops like McDonald’s, Yevle Amrutatulya Tea, Pizza Hut, Domino’s, BATA, etc. are doing well. Even if your current business is doing well, you should buy a franchise for yourself, your children. You will be able to manage your franchise business along with your current business properly. According to Warren Buffett, your income will start in many ways. If your son or a family member is not working, it would be better for him or her to have a franchise.

Today we see in a society where the children of big businessmen, politicians, many administrative officials are seen wasting money in driving cars and partying on their parent’s earnings. “Khaali Dimaag, Shaitaan Ka Ghar…” With the increase in crime and wasteful propensity among such free-roaming children, money is wasted, Due to this, children are spoiled and the name of your esteemed family is tarnished in society. Then you can choose such a good franchise as an alternative business.

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Consult an expert before converting a business into a franchise model

Realizing any business concept is a complex process. This is where the franchise business begins. A closer look at the franchise world, in general, reveals that the number of franchisees around the world is currently growing exponentially. Any entrepreneur is narrow-minded or, in other words, skeptical about innovating. So many people take a franchise of a famous brand. It is believed that this is the surest way to do business and succeed. If you want to transform your business into a franchise business model, it is always best to work with market experts in the process. Before entering the franchising world, one must understand what franchising is. The first step is to sign an agreement between the franchisor and the franchisee. The agreement gives the franchisor the right to purchase products or services listed under the company or brand. But this does not mean that you will succeed easily. One has to be able to bring a concept into the franchise model. So that the business can be expanded without the use of large capital that reduces the company’s budget.

It is possible:

1) Know your business: A franchisor cannot provide any questionable and undisputed information. This is because the franchisee does not have the freedom to modify or change various details. So every decision has to be made thoughtfully in this process to see if a business can be franchised. The franchisor is the parent position of that business model. That is the creator of that business model. Therefore, the franchisor has to provide detailed information to the franchisees on how to go through the franchising process.

2) What is your ultimate goal? : Converting a business into a franchise business model does not immediately bring benefits. Some companies want to scale their business in the market at a reasonable rate. So some companies want to expand their brand through franchising using new business models. E.g. Starting one or more new outlets under your brand. The franchisor needs an expert franchisee consultant to get a clear idea about this, which guides the franchisor in various decision-making processes.

3) Planning : There should be a strategic business planning so that the franchisor can keep up to date with the current status of their company’s growth and expansion process and its final destination. Knowing all these things will enable the franchisor to have a clear idea of what is needed to set up a franchise business. An effective marketing plan for selling a franchisee has to be close to the franchisor, which is a means of reaching the ultimate goals of the franchise.

All three of these factors will help you develop a clear business plan that takes into account the needs and challenges of your franchise model. This work can be done effectively only with the help of an expert franchise consultant. According to a survey, the franchising industry in India is expected to grow fourfold in the next few years, but the lack of standardized business practices in India is likely to adversely affect Indian industries. Therefore, the role of expert franchisee advisor is important for both the franchisee and the franchisor in this field. Both the franchisor and the franchisee need expert advice for systematic business growth and long-term survival in the market.

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Before entering the Franchise Business, Think about exit also

The life of a franchise business owner is exciting. Better a poor horse than no horse at all. Even if you have to struggle for some time in your life, the rest of your life as a self-reliant, independent business owner is enjoyable and dignified. The best start is as good as possible as a business or entrepreneur… but a good start or exit plan is a must to consider when making a good start as a franchise owner.

Are you surprised? …

When starting a new business, why should anyone think of a special plan to get out of it when you are strategizing for permanent success, business growth, and reputation as a successful entrepreneur? But the fact is, one way or another, the business may one day take a different turn. Unfortunately many small to large entrepreneurs do not have pre-planned strategies or policies to deal with that situation. If you have an exit plan for your business right from the start in the franchise world, then when bad time comes in your business, your mind will be ready for it and you will not have any more mental problems. In other words, there will be some difficulties in your business which may lead you to quit the business, in which case if you have the right exit plan, you will be able to get out of it successfully. ‘Sales’ is the most important factor in franchising. The fruit of your hard work in your business is sales and the profit that comes from it. A businessman spends most of his life not only to keep the business going but also to keep it growing and he is trying to grow the business as a salable asset to make more profit at the right time. Of course, the right time will be different for every business, but it will come one day.

When discussing the exit strategy of a franchise business, it is necessary to have a clear opinion on the following points.

1) How long do you want to work as a business owner?

Do you want to leave the corporate world after working long hours? Is Professional Life Your Retirement Plan? Or starting a new business or starting a new chapter in life?

Many small business owners want to retire with a lot of money. According to a survey, less than 30 per cent of entrepreneurs make a special effort to pass on their business to the next generation, with the rest leaving the business. You have to have an idea, when will you get out of business? This doesn’t mean you have to quit the business you are starting, but you still need to have an exit plan or a retirement plan. When you have a pre-planned exit plan, you get the right value for your business.

2) What will happen to the business, when it is ready to sell?

Are you really ready to sell your business? Is there anyone in your knowledge who is eager to buy your business? Many franchisees think their business is a family business, which parents leave to their children after a while. If the children are young or teenagers, a good backup plan is definitely needed for them. In many business families, children are nurtured from an early age, so that the children will be active in the business. Still, parents should sit down with their children and review their business plans. That is, they know the right time to put the business in their hands.

3) Do you think franchising is a good business even in a recession?

Just because you are going to sell your business after a while does not mean that the financial situation in the country will be right for that business at that time. Maybe even an economic downturn. But even if you have some concrete plans for a possible recession, selling a business in the future will not have much effect. But it is not possible to predict the future of the economy. However, if you have already made plans to sell your business, your business can get a fair price even in times of recession.

4) Does franchising have the feature of frequent profit making and gaining membership?

When it comes time to sell a franchise, things like long-term contracts, membership or membership fees look attractive, because these things indicate the certainty of income and viability of the business. The ability to predict frequent profits also boosts the confidence of prospective buyers. When they buy your business, they are sure to succeed. How to plan your expenses? How to create business growth plans? What will be your exit plan? They are better aware of this.

5) Is your franchise business salable?

This is an important question that every franchisor should ask himself. How long can a franchisee normally run their business? What are their main reasons for deciding to buy a franchise? How long can they run a business and how much profit can they make? It is important to know this. Established franchise brands need to have a lot of data available on the sales capacity of their unit and be able to offer it to franchisees.

6) Does the franchisor help you sell your franchise unit?

The main reason why people buy franchises is because franchising is a business model that guarantees success and in many cases the support system from the franchisor.

With that in mind, will the franchisor help you sell or exit your business? Does he have any such procedures? It would be appropriate to ask the franchisor. Does the corporate office participate in the sales of the franchise unit? Will your business get marketing support from a franchisor for sale? Does the franchisor have a database of businesses looking to buy your franchise? This should also be asked.

There are many benefits to being a franchise owner. But after leaving that business, life should be just as rewarding. That’s why exit strategies should be considered when starting a franchise business. So that it will be easier to get out of business at the right time.

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What is the importance of training in franchising?

There is no franchise business model that will make the franchisor more profitable without providing training and support to the franchisee. ‘Training and development’ is an important process in the success of any franchise business. The training program allows you to observe the smooth functioning of different locations. In order for a franchisee to run a successful business and avoid potential losses, the franchisor must provide the franchisees with the best quality training and assistance. 87% of CEOs around the world believe that lack of skills is a major impediment to business growth.

At present, about $ 1 billion (INR 7,000 crore) are spent on various training and development activities in India. 90% of the jobs are skill-oriented. But India currently has only 6% skilled manpower. However, training programs are a form of investment in the franchise business, which develops the skills needed to improve the company’s performance and make a lot of profit. Getting initial and ongoing training in all aspects of the business process is one of the major benefits of becoming a franchisee, as is not the case in an independent business. Most franchisors train their franchisees in all technical and functional aspects of the business. This is because most of the new franchisees do not have enough knowledge and skills about it. That’s why they need to be trained to run the franchise smoothly. Let’s see, what is the importance of training and support systems in franchise?

1) To adapt to the changes in the industry: This is the age of technology and there are frequent changes happening. Technology is updating day by day. So every business industry must adapt these changes. In such a situation, negligence or loss of business is inevitable. At the same time, government policies are also changing. That’s why it’s important to verify that your company is following industry regulations with each change. Therefore, it is very important to carry out continuous training activities to ensure that the skills and knowledge of all the employees in the franchise business are up-to-date.

2) To be aware of the changes in technology: Due to the frequently changing and up-to-date technology, franchise companies have to be constantly updated. Training programs need to be conducted to ensure that modern technology is being used in your industry and that your employees are able to handle this technology efficiently to its full potential.

3) To stay ahead in the competition: Take any business sector, there is competition in it. The franchise world is so vast, the competition in it is also very challenging. One small mistake can shut down your business or cause a big loss. In such a situation, continuous training is required to survive in the competition and to go ahead of other competitors.

4) To be able to know your weaknesses and weak skills: Through regular training, you can identify the weaknesses in your business. Also the weak skills of the employees can be improved. If the weaknesses of the business can be identified in time, it can be improved in time through training and potential risks can be avoided.

5) To retain knowledge and skills: Training programs are important for retaining the knowledge and skills of professionals and employees involved in the business process. It takes constant practice to master the skills and constantly refresh them so that they are not forgotten.

6) To update the skills of the employees: After the business is established and it is running smoothly, by constantly updating the skills of oneself and the employees, more profit and success can be achieved.

7) To increase the level of satisfaction in work: If investment is made through continuous training, job satisfaction is created in the employees and their interest in work will increase. This increases productivity and increases direct profits. It also prevents competitors from removing your best employees from your company.

8) To attract new ‘Talent’: It is important to identify and encourage talented employees among the newly appointed employees. The training program promotes great talent in the employees and the franchise business gets a good reputation due to the talented employees.

Summary: Regular and continuous training is not only important for developing the knowledge and skills of the employees but it is also an effective process for business success

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Scalable franchise model gets venture capital

Many entrepreneurs want to start their own business. But with a good business concept and the necessary knowledge about it, this dream of many does not come true. For those who do not have their business concept, having a good brand franchise is a great option. But franchisees also have some problems. The biggest question is the amount of capital required to invest.

Very few sources of finance are available for small and medium scale enterprises. Venture capital finance is an important source of finance for such businesses. Venture capitalists are experts in various industries. They only fund small entrepreneurs or companies by monitoring the project. This fund is called Venture Capital. Venture Capitalist himself participates in the management process of the company and uses his skills to guide the company by giving quality and appropriate advice. But before funding any business or company, it looks at whether the business/franchise model is scalable. So to get funding for a franchise through Venture Capital, you have to check the scalability of the franchise model you want to take.

Scalability:

Knowing the scalability of your business is important for entrepreneurs who are planning to start a new business or take their business to the next level.

Scalability is the ability to keep your business model running smoothly despite the increased workload of potential growth. You just have to be more discriminating with the help you render toward other people. If your franchise model is scalable, Venture Capitalist provides you with funding.

What does a venture capitalist want?

Ordinary investors are usually a little narrower in financing new entrepreneurs/franchisees because such investments are risky. But the concept of Venture Capital Finance emerged to provide funding to ambitious and well-meaning entrepreneurs. Venture capitalists fund projects by studying new entrepreneur/franchise model projects.

The goal is to get the best return (ROI) from your investment. That is why they are actively involved in the process of the company or business of the entrepreneur and work as a guide in various ways. They also look after the business as business partners or profit shareholders. Venture capitalists invest in any franchise. Then they take risks. Therefore, before making a potential investment in any franchise, they verify the company’s management, market size, scalability, competitive quality of products/services, etc. Therefore, your franchisee needs to prepare an in-depth, study and feasible project report before raising funds through Venture Capital.

Business Plan:

The franchisee who wants to raise money through finance for capital investment. They need to have a business plan. Inventors You deserve to invest their money. It is imperative to have a good business plan to prove this. This business plan should include detailed information about the company, information about the products/services, market analysis management structure, marketing plan, financial policies, appendix, etc. The business plan/project report is not only a tool for financing but also a tool for scrutinizing your investment. This allows you to anticipate potential challenges and analyze unrealistic expectations in the business process.

Prototype:

Prototypes are franchises that have two or more branches, their own office/workplace. Before starting any franchise business model, see if your model is a great prototype. Because the success of any franchise business depends on the success of their prototype.

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How to protect your investment from FAKE FRANCHISE FRAUD?

Fake Franchise fraud is nothing more than a misleading transaction used to entice / entice potential / aspiring franchisees to take the wrong business model and grab their initial investment.

India is the second     largest franchise market globally.

There are over 1.5     lakhs franchisees and 4,600 franchisors operating in the country.

Franchising is a great model that benefits both parties (franchisors and franchisees) to successfully establish their business. Franchising offers the opportunity to be associated with an established brand and just like any business, franchising requires careful study / consideration.

One of the exciting things about being a potential future franchisee is that you are a few steps away from becoming a business owner / partner. Be prepared to face some challenges, but always be aware of one thing, which is fraud in a fake franchise / franchisee.

The franchise system is as strong as its brand, and the brand depends largely on how well the various franchises in the framework perform. If the franchisors are offering franchises to those in the system that have more money and no selection criteria, then your investment is probably at risk.

When you first contact a franchisor company, ask about the process they use in choosing a franchisee. So this is the first sign that the franchise is dangerous. There are a few things you need to consider when buying a franchise.

Do a thorough study to know the real truth

Even before you contact a franchisor, you can guess if you really have a chance. Go online and research news about the Franchise Company and industry. Visit their website and get information about their customers’ consumer offering as well as their franchise offering.

Compare the franchisor company with its competitors

Compare the franchisor company with its competitors; with both franchised and non-franchised. Find some of their stores and talk to existing franchisees. Only contact the franchisor company if you are satisfied.

Check the financial condition of the company.

Your investment will be significant. Franchisees are required to pay an initial franchise fee when purchasing a franchisee from a franchisor. In some franchisees, debt and equity combined, your investment can be more than seven figures. Each new franchisor must have the financial resources to carry out their responsibilities / duties. So you need to find the answers to the following questions.

Do you have more     skills in this game than the franchisor?

Does the franchisor     have a history of profitability?

Are they earning     revenue from royalties and other ongoing sources of income or relying on     further franchise sales to generate revenue?

These answers will give you a clear idea of ​​the current financial position of the franchisor company.

Other signs of a fraud franchise

They show a willingness to make unrealistic profits: – It is very good to guarantee a fixed amount of profit on time. Franchising will not make you successful overnight; it requires hard work and time. There is no such thing as “buy a franchise today and start earning money tomorrow”.

As an entrepreneur, you should gather enough information about the brand of franchise you are considering. Thorough research should be done to know about the company, its brand value, number of franchisees and company vision. You can do this by contacting different franchisees of the same company or other experts in the industry.

They guarantee other benefits

A genuine franchising company offers many incentives to its franchisees in terms of training modules, guidance and incentives to create their well-known brand names. A franchisor can support and back up your franchisee in every way possible to work successfully and profitably. However, fraudulent franchisors never guarantee success and huge returns on their investment. The success and profitability of a franchise unit depends largely on the franchisee’s communication and management skills. So, if a franchisor is offering you guaranteed success and profits, evaluate his claim by talking to experienced professionals in the same field.

They will give ‘Money Back Guarantee’

 As an entrepreneur, in the franchise system, you should understand the value of franchise fees. If a franchisor offers a money-back guarantee of a franchise fee, don’t trust it, because a successful franchisor never guarantees you a refund. It will provide various assistance and provisions to its franchisees by collecting franchise fees to ensure the success of the franchise unit.

Summary

There is no predefined procedure for finding a franchise scam; you just have to compare all the parameters to make your assessment. The fraudulent franchise’s propaganda can be easily discovered through its unrealistic and unlikely offers and demands. These misleading advertisements are usually made by new entities or organizations that intend to bring the franchise into the franchise sector to grow their business. You should think twice before investing in a company that gives you a huge return on your investment by doing less or nothing than you do.

There are hundreds of great franchise opportunities available today and identifying the best opportunities in terms of your investment is a challenge. You need to be careful when investing your hard-earned money in a franchise.

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Is it a good idea to take the retail business franchise in India?

• It’s Food, Clothes & Houses, where people spend their earnings. • India 5th largest country in terms of consumer capacity and retail destination • India has a substantial consumer base along with an increase in the purchasing power • The Retail market is growing at 12% per annum

In India, franchising acceptability is growing by the day and it has a fairly conventional industry spread. There are various franchising options available in the market but it depends upon a lot of factors such as industry growth, government policies, tastes and preferences of the target market and particularly, the capital and risk you wish to take.

Franchising in India

In India Approximately 600 franchisors, close to over 40,000 franchisees, with an annual turnover anywhere between Rs.8000-Rs.10, 000 crores spread across industries like education, retailing, professional services, healthcare, etc.

Initially, the education sector is dominating the Indian franchising scenario, although Retail is fast catching up. In India franchising in the retail sector, grew initially in the apparel & footwear segments and continuously developed to cover a wide variety of sectors including food, consumer durables, jewellery, books, home décor, etc.

Opportunity in retail

India, which has a developing working class of more than one billion people, is currently situated as a major force in the global economy and prolific ground for investment in retail and business development. There are a lot of opportunities in Retail Franchise in India. The Retail sector contributes nearly 10 % to the GDP of India and around 8 % of the employment.

Among the emerging and developed nations, India’s net retail sales are quite significant. India’s retail market is expected to nearly double to US$ 1 trillion by 2020 from US$ 600 billion in 2015, driven by income growth, urbanization, and attitudinal shifts. While the overall retail market is expected to grow at 12 per cent per annum, modern trade would expand twice as fast at 20 percent per annum and traditional trade at 10 per cent.

Some key trends in India

The main key factors of organized retail in India are: 1-Increase in per capita income which in turn increases the household consumption 2-Demographical changes and improvements in the standard of living Change in patterns of consumption and availability of low-cost consumer credit

The way ahead

The Indian retail sector is undergoing a metamorphosis; modern stores, shopping malls, and multiplexes are emerging across the country. This transformation, along with the increasing purchasing power and changing lifestyles of people, particularly of the growing middle-class, has spearheaded the franchising movement in the Indian retail sector.

Benefits of retail franchising

Brand Recognition

The most important reason for zeroing in on a franchising business is brand recognition and recall it enjoys with the people. Opening a franchise accompanies the selling power of a known brand. So, when the potential client sees your new franchise area, they as of now have a familiarity with the brand and products and know exactly what to expect.

Huge market base

The demography of India is ideal for conducting business through the franchising model, particularly in the retail sector. Clubbing this with the expertise of people in the local market makes the franchise arrangement a great proposition.

Summary

The Retail industry has been witnessing consistent growth over the last few years and is expected to grow more in the coming years. There are various types of franchising opportunities in the retail market that are open today. International lifestyle brands, have great plans of expanding in the Indian retail market want to launch their product in India because of the wide market, powerful economy, multilingual culture, and low labor cost. This could be an extremely promising opportunity for investors interested in starting a business in the retail segment in India. Getting the chance of a Retail franchise could be the wisest decision that can enable you to get benefits for a lifetime.

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Why every franchise model is not successful in every area or market?

There is an old saying, “location is everything.” in the case of the franchise business; nothing is couldn’t be more accurate than this.

• Population, demographics & competition, plays a vital role in the success of a franchise.

• If you aren’t visible or convenient, there’s a good chance your franchise business will suffer.

Opening a franchise may appear to be a basic way to run your own business. Franchising allows business people to run an organization without starting from scratch. But just because a business already has a widely recognized brand and established operating procedures doesn’t mean it’s easy to run one.

Maybe you already have an area in mind where you’d like to open a franchise of a specific brand, but what guarantees that the franchise can run successfully there?

The right business model with the right location for your franchise will be the difference between success and failure of a franchise Because Businesses need to establish locations that generate the most customer traffic.

There is no guarantee that every franchise model is going to succeed in every area or market where you open a franchise. There are several factors which affect the franchise business in specific locations, they are as follows

External factors:

Demographics

There are many things to consider when choosing a location for a business. One of the first factors is choosing a business that appeals to local demographics. If the people in an area have no need for a specific kind of business, then there will be no traffic for your business.

Knowing the social structure and statistics relating to the population and the various ethnical groups within a population can help you to identify the right customer base for business, or provide you a clear picture of a customer base that won’t be of any value to your business

Local laws and standard business practices of an area

Towns and cities have their own laws regarding how businesses can operate. Sometimes there are contractual obligations that could require the franchisee to pay a range of fees, such as property maintenance, local taxes, permits, and insurance.

There might be excessive taxes that can affect the bottom line of your franchise. Some municipalities may even restrict certain types of businesses. It’s important to understand the legalities, permits and expected business practices of any municipality before you decide to open a franchise in the area.

Characteristic of business and target customers

Different franchises will thrive better in certain locations. Depending upon the type of franchise you have, having major roads and highways near your franchise can be a big determining factor in the success of your franchise, particularly those franchise businesses that rely on a steady inflow of customers.

Another factor playing a major role in franchise success is visibility. Restaurants and other franchises that rely on traffic will do well near business districts where rent might be more expensive. High visibility is essential to the success of these types of franchises. If you aren’t visible or convenient, there’s a good chance your franchise business will suffer.

Franchises that don’t rely on walk-in business can get away with paying less rent in less populated areas. Examples of these include cleaning franchises or any other service franchise that travels to the customer.

Administrative factors

The franchisee doesn’t have the right stuff to appropriately work the franchise.

In a number of situations where an individual purchased a franchise that required certain skills, the franchisee didn’t have, despite due diligence on the part of both parties.

For example, as per the business model, if a franchise requires strong selling skills and the franchisee is not a salesperson, then it can be difficult for a franchisee to successfully operate the franchise due to the absence of required business skills. Although the solution might be for the franchisee to hire a salesperson, it’s easy to say than done.

Wrong fit for business

There is a major contrast between loving the products or services, and loving the challenge of maintaining a business that sells those products or services. Because sometimes franchisees, no matter how passionate they are about the product, the brand or the industry, just are not suited to the business.

Most of the time’s franchisees failed to evolve with the business over time, incapable of managing or retaining staff, or a whole bunch of other reasons, simply being they are the wrong fit for the business.

Summary

At times, just having a brand name and a defined working method are not enough to make the franchise successful. Most of the time, geographical location, competition, people’s preferences, and the ability to spend in a specific area, play a crucial role in determining how the franchise will operate. So if you are thinking about taking a franchise of a renowned brand, then it is important to take all that into consideration before making any decision.